'Gap Analysis Is Useless Because It Only Identifies Yesterday's "Gaps

question 7

Essay

'Gap analysis is useless because it only identifies yesterday's "gaps" and tells us nothing about where tomorrow's "gaps" will occur.' Is this a fair criticism? Provide reasons.

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Definitions:

Savings

The portion of income not spent on current consumption, often put aside for future use or investment.

Business Firms

Organizations engaged in commercial, industrial, or professional activities, typically structured as partnerships, sole proprietorships, or corporations.

Corporations

Legal entities that are separate from their owners, with the right to own property, enter contracts, and engage in business.

Proprietorships

Businesses that are owned and operated by a single individual, with no legal distinction between the owner and the business entity.