Assignment:Exercises: What competitor information categories are useful in competitor analysis? Are these categories appropriate for health care organizations? How can these information categories provide a focus for information gathering and strategic decision making? Why is it important to clearly define the service area? How does managed care penetration affect service area definition?Professional Development:Conduct a service area competitor analysis within your community. Keep it fairly small in scope (i.e. laser hair removal business, extended care facility for ventilator-dependant patients, etc.) so that it is manageable. Begin by introducing the macro issues (general and health care) and then use this outline as an initial guide:Specify the Service CategoryDelineate the Service Area.GeneralEconomicDemographicPsychographicHealth StatusPerform a Service Area Structure AnalysisThe threat of New EntrantsIntensity of RivalryThreat of SubstitutesPower of Customerspower of SuppliersDo a Competitor Analysis/Identify Service Category Critical Success FactorsCompetitor Strengths and WeaknessesCritical Success FactorsStrategic GroupsMap CompetitorsLikely Responses of CompetitorsIdentify and Map Strategic GroupsProvide a Synthesis.The Professional Development assignment should be between 1500 and 2000 words in length and contain at least two scholarly sources, in addition to the textbook and provided material. Please submit your assignment in one APA formatted document.