Part A
1. Strategic management is an ongoing process that organizations apply to analyze internal processes and resources that deliver their product or service. It is a goal-directed plan with actions that align capabilities and resources with the threats and opportunities for improvement. The strategic process of an organization includes analyzing the current situation, developing the correct strategies, putting them into action and then evaluating them and changing if necessary.
2. The three types of organizational strategies are functional or operational, competitive or business and corporate. The functional strategy is concerned with making improvements to business functions that support business and corporate strategy. These functions …show more content…
There are two perspectives on analyzing the environment: (1) the environment as a source of information and (2) the environment as source of resources. In the first view the environment is viewed as a source of information in the decision making process. This view is based on the idea of environmental uncertainty. Due to uncertainty, decision-makers will need more information. Need for additional information is due to change and complexity of the uncertainty. In the second view, the environment is viewed as a source of resources. It is viewed as a source of scarce and necessary resources that are needed by …show more content…
Distinctive organizational capabilities are the special and unique capabilities that set an organization apart from its competitors. The distinctive organizational capabilities characteristics contribute to superior customer value, are difficult for competitors to imitate and can be used in a variety of ways.
2. Distinctive organizational capabilities have five steps- Step I- Prepare current product-market profile. Step 2- Identify sources of competitive advantage and disadvantage in the main product-market segments. Step 3- Describe all the organizational capabilities and competencies. Step 4- Sort the core capabilities and competencies according to strategic importance. Step 5- Identify and agree on the key capabilities and competencies.
3. There are multiple criteria that can be used in judging organizational strengths and weaknesses. Past performance trends is one criteria. This criteria shows important information about the organization’s use of its resources and capabilities, however it doesn’t determine if performance is where it should be. The second criteria used is how actual performance measures up against specific organization goals. Comparison of specific goals against actual performance goals can help with determining future goals. The third criteria is for an organization to compare its resources and capabilities against its competitors. The fourth criteria used is the personal opinion of strategic decision makers or
1. Strategic management is an ongoing process that organizations apply to analyze internal processes and resources that deliver their product or service. It is a goal-directed plan with actions that align capabilities and resources with the threats and opportunities for improvement. The strategic process of an organization includes analyzing the current situation, developing the correct strategies, putting them into action and then evaluating them and changing if necessary.
2. The three types of organizational strategies are functional or operational, competitive or business and corporate. The functional strategy is concerned with making improvements to business functions that support business and corporate strategy. These functions …show more content…
There are two perspectives on analyzing the environment: (1) the environment as a source of information and (2) the environment as source of resources. In the first view the environment is viewed as a source of information in the decision making process. This view is based on the idea of environmental uncertainty. Due to uncertainty, decision-makers will need more information. Need for additional information is due to change and complexity of the uncertainty. In the second view, the environment is viewed as a source of resources. It is viewed as a source of scarce and necessary resources that are needed by …show more content…
Distinctive organizational capabilities are the special and unique capabilities that set an organization apart from its competitors. The distinctive organizational capabilities characteristics contribute to superior customer value, are difficult for competitors to imitate and can be used in a variety of ways.
2. Distinctive organizational capabilities have five steps- Step I- Prepare current product-market profile. Step 2- Identify sources of competitive advantage and disadvantage in the main product-market segments. Step 3- Describe all the organizational capabilities and competencies. Step 4- Sort the core capabilities and competencies according to strategic importance. Step 5- Identify and agree on the key capabilities and competencies.
3. There are multiple criteria that can be used in judging organizational strengths and weaknesses. Past performance trends is one criteria. This criteria shows important information about the organization’s use of its resources and capabilities, however it doesn’t determine if performance is where it should be. The second criteria used is how actual performance measures up against specific organization goals. Comparison of specific goals against actual performance goals can help with determining future goals. The third criteria is for an organization to compare its resources and capabilities against its competitors. The fourth criteria used is the personal opinion of strategic decision makers or