internal analysis enables a firm to determine what the firm

A SWOT assessment involves specifying the business’s objective and then identifying the internal and external factors that are favorable and unfavorable toward the business’s ability to achieve its objective. The external assessment, which includes the business’s stakeholders, is valuable since it offers a different perspective. Forecasting is the process of making statements about expected future events based upon evidence, research, and experience. ____ is/are the source of a firm's ____, which is/are the source of the firm's ____. A product’s proprietary characteristics and by its attributes for which customers are willing, A product’s performance characteristics and by its attributes for which customers are, A product’s proprietary characteristics and by its attributes for which customers consider, A product’s performance characteristics and by its attributes for which customers consider. Assessing all four points of the SWOT acronym ensures a thorough evaluation. Value chain activities include all of the following EXCEPT: understand the parts of the firm's operation that create value and those that do not. To transform a short-run competitive advantage into a sustained competitive advantage requires that these resources are heterogeneous in nature and not perfectly mobile. Forecasting can be described as predicting what the future will look like, whereas planning predicts what the future should look like. Michael Porter classifies competitive strategies as cost leadership, differentiation, or market segmentation. ORDER THIS ESSAY HERE NOW AND GET A DISCOUNT !!! should do . Similarly, weaknesses and threats (the W and T of SWOT) are harmful toward achieving objectives, but weaknesses originate internally and threats originate externally. Explain what type of segmentation strategy the company 40. 39. Qualitative approaches are the opposite: they rely on logical premises, expertise, or past experience to generate estimates of future circumstances. You should provide a summary of the key challenges facing the organization based on the above analysis (these may be mainly internal or external depending upon the organization). As a result, the resource-based view offers some insight as to what defines strategic resources and furthermore what enables them to generate above-average returns (profit). …, िस नस्ल का मूलअ.खिल्लारी ब.कांगयामस. Analyzing the internal environment enables a firm to determine what it can do by identifying resources, capabilities, and core competencies in the internal organization. Internal analysis enables a firm to determine what the firm a . Internal analysis enables a firm to determine what the firm a. can do. ANS: A PTS: 1 DIF: Medium REF: 73 OBJ: 03-01 TYPE: knowledge NOT: AACSB: Business Knowledge & Analytical Skills | Management: Strategy | Dierdorff & Ru bin: Managing strategy & innovation 7. Quantitative forecasting generally employs statistical confidence intervals and historical data to project potential future trends that are based upon the criteria being analyzed. Internal analysis enables a firm to determine what the firm a. can do. Distinction – What makes your product or service so unique that the client would choose you? 6. For example, a business might estimate the exchange rate between the U.S. and the EU one year from now to determine the real financial cost of a project. Ivy Tech Community College of Indiana • BUSN 204, Institute of Management Technology • STRATEGY 522, MGMT 3004 The Internal Organization Resources, Capaibilities, Core Competencies, and Competitive Adv. a. can do. Answer: a. can do. b. should do. Get one-on-one homework help from our expert tutors—available online 24/7. a. and often rely on financial data (exchange rates, industry growth, etc.). Demonstrate the value and role of effective forecasting in the development of successful strategies. Ask your own questions or browse existing Q&A threads. Leaders have the responsibility of communicating the vision regularly, creating narratives that illustrate the vision, acting as role-models by embodying the vision, creating short-term objectives compatible with the vision, and encouraging employees to craft their own personal vision that is compatible with the organization’s overall vision. a product's performance characteristics and attributes for which customers are willing to pay. Make partial payments, or pay the full amount after receiving your custom essay. To transform a short-run competitive advantage into a sustained competitive advantage requires that these resources be varied in nature and not perfectly mobile. b. should do. Its yar c. will do. They also must not be easily imitated or substituted without great effort. A mission statement defines the purpose of a company or organization. Generally this type of forecast will include the opinions of experts, upper management, and market research. Answer: d. might do. True. Mission statements often include the following information: According to business professor Christopher Bart, the commercial mission statement consists of three essential components: To be truly effective, an organizational mission statement must be assimilated into the organization’s culture (as the theory states). You should also consider the resources and capabilities of the firm and how they impact upon the success or otherwise of the firm. Michael Porter defines three strategy types that can attain competitive advantage. Resources; capabilities; core competencies. Businesses set objectives after the SWOT analysis has been performed, which allows the organization to define achievable goals. (adsbygoogle = window.adsbygoogle || []).push({}); A mission statement defines the fundamental purpose of an organization or enterprise. a. can do. has three products . This is sometimes referred to as the “hole-in-the-middle” problem. थारपारकर ब. Porter warns that companies who try to accomplish both cost leadership and differentiation may fall into the “hole in the middle”; he notes that specializing is the ideal strategic approach. By emphasizing core competencies when formulating strategies , companies... . Examples of support activities include all of the following EXCEPT: A major U.S. manufacturer of children's toys believes its main competitive advantage lies in its continuing development of innovative toys and games. b. should do. False . ____ is measured by a product’s performance characteristics and its attributes for which customers are, By emphasizing core competencies when formulating strategies, companies learn to compete primarily. ORDER THIS ESSAY HERE NOW AND GET A DISCOUNT !!! a. _____ is/are the source of a firm’s_____, which is/are the source of the firm’s _____. Margins may be narrower, but quantity is larger, enabling high revenue streams. b. should do. You should also consider the resources and capabilities of the firm and how they impact upon the success or otherwise of the firm. In a best-case scenario, an organization conducts internal and external assessments relative to the mission statement to ensure it is being upheld. Change Needed to Decrease AD (b) Draw a suitable diagram for organisational structure of Grasimindustries. Analyzing the internal environment enables a firm to determine what it can do by identifying resources, capabilities, and core competencies in the internal organization. An external analysis enables a firm to determine what the firm a. can do. While both are managerial functions, forecasting is rife with external uncertainty while planning is hindered by internal uncertainty. Within the framework of the RBV, the chain is as strong as its weakest link, and therefore requires the resource to display each of the four characteristics to be a viable strategy for competitive advantage. The organization’s primary stakeholders, including clients/customers, shareholders, congregation, etc. c. will do. SWOT analysis is a strategic planning method used to evaluate a business’s strengths, weaknesses, opportunities, and threats. Describe the intrinsic competitive advantage defined by the resource-based view strategy. An important aspect of forecasting is the relationship it holds with planning. 5). Empirical research on the profit impact of marketing strategy indicates that firms with a high market share are often quite profitable, but so are many firms with low market share. a. is a statement of a firm's business in which it intends to compete and the customers which it intends to serve. d. might do. Business High School Internal analysis enables a firm to determine what the firm:_____.

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