Week 4 of strategic management

Ok, in this week, we will discuss about EVALUATING A COMPANY’S RESOURCES, CAPABILITIES, AND COMPETITIVENESS. What we should know in the first is about :

4.1 Identifying the Components of a Single-Business Company’s Strategy

in this chapter, what I know about the core concept is  A resource is a competitive asset that is owned or controlled by a firm

♦A capability or competence is the capacity of a firm to perform and internal activity competently through deployment of a firm’s resources.

♦A firm’s resources and capabilities represent its competitive assets and are big determinants of its competitiveness and ability
to succeed in the marketplace.

I also have learn the SWOT analysis that is

SWOT Analysis

is a powerful tool for sizing up a firm’s:

internal strengths (the basis for strategy)

Internal weaknesses (deficient capabilities)

Market opportunities (strategic objectives)

External threats (strategic defenses)

I also leran how to identify A COMPANY’S INTERNAL STRENGTHS

uA Competence

●Is an activity that a firm has learned to perform with proficiency—a capability.

uA Core Competence

●Is a proficiently performed internal activity that is central to a firm’s strategy and competitiveness.

uA Distinctive Competence

●Is a competitively valuable activity that a firm performs better than its rivals.