unit 5

Question 1

Sketch the relationship between the organisation’s internal situation and strategic competitiveness.

Answer 1

Unit 5, page 4.

Question 2

List the internal analysis methods for effective strategy development.

Answer 2

Resource-based view (RBV)
Value-chain analysis
Functional approach
Internal Factor Evaluation Matrix

Question 3

Describe the RBV method.

Answer 3

Tangible assets (Mobile chipset), Intangible assets (iPhone brand name), and Organisational capabilities (rapid product innovation) make a competitive advantage.
Resources determine efficiency and effectiveness.
VRIO Framework: Valuable, Rare, Inimitability, Organised

Question 4

List some characteristics that make a resource valuable

Answer 4

Value
Superior resources
Scarcity
Inimitability

Question 5

Describe value-chain analysis.

Answer 5

Three aspects of resources that result in customer value:
– The product is unique and/or different.
– The product is cheaper than that of competitors.
– The organisation can respond to the customer’s needs very quickly.

Question 6

List the primary activities of the value-chain analysis.

Answer 6

Input logistics - distributing inputs to the product.
Operations - transformation of input to final product.
Output logistics - distributing the final product to customers
Marketing - influencing customers to buy the final product
Customer service - Maintaining the product value

Question 7

List the supporting activities of the value-chain analysis.

Answer 7

Procurement
Human resource management
Financial management
Technological development

Question 8

Study the Internal Factor Evaluation Matrix.

Answer 8

INTERNET, YOUTUBE