Journal Entry (Week 9)- Internal Analysis

Questions

1) In your own words and using referenced quotes describe what is meant in strategy by the ‘Resource-Based View’?

2) How might you undertake ‘Internal Strategic Analysis’? What models would you apply and why? Where would you go to find the information you need?

3) Talk about your group video work. How is it going so far? Do you have a plan? What are you most worried about at the moment? What is going well?



Resource Based view:

Resource based view is a management device used to assess the available amount of a business strategic assets. In essence, the resource-based view is based on the idea that the effective and efficient application of all useful resources that the company can muster helps determine its competitive advantage.(Business dictionary)
According to RBV, a firm is a bundle of resources and the way the resources are combined makes the firm different from another firm. This is an inside out approach for which the starting point is the analysis of the internal environment.



Internal Strategic Analysis:

I would conduct the internal strategic analysis by identifying the following points about the organization.

Ø The objectives and purpose of the organization

Ø It’s resources and capabilities

Ø How organization configures and co-ordinates its value-adding activities

Ø Structure of the organization, characteristics of its culture

Ø Performance of the organization

I would apply the following models.

Ø Resource and competence analysis

Ø value chain analysis

Ø McKinsey Seven S analysis

Ø financial analysis

Ø VRIN

(Source: Value based management)

The information obtained after conducting these analyses will in turn provide the complete internal analysis of the firm i.e. the Strengths and weaknesses.

These information’s can be found through primary sources like company website or through secondary sources like books, websites, reports, publications etc.



Video group work:

We are moving very slowing at the moment, and that is my greatest concern. Due to constant celebration i.e. Christmas and New Year, our group hasn’t been able to solely focus on our main project. We need to learn to prioritize. However, our team spirit and the assurance that everyone is there for each other is our greatest asset. We have decided to do our presentation on “Apple v/s Samsung”. Being an avid user of Apple, to me this assignment is proving to be very interesting. Each member has his own role to play.
Our plan of action is to approach the presentation bit by bit as the famous saying goes, “How do you eat an elephant? Ans: Bite by bite”.



Reference:

Management Models, Value based management. Available at: http://www.valuebasedmanagement.net/ [Accessed on: January 3, 2013]

Resource based view, Business dictionary. Available at: http://www.businessdictionary.com/definition/resource-based-view.html#ixzz2Gy7L7awF [Accessed on: January 2, 2013]