Submit a memo in which you outline the key resources of a cell phone company. In the memo, you must also explain how the key resources are linked to competitiveness.
Address the following in your memo:
* Discuss the role and value of resources and capabilities in strategy formulation for the featured cell phone company.
* Research and discuss the key resources of the featured cell phone company.
* Explain how the key resources are linked to competitiveness.
* Discuss the steps associated with putting resources and capabilities to work.
* Research one other cell phone company, and explain its key resources and its difference to your featured cell phone company.
* Explain what strategy recommendations the company should offer before implementing the cell phone.
Please find guidelines and ideas for Strategic Management in Dynamic Environments in the attached file.
Running Head: MEMO
Strategic Management in Dynamic Environments
To: Mr. ABC
Date: May 30, 2011
Subject: Strategic Management in Dynamic Environments
In this memo, there will be a discussion of roles and values of key resources in formulation of the strategy for a cell phone company. Key resources as well as connection between these resources and competitiveness will also be discussed in this report.
Role and Value of Resources and Capabilities in Strategy Formulation:
In the current environment, internal resources and capabilities of a firm play an important role in the formulation of effective strategy for the company. According to resource based view, resources and capabilities are the primary source or determinant of strategy and performance of a firm (Grant, 2005). Some of the roles of resources and capabilities in strategy formulation are as follow:
➢ Resources including technology, skilled human resources, capital, customer relations etc. can help the call phone company to formulate its strategy in the development of advanced cell phones with more features and applications.
➢ In cell phone industry, internal capabilities can help to provide secure or strong foundation for long-term strategy of the company in managing external environmental changes (European Conference on Knowledge, 2002).
➢ In strategic management, key resource and capabilities has the values for the cell phone company. It is because; it will be helpful to develop better quality cell phone with advance features and applications.
Key Resources of Featured Cell Phone Company:
The resources are the productive asset that owned by the businesses for performing business activities. Some of the important resources of a featured call phone company are as follow:
The solution discusses strategic management in dynamic environments.