strategic management
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I would like some assistance with the following questions. Short answers, please...
1.How does internal analysis fit within a SWOT approach?
2.How does a firm's industry life cycle impact strategy formulation? What competencies and skills are needed at which evolutionary stage?
3.What is the social responsibility (CSR) of the firm in a competitive marketplace?
4.How does the stakeholder approach assist in developing CSR strategies?
5.What is the difference between a merger and an acquisition? Which seems riskier? Why?
6.Why would a firm use joint ventures, strategic alliances, and outsourcing? How do these strategies reduce risk?
7. Mergers and Acquisitions are once again becoming "popular" - explain why!
8.What are the opportunities and threats of a firm which employs a single or dominant product business model?
8.What are the opportunities and threats of a single product/dominant product firm in emerging industries, transition industries, mature, declining, and fragmented industries?
9.Give two examples of a single/dominant product firms, their competitive strategy, and why that strategy fits or does not fit their industry life cycle.
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1.How does internal analysis fit within a SWOT approach?
Internal analysis is understanding the business in depth. This analysis is based on the resources and capabilities of the firm. Within the SWOT the internal analysis refers to the internal factors that giver the firm certain advantages and disadvantages in addressing the wants of the target market. The core competencies are called strengths and these give competitive advantage to the firm. The limitations of the firm in meeting the needs of the customers are called weaknesses. Each of these strengths and weaknesses should be perceived from the market perspective because each of these focus on customers.
2.How does a firm's industry life cycle impact strategy formulation? What competencies and skills are needed at which evolutionary stage?
The firm's industry life cycle impacts strategy formulation because to be successful, a firm requires a different strategy at different phases of the life cycle. At the early stages phase the firm requires the skills of product design and positioning. At the innovation phase the company must have competencies in designing new processes. At the shakeout phase companies must have abilities to reduce costs, if the firm has the competency of developing economies of scale then it will perform well. At the maturity stage, the firm must have the skills and competencies needed to protect its market share. Finally, in the declining phase the skill of the firm in changing over to a new industry is needed.
3.What is the social responsibility (CSR) of the firm in a competitive marketplace?
The social responsibility in a competitive market place is that even as the firm executes its competitive strategy of cost leadership, differentiation, or focus, it monitors its own actions and ensures that it complies with all laws, global standards, and business ethics. The marker will take responsibility for the impact of its competitive actions on the society, employees, customers, environment, and stockholders. For example, ...
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