Learning Journal Week 9.
1. In your own words and using referenced quotes describe what is meant in strategy by the ‘Resource-Based View’?
Management study guide, 2008. resource based view. [online] Available at: < http://managementstudyguide.com/resource-based-view.htm > [Accessed 2nd January 2013].
1. In your own words and using referenced quotes describe what is meant in strategy by the ‘Resource-Based View’?
According to Business
Dictionary " 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.”
The Resources Based View
is a method of viewing the firm which in turn of approaching toward the
strategy. It is the resources which are combined together which makes a firm
different from one another.
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?
Internal
Strategic Analysis focuses on the identifying the strength and weakness of an organization
so that it can meet the demand of the external environments like threats.
I
would apply on following models
Value
chain Analysis
MC
Kinsey Seven S Analysis
Resources
and Competence Analysis
VRIN
It
would help to find out the strength and weakness of an organization which would
help to analyze on which sector the organization should work hard.
We
can find the information from Primary sources as well as secondary sources. We
could also contact the organization expert to help to find the information by
small questionnaire.
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?!
We have made a team of 5 people in a group. We have divided each one of the person to do one of the task. We choose to do a presentation on Apple Inc Verses Samsung. All the information has been collected which has to sorted out now.
Our main concern is how to present the video and how to shoot the video. Our team has been moving on plan and team work has been effective.
Reference:
Resource based view, Business dictionary. Available at:http://www.businessdictionary.com/definition/resource-based-view.html#ixzz2Gy7L7awF [Accessed on: January 4, 2013]
Resource based view, Business dictionary. Available at:http://www.businessdictionary.com/definition/resource-based-view.html#ixzz2Gy7L7awF [Accessed on: January 4, 2013]
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