Business Strategy Lecture - Business Strategy 04 - Internal Factors: Resources, Capabilities & Core Competencies
Master the Art of Strategy: Unlock Your Path to Business Success
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38 learners
What you'll learn
Understand key concepts and frameworks of strategic management
Analyze the role of internal and external factors in shaping business strategy
Develop strategies for managing competitive rivalry and dynamics
Apply strategic planning techniques for implementing and measuring success
This course includes
6.5 hours of video
Certificate of completion
Access on mobile and TV
Summary
Full Transcript
In this session, we talk about analyzing internal strengths and weaknesses of a firm. We highlight the importance of creating value for customers, look at resources and study the 5 attributes that make them true "core competencies". We introduce steps for a solid analysis of our industry value chain as well as our internal value chain and look at a few financial benchmarks that help us understand our firm's standing relative to its peers. Finally, we discuss why an honest and straightforward analysis of internal strengths and weaknesses is not easy, especially when internal politics gets in the way.
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