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Management Strategy and Decision Making Assignment

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Added on  2021-06-14

Management Strategy and Decision Making Assignment

   Added on 2021-06-14

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Management strategy and decision making1Management strategy and decision making
Management Strategy and Decision Making Assignment_1
Management strategy and decision making2Introduction:Internal analysis of the organization is considered as an exploration of the competency, cost position and competitive viability in the marketplace of the organization. Generally, while conducting the internal analysis it is possible to establish such measure which defines strengths, weakness, opportunities and threats for the organization. The most important objective of internal analysis is the determination of the organization’s strength and competency level. A strong organization use updated technology and tools which can be used for the purpose of achieving its goals. On the other hand, competent organization ensures solid brand identity which is built on the basis of expertise, capabilities and resources within the organization (Williams, 2018). This paper defines the internal analysis of the Wesfarmers and this is done in lieu of different areas which include resource and capabilities as competitive advantage, VRIO orVRINE, dynamics capabilities, and balanced scorecard. A brief conclusion is stated after that for concluding this paper. Resource and capabilities as competitive advantage: Resources and capabilities are used by various organizations for the purpose of defining their business strategy as the main source of competitive advantage. In this context, it can be saidthat companies use the resources and capabilities for determining the long-term performance of the company. Presently, there are number of companies which develop their strategy on the basisof development and exploitation of internal capacities. On other side, if resources and capabilities are considered as the important source of the competitive advantage, then it is also considered that each company is armed with its own resources and capabilities which are unique in nature and gives the company great source of competitive advantage (Milara, 2014). In case ofWesfarmers, they use their resources such as human talent and diversified workforce to develop strong relationship with the customers and this is considered as unique capability of the Wesfarmers which provide great source of competitive advantage. I other words, competitive advantage in case of Wesfarmer in diversity of workforce and this is the reason they focus on building capabilities of their employees (Wesfarmers, 2018). Capability Vs Competitive strength -5-4-3-2-1012345
Management Strategy and Decision Making Assignment_2
Management strategy and decision making3Capability areaTangible resourcesPhysical4Technological3Contracts4Products and services5Information2Financial 3Other0Intangible resourcesBrands4Reputation5Customer Goodwill3Supplier goodwill4Employee goodwill2Strategic alliance 4Parents 3Process and systemDecision making3Operational systems4M.I.S.2Financial information4Reward system4Competitor intelligence3Industry knowledge 5Environment knowledge3CultureValues and attitudes3Alignment 2Informal structure0Flexibility1Innovation4Change management 3Learning4
Management Strategy and Decision Making Assignment_3

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