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MGT 300 | Strategic Planning - Resources and Capabilities Gap Analysis

Added on - 13 Mar 2020

In internal capability analysis, resources are both our tangible and intangible assets. Capabilities are the processes, systems, or ways of coordinating and combining resources to gain a competitive advantage

Also check : PART 1 - Environmental analysis  And PART 2 - Industry analysis

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Strategic Planning Worksheet #3Resources and Capabilities Gap AnalysisWhat are our strategic strengths and weakness that will determine our future?Internal capability analysis, resources are both our tangible and intangible assets. Capabilities are the processes, systems or waysof coordinating and combining resources to gain a competitive advantage.Complete the table below by describing our strengths and weaknesses compared with our competitors.FactorStrengths relative to competitorsProvide evidence and examplesWeaknesses relative to competitorsProvide evidence and examplesMarketposition(History,reputation,brand, marketshare, sales,productoffering)The company has the strength that it is the onlyorganization manufacturing traditional products inthe marketLike, the company used its position in the marketto create the demand of traditional cruisers in themarket.The current market position of the companyis degrading and losing its market share.The reason of degraded position in themarket is due to slower speed of thecompany to adapt changes (MacGillivray,2014).People(recruiting andselection,retention,performancemanagement,rewards, skillsandknowledge)The employees of the company are well trainedand efficient in creating specialized traditionalproducts.The company being ancient family ownedbusiness due to which the employees of thecompany are efficient in understanding the needsof the customers; and they fulfil them accordingly.In employees of the company are notadaptable to faster technology change.Apart from using traditional techniques, it ismandatory for the employees to adaptinnovative technology in order to grow in themarket.MGT300_Assessment1_Worksheet3Last updated on12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage1of5
FactorStrengths relative to competitorsProvide evidence and examplesWeaknesses relative to competitorsProvide evidence and examplesOrganisational processesand systems(core processidentified,mapped,measured andbeing improvedThe company uses traditional managementprocess which helps the company in creatingformal organizational structure resulting inrestriction along with flexibility (Wieczorek, et. Al.,2013).Due to less acceptable to innovation, theemployees get dissatisfied with the servicesof the company resulting in high employeeturnover rate.Technology(Researchfacilities,creativity andinnovation)The company manufactures creativelyspecialized products in the market.Thus, it is demand by premium customersCompany is less inclined towardstechnology due to which it lost the racebecause of not applying innovativetechnology in manufacturing process.Financialposition(access tofunds, ratiosand cash flow)The company has preserved shares andreserves which shall be used in case ofemergency.Due to which reserves were liquidated to meetmarket share.The financial position of the company is notstable and it is depleting with time, resultingin liquidation of assets.Marketing andsales(marketresearch,productManufacturing traditional product has become theUSP of the company which helps it in marketingand sales, resulting in specialization also.Less competitive strategies used of thecompany leading Tudor to lose its marketposition.Due to which cheap substitutes gained themarket share (Morrissey, & O’Donoghue,MGT300_Assessment1_Worksheet3Last updated on12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage2of5
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In conclusion,  the company is lacking in the market due to its inefficiency to compete and adapt to changes present in the market, and the company manufactures products that require costlier raw materials due to which the manufacturing becomes cost-ineffective.