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MGT 300 | Strategic Planning - Resources and Capabilities Gap Analysis

5 Pages1003 Words233 Views
   

Martin Higher Education

   

Logistics Management (MGT300)

   

Added on  2020-03-13

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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

MGT 300 | Strategic Planning - Resources and Capabilities Gap Analysis

   

Martin Higher Education

   

Logistics Management (MGT300)

   Added on 2020-03-13

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Strategic Planning Worksheet #3Resources and Capabilities Gap Analysis What 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 ways of 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 competitors Provide evidence and examplesMarket position(History, reputation, brand, market share, sales, product offering)The company has the strength that it is the only organization manufacturing traditional products inthe marketLike, the company used its position in the market to create the demand of traditional cruisers in the market.The current market position of the company is degrading and losing its market share.The reason of degraded position in the market is due to slower speed of the company to adapt changes (MacGillivray, 2014). People (recruiting and selection, retention, performance management, rewards, skills and knowledge)The employees of the company are well trained and efficient in creating specialized traditional products.The company being ancient family owned business due to which the employees of the company are efficient in understanding the needsof the customers; and they fulfil them accordingly.In employees of the company are not adaptable to faster technology change.Apart from using traditional techniques, it is mandatory for the employees to adapt innovative technology in order to grow in themarket.MGT300_Assessment1_Worksheet3Last updated on 12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage 1 of 5
MGT 300 | Strategic Planning - Resources and Capabilities Gap Analysis_1
FactorStrengths relative to competitorsProvide evidence and examplesWeaknesses relative to competitors Provide evidence and examplesOrganisational processes and systems(core process identified, mapped, measured and being improvedThe company uses traditional management process which helps the company in creating formal organizational structure resulting in restriction along with flexibility (Wieczorek, et. Al.,2013).Due to less acceptable to innovation, the employees get dissatisfied with the services of the company resulting in high employee turnover rate.Technology(Research facilities, creativity and innovation) The company manufactures creatively specialized products in the market.Thus, it is demand by premium customersCompany is less inclined towards technology due to which it lost the race because of not applying innovative technology in manufacturing process.Financial position(access to funds, ratios and cash flow)The company has preserved shares and reserves which shall be used in case of emergency.Due to which reserves were liquidated to meet market share.The financial position of the company is not stable and it is depleting with time, resulting in liquidation of assets.Marketing andsales(market research, product Manufacturing traditional product has become theUSP of the company which helps it in marketing and sales, resulting in specialization also.Less competitive strategies used of the company leading Tudor to lose its market position. Due to which cheap substitutes gained the market share (Morrissey, & O’Donoghue, MGT300_Assessment1_Worksheet3Last updated on 12-Mar-20Study Group Australia Pty Limited trading as Martin College, Martin Higher EducationPage 2 of 5
MGT 300 | Strategic Planning - Resources and Capabilities Gap Analysis_2

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