This essay, prepared for a Competitive Strategy course (HI6006) at Holmes Institute, analyzes three key strategy development tools: SWOT analysis, Porter's Five Forces model, and the Resource-Based View. The essay explains each tool's framework and application within a business context, using Apple, UBER, and Zara as illustrative examples. SWOT analysis is presented as an internal framework assessing strengths, weaknesses, opportunities, and threats. Porter's Five Forces model is examined as a tool for understanding external market forces, including industry rivalry, new entrants, buyer and supplier power, and the threat of substitutes. The Resource-Based View is discussed as a framework focusing on internal resources, particularly through the VRIO model (valuable, rare, inimitable, organized), to achieve competitive advantage. The essay concludes by emphasizing the importance of these tools for strategic planning, differentiating products, and addressing market challenges, thereby helping businesses to gain a competitive edge.
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