Why is it important to identify internal strengths and weaknesses?
What will be an ideal response?
By analyzing the internal organization, firms identify their strengths and weaknesses as reflected by their resources, capabilities, and core competencies. In considering the results of examining the firm's internal organization, managers should understand that having a significant quantity of resources is not the same as having the "right" resources. The "right" resources are those with the potential to be formed into core competencies as the foundation for creating value for customers and developing competitive advantages as a result of doing so. Tools such as outsourcing help the firm focus on its core competencies as the source of its competitive advantages.
You might also like to view...
Which of the following characterizes a broad trend of the Reagan administration in dealing with the U.S. economy?
a. increasing government payments to businesses b. strengthening unions c. deregulating the economy d. raising taxes
All of the closing entries will adjust ____ to update that account
A) the drawing account B) the capital account C) the cash account D) the income summary account
Which of the following transactions occurs when a seller sells goods to a buyer on credit and retains a security interest in the goods?
A) two-party secured B) three-party secured C) perfected D) attached
Which of the following is not a purpose for a direct quotation?
A) To duplicate exact wording before criticizing an idea B) To repeat identical phrasing because of its precise wording C) To add length to a researched document D) To provide objective background information