Assignment: Week 9

1.    In your own words and using referenced quotes describe what is meant in strategy by “Resource-Based View”?

• Resource-Based view is based upon the idea that effective and efficient application of all useful resources that the company can assemble helps to determine its competitive advantage.

2.       How might you undertake ‘Internal Strategic Analysis’? What models would you apply and why?           Where would you go to find the information you need?

• Internal strategic analysis includes ‘Strengths’ and ‘Weaknesses’ which mainly focuses in the internal aspects which gives the organization certain advantage and disadvantages during the process of acquiring the fixed targets. Strength is the positive factor of the organization that aids in achieving the required target where as Weaknesses are the negative factors that hinders in the achieving or implementation of any strategies.

          I would apply the following models:

          Industry analysis: It helps in identifying the key success factors of the industry.

          Business Strategy: Is useful in description of business goals and strategies of the firm.

          SWOT analysis: Is useful in analyzing the internal as well as external factors affecting the firms

3.       Talk about your group video work. How is it going so far? Do you have a plan? What are your most worried about the moment? What is going well.

• Our group video is going quite well as planned. Yes we have formulated a plan in which each member is given a specific task. I most worried about how our video will turn out to be. 

REFERENCES:

1.      Akio T, (2005) The Critical Assessment of Resources Based View of strategic analysis (online) http://www.ritsumei.ac.jp/acd/re/k-rsc/ras/04_publications/ria_en/03_8.pdf (Accessed on April 28 2013)

2.      Mind Tools, (2013) Strategy Tools (online) http://www.mindtools.com/pages/main/newMN_STR.htm (Accessed on April 27 2013)