Lancer Gallery

733 WordsMar 15, 20163 Pages
Jialei Wang Strategy Dr. Alan Smith March 9, 2016 Chapter 6 Homework 1) Describe SWOT analysis as a way to guide internal analysis. How does this approach reflect the basic strategic management process? It is a widely used technique where managers create a quick overview of a company’s strategic situation. The basic premise behind SWOT analysis is that an effective strategy derives from a sound “fit” between a firm’s internal strengths and weaknesses and its external situation. The idea is to leverage the company’s strengths in light of the opportunities and minimize its weaknesses and threats. SWOT analysis is an integral part of the strategic management process because strategy is derived after a sound analysis of the firm’s…show more content…
VCA is an alternative approach involving mapping out a business as a chain of sequence activities. All of these activities can create the firms products or service. RBV uses the premise that building competitive advantage through resources and capabilities they develop and control. The firm should consider the fact on the situation to analysis the factors to analysis. 8) Attempt to analysis SWOT, VCA and RBV to yourself and your career aspiration. What are your major strengths and weaknesses? How might you use your knowledge of these strengths and weaknesses to develop your future career plans? My major is marketing; my major strengths are easy to find a job like sales, marketing researcher. However, there is still having many weaknesses. I need to have lots of skills, more

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