Use Porter’s Five Forces Model to identify key elements of each competitive force that can impact the firm. a. Evaluate the importance of each element for the organization
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Use Porter’s Five Forces Model to identify key elements of each competitive force that can impact the firm.
a. Evaluate the importance of each element for the organization
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- Porter’s model is essentially a structural means of testing the competitive environment of an organization to provide a clear understanding of forces at work. The task of the Strategist is to determine which of these forces are of the greatest importance to the organization. EXPLAIN.What does the following mean? Please explain. “It many be that not just a few resources and capabilities enable a firm to gain a competitive advantage but that literally thousands of these organizational attributes, bundled together, generate such advantage”Write a detailed note on Michael Porter’s competitive strategies with examples describe the necessary steps to implement the strategy
- Porter’s five forces is an analysis strategy for an organization's business environment and is used to identify an organization's competitive positions. Strategic planning managers, marketing managers, sales managers and supply chain managers commonly use this technique when looking at the competitive advantage. Looking at your competitive advantage is important to aligning the operational needs with the business strategies. Scenario You’ve spent the past few weeks analyzing the organization Morgan Stanley, and have learned about its organizational needs. Your next project as manager is to develop a proposal for how the organization can align their operational needs with the organization’s business strategies. This proposal needs to include an analysis so the executive level can understand the past in order to improve the future of the organization.Discuss with the organization the effectiveness of Porter’s Competitive Forces Model and his Value Chain Analysis process.How do you use the implementation and innovation strategy for Kibbles and Bits with the Final internal analysis, andVarious components of your company's value chain? Deploying your company's resources in a way that contributes to its competitive advantages, Kibbles and Bit's anticipated financial performance versus those of its competitors?
- Considering that you are opening a new business of your own, so to know about the competitive strength, use porters five forces to analyze competition for the business.1- What are core competencies of companies? GIVE EXAMPLE 2- What role do dynamic capabilities play in the ability of companies to create competitive advantage in rapidly changing environments? GIVE EXAMPLES PLEASEWhat type of management system would support the creation, organization and dissemination of business knowledge to staff throughout a company. a.Management information system. b.Strategic information system. c.Knowledge management system. d.Executive management system. Two concepts that shape much of the strategy that companies employ are: a.Value chain analysis and applying the five forces model. b.Applying the forces model and an integrated approach. c.Value chain analysis and having a competitive advantage. d.Applying the five forces model and having a competitive advantage. Profit and loss analysed by a company would need to access current sales figures and not access past sales figures from several years ago. What kind of information would this be? a.Information that is valid b.Information that is reliable. c.Information that is accurate. d.Information that is timely.
- What are the different dimensions of the competitive strategy? If the competitive strategy is to ‘improve customer experience’, what actions would be involved in achieving strategic fit?Two basic competitive strategies are: Cost leadership and Product / service differentiation. You have two business choices in the current pandemic, (1) cleaning service or (2) healthy homemade cooking. Naturally many things are different from the two types of business that you want to be in.Make a business analysis of 2 this type of choice is both qualitative and quantitative, and all of them are supported by reference data and simple calculations to support your competitive strategyPolicies, rules, procedures and regulations are required in the firm. Explain theirsignificant effects on the operations of the firms?((600-700words)