In order to understand the threats and opportunities facing an organization, you need a thorough understanding of its external context, including not only its industry, but the larger environment in which it operates. The proper analysis of the external context, together with the firm-level analysis you learned in Chapter 3 (e.g., VRINE, value-chain), allow you to complete a rigorous analysis of a firm and its options. You could say that with these tools you can now perform a thorough and systematic (rather than intuitive) SWOT analysis; that is, an assessment of a firm's strengths, weaknesses, opportunities, and threats.
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
The advantage is that the wage bill is reduced, the disadvantage of the retrenchment growth strategy is that a firm may loses employee without reaching their full potential.
Minimizing cost
* INTERNATIONAL FIRM - simply do import and export - operates in foreign countries through licensing and franchising - managed by nationals of home country - concentrates in some countries or regions * GLOBAL FIRM - invests and is present in many countries - has affiliates, subsidiaries and branches in many countries - draws resources such as labor,capital and materials from a global pool - pursues global business strategy. * An International firm can become a global firm by pursuing global business strategy
Induced strategic behavior is a top-down process that link current strategy and structure to create innovation intertwined with that strategy and structure. This form of venturing filters strategy a structural hierarchy and results in internal innovation that is highly consistent with the firm's current strategy.
It is very important to monitor the macro-environment of a firm as they will directly affect the organization. These are external factors that a firm will not have control over and will affect the performance of the business.
How can a firm implement this Strategy.
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explain how a firm's human resources influence its performance
Discuss Panera's business level strategy
HUMAN RESOURCE KSAs needed by the firm to achieve the strategy and what KSAs are currently resident?
Strategic audits are examinations and evaluations of strategic management processes including measuring corporate performance against the corporate strategy. Whenever a deficiency is noted or performance of an organization is sub-par, the organization may elect to perform a strategic audit. This may be done with in-house auditors, or an audit firm may be contracted to perform the audit. The auditors will audit performance of the organization against the current corporate strategy and seek to identify problems within the current strategy that may be tied or can be traced to poor performance. Upon completion of the audit, a report will be created regarding the auditing firm or group’s findings and submit the report with recommended remedies to the management of the organization. The organization will then seek to implement the proposed remedies with hopes of increasing organizational performance.
External secondary data - data that is obtained outside the firm itself.
When is and what reason is Home replication strategy used. provide a firm that uses home replication strategy.
The strategy of investors who are attempting a leveraged buyout is:
Internal growth, or organic growth, refers to growth strategies where a firm uses its own resources. External growth involves a firm using or accessing the resources of another firm to grow. Examples of external growth strategies include joint ventures, strategic alliances and acquisitions.
The advantage is that the wage bill is reduced, the disadvantage of the retrenchment growth strategy is that a firm may loses employee without reaching their full potential.