From an analysis of external and internal conditions, determine a firm’s market position and business level and supporting strategies.
The content of chapters 3 and 4 are some of the most important in strategic management as they relate the concepts of value creation, firm performance and competitive advantage. Knowing this, a firm can define its business unit level strategy (addressed in chapter 5).
So, using the language of this discipline, explain the way in which your firm creates value. If your firm has multiple business units, select one of them to use for illustration (rather than trying to do them all). You may also use Davenport University or a non-profit organization you have knowledge about using the following questions as a guide:
- How does the organization evaluate its performance in financial terms?
- How does it acquire, retain and enhance its “Human Capital”?
Being able to express these important concepts in the context of your firm/organization is an important executive skill. I look forward to reading your postings and collegial feedback.