Part 1 : Please answer the following in a min of 200 words.
What strategies and analytical tools would you suggest a manager use for assessing the company’s resources, capabilities, and value chain? What challenges do you think the manager would face in terms of the accuracy of the information?
Part 2: Please comment and respond on the following post. min of 100 words.
The best strategies and analytical tools that manager can use for assessing a Company’s resources, capabilities, including value chain according to research (www.villanovau.co/resources-analysis) fall within the Porter’s five forces model. This model gauges business’ position relative to the five distinct forces charactering the industry’s competition. For example: the strength of the competition that influence the extent of the Company’s potential profitability that include the forces intensity of rivalry as to how much of a threat that is posted by new market entrants, and the amount of bargaining power held by suppliers as well as a customers and, the level of the threat posted by the substitute product. By understanding and refining the strategies and tactics in place, the businesses can adjust their directions to improve the industry position and performance. It can help the Manager to identify business distractions and how their removal can drive advances in the market, with customers and supplier. Also, for businesses to effectively respond to internal and external circumstances, the manger needs to make sure proper resources and proficiencies are in place and ready to implement. Additionally, the manager needs to consider the (SWOT) analysis which maps an organization’s strength and weaknesses against the opportunities and threats posted to the company. Finally, a wealth of tools are available to support the kind of business analysis that enable an organization to chart a future course that aligns with its overarching mission, objectives and strategy. The better the grasp that business analyst have on these tools and where and when they have value, the better and able the manager may be able to understand and evaluate issues and ideas for effective action. According to research, some of the challenges managers face when using strategies and analytical tools to assess company’s resources, capabilities and value chain according to research (www.forbes.com) can be characterized as distributed matrix and global, with functions that often operate autonomously in the absence of governance. These factors make efficient and effective identification, utilization and implementation of competencies difficult. According to research ( www.forbes.com) 69 percent of organizations surveyed claimed that their competency management was only somewhat, or not at all effective. Additionally, with regard to integrity, business has never faced the type of moral challenges that it faces in today’s global economy. For example: everyone is struggling to be more successful to make the next quarterly earning estimate to keep their job and earn big bonus, or to compete effectively. Finally, one of the major challenges for all companies is identifying, assessing and mitigating risks including human and financial capital. Also, the lack of a sophisticated problem-solving competency among today’s business leaders is limiting those managers the ability to adequately deal with risks facing their companies/businesses.