Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following recent readings and videos below, identify one of your organization's core capabilities (aka core competencies, I will treat the terms interchangeably), and comment on

Following recent readings and videos below, identify one of your organization's core capabilities (aka core competencies, I will treat the terms interchangeably), and comment on the degree to which that core capability might serve the organization(or not) given the drivers you are identifying. Restate the name of your organization and focal question, and a response to the following question:What do you believe is one of your organization's core capabilities, and how important could it be important to the organization's competitiveness (or not) given the drivers you are identifying? Please provide sources with the response. See the bottom of my chosen organization. Then respond to the bold questions above.

Focus on one core capability, not multiple, and mention the drivers you are considering. As mentioned in recent voice threads and readings, core capabilities are notable in that they may have these qualities:"uniqueness, importance, controllability, durability, andappropriability(of excess profit)" (Schoemaker, 1997, p.63), or they may be valuable, rare, costly to imitate andnonsubstitutable (Hitt, Ireland, & Hoskisson, 2014). Examples of core capabilities that previous students have submitted include the following (you may or may not agree with them):

  • The strength of its storytelling and narration (Disney)
  • Research and development facilities that produce healthcare innovations (Mayo Clinic)
  • Strong industry and partner relationships (Framework)
  • Strong content delivery network (Akamai Technologies)
  • Exceptional customer service (Nordstrom, and American Express)

Readings & Videos

Hitt, M. A., Ireland, R. D., &Hoskisson, R. E. (2014).Strategic Management: Competitiveness andGlobalization(11th ed.). Stamford, CT:CengageLearning.

Schoemaker, P. J. H. (1997). Disciplined imagination: From scenarios to strategic options.International Studies of Management & Organization, 27(2), 43-70.

image text in transcribedimage text in transcribedimage text in transcribed
Driving Force by 2033 A. Uncertainty B. Impact Rating* Total (AXB) Rating* Safety and efficacy of 8 CO 72 mRNA vaccines Cost of mRNA 7 49 vaccines Regulatory approval 9 8 72 process for mRNA vaccines Public acceptance 7 8 56 towards mRNA vaccinesDISCIPLINED IMAGINATION 63 While Table 5 focuses on Apple's core capabilities, any rm can use the basic matrix. The question to ask for each cell of this matrix is \"What does it take to do well in this segment under this scenario?\" Rather than list many factors, the challenge is to identify the subset of capabilities that meet such criteria as uniqueness, importance, control- lability, durability, and appropriability (of excess prot). The more time and resources these core capabilities take to develop, the greater their payoff can be (Amit and Schoemaker, 1993). Also, complemen- tarity among the core capabilities is important. Ideally, a firm should be able to leverage its core capabilities across multiple products and markets, in a variety of future worlds (see gure 2). The identication of a rm's core capabilities must occur in the context of an industry's key success factors (De Vasconcellos and Hambrick, 1989). Think of core capabilities as those strategic variables that a historian will pick to best discriminate winners from losers in your industry. For example, looking backward, rawmaterial sourcing proved to be a key success factor in the uranium and petroleum indus- tries. Economies of scale were critical in steel and shipbuilding. Qual- ity design was a core capability in the aircraft and hi- industries. For beer, lms, and home appliances, distribution has been of overriding importance (Ohmae, 1982). The challenge in articulating a strategic vision is to identify the most important industry competencies looking forward. Then determine which core capabilities should be developed for one's own firm. By carefully analyzing every cell of the matrix in Table 5 from a competitive perspective, capabilities may surface that are crucial for multiple cells. Such overlapping capabilities should be clearly identied and made an integral part of the company's overall strategic vision (above and beyond the SBU visions). Of course, it may be that a few core capabilities appear more than once per cell. In that case, there may be no basis for a strategic vision in which multiple capabilities function in harmony at the corporate level. The rm may be little more than a collection of distinctly differ- ent cempanies under one umbrella (operating in strategically different segments), whose core capabilities do not reinforce each other. Such lack of synergy is a serious issue. It could cause conflicting signals and confusion, as multiple driving forces need to be managed and coordi- nated. Thus, strategic visions need to consider issues of organizational design, skill sharing, and culture. They must also address what practi- cal options exist for moving the company in the desired direction. Chosen Organization: Moderna, Inc. Focal Question: What could affect the need for mRNA vaccines over the next ten years, and what should Moderna Inc. do to prepare?" Most Ambiguous, Challenging, or Surprising Driver: Public acceptance Description: The acceptance of mRNA vaccines by the medical community is highly dependent on the attitudes of physicians and patients toward this new technology. As mRNA vaccines are comparatively new compared to traditional vaccines, some healthcare professionals and patients may hesitate to use them. The level of acceptance and condence in rnRNA vaccines among physicians and patients will be crucial to their widespread adoption. The Impact on Moderna, Inc.: Public acceptance can directly affect Moderna, Inc. First, if physicians and medical professionals are W or hesitant to recommend or administer mRNA vaccines, it could slow down the adoption rate and limit Moderna's mRNA vaccine products' market penetration. This may influence the company's revenue and market share. Second, for mRNA vaccines to be successful, patient acceptance is crucial. If patients are hesitant or unwilling to receive mRNA vaccines due to fears or misperceptions, the demand for Moderna's vaccines could decrease. A decline in order may impact prots and overall growth potential. Uncertainty rating: I would evaluate the unpredictability of public acceptance of rnRNA vaccines as a 7' out of 10. Various factors can influence the acceptance of new medical technology, including public perception, scientific evidence, regulatory approvals, and media coverage. It is uncertain how quickly and to what extent physicians and patients will adopt mRNA vaccines due to these factors. Impact rating: I rate the impact of public acceptance toward mRNA vaccines as eight out of ten. The level of acceptability and confidence in mRNA vaccines will substantially impact the market demand and adoption rate. A We reception from physicians and patients could result in widespread adoption and significant market expansion for Moderna. In contrast, substantial skepticism, or opposition could hinder the company's efforts to promote and expand the use of rnRNA vaccines

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Techniques In Business And Economics

Authors: Douglas Lind, William Marchal

16th Edition

78020522, 978-0078020520

Students also viewed these General Management questions

Question

1. Offer surprise rewards for good participation in class.

Answered: 1 week ago