INTERNAL ENVIRONMENT: RESOURCES, CAPABILITIES AND CORE COMPETENCES

1. What are the advantages and disadvantages of SWOT analysis?

2) What is a resource? What is a capability? What is a core competency? How do they differ?

3) Briefly describe the four criteria used to determine sustainability of competitive advantages.

4) Briefly describe the primary and support activities in a firms value chain and how value chain analysis informs the companys strategy.

5) How can managers create value by establishing important relationship among the value-chain activities both within their firm and between the firm and its customers and suppliers? What are examples of these inter-relationships?

6) What are the advantages and disadvantage of conducting a financial ratio analysis of a firm?

7) Summarize the concept of the balanced scorecard. What are its main advantages?

8) Which analytical framework would you use to determine which of the firms resources and capabilities are most important to its competitive advantage?