Model of the Strategic Management Process: Internal Analysis Analysis
In this video, we are transiting from external to internal considerations in strategic management. The educator begins by analyzing the external environment, identifying opportunities and threats, and developing a mission, vision, values and goals.
Then, we delve into internal analysis, evaluating an organization’s resources, capabilities, competencies, and competitive advantages.
Resources encompass physical, financial, human, and intangible assets. Capabilities refer to organizational routines and processes, while competencies are shared value-creating skills. Competitive advantage sets an organization apart, achieved through value creation and cost management. Sustainability is key, ensuring a competitive edge over time.
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