Part 1After reviewing chapter 4 of Ketchen, D & Short, J. (2012).Strategic Management: Evaluationand Execution, you will consider two theoretical views of an organization’s internalenvironment. First, explain the resource-based theory and its relevance to strategic management.Then, select one of the other theories (enactment, environmental determinism, institutionaltheory, or transaction cost economics) and compare and contrast it to the resource-based view.Which do you think best explains the internal environment? Why?At least two pages and three sources. APAPart 2After reading the case “Restoration Affiliates,” reflect on the challenges of the organization.Build a value chain of the organization’s activities and identify the strongest and weakest link.Then, based on the information in the case, perform a SWOT analysis. Make sure that there areat least three strengths, weaknesses, opportunities, and threats each. Finally, based on youranalysis of the value chain and SWOT, explain what is the most important strategic challenge oropportunity facing the firm and how it could be implemented.
