03 BUS 444 Chap 3

03 BUS 444 Chap 3 - Chapter Three LearningObjectives After...

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Assessing the Internal Environment of the Firm Chapter Three
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Learning Objectives After reading this chapter, you should have a good understanding of: LO1 The benefits and limitations of SWOT analysis in conducting an internal analysis of the firm. LO2 The primary and support activities of a firm’s value chain. LO3 How value-chain analysis can help managers create value by investigating relationships among activities within the firm and between the firm and its customers and suppliers. LO4 The resource-based view of the firm and the different types of tangible and intangible resources, as well as organizational capabilities. 3-2
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Learning Objectives (cont.) LO 5 The four criteria that a firm’s resources must possess to maintain a sustainable advantage and how value created can be appropriated by employees. LO 6 The usefulness of financial ratio analysis, its inherent limitations, and how to make meaningful comparisons of performance across firms. LO 7 The value of the “balanced scorecard” in recognizing how the interests of a variety of stakeholders can be interrelated. LO 8 How firms are using Internet technologies to add value and achieve unique advantages. (Appendix) 3-3
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The Limitations of SWOT Analysis Strengths may not lead to an advantage SWOT’s focus on the external environment is too narrow SWOT gives a one-shot view of a moving target SWOT overemphasizes a single dimension of strategy 3-4
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Value Chain Analysis Value-chain analysis a strategic analysis of an organization that uses value creating activities. Value is the amount that buyers are willing to pay for what a firm provides them and is measured by total revenue 3-5
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Value Chain Analysis Primary activities contribute to the physical creation of the product or service, its sale and transfer to the buyer, and its service after the sale. inbound logistics, operations, outbound logistics, marketing and sales, and service 3-6
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QUESTION In assessing its primary activities, an airline would examine: A. Employee training programs B. Baggage handling C. Criteria for lease versus purchase decisions D. The effectiveness of its lobbying activities 3-7
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Value Chain Analysis Support activities activities of the value chain that either add value by themselves or add value through important relationships with both primary activities and other support activities procurement, technology development, human resource management, and general administration.
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03 BUS 444 Chap 3 - Chapter Three LearningObjectives After...

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