Global Strategic Management Assignment
INTERNAL APPRAISAL
Global Strategic Management Assignment
Introduction:
Strategic Management is the process of strategic decision-making that sets the long-term direction for the organization. The main objective of strategic management is to achieve sustainable competitive advantage. The steps involved in strategy process are: Global Strategic Management is the process of designing a coherent, coordinated, integrated and unified strategy that sets the degree to which a firm globalizes its strategic behaviors in different countries through standardization of offerings, configuration and coordination of activities in different countries, and the integration of competitive moves across countries.
In order to carry out strategy process
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It identifies the strengths and weaknesses that effect the company’s ability to achieve its goals. Internal appraisal is auditing of internal environment to identify strengths and weaknesses of an organization so as to match and control them to exploit the available opportunities in the industry. It identifies a firm’s capabilities and competencies in specific areas as well that can be used to grab the opportunities available in the industry. An organization competency defines the performance of an organization. It is a dynamic and on-going …show more content…
Example:
• The core competency of General Motors will be to build cars.
• The core competency of Boeing is its dynamic capabilities in building aircrafts.
• The core competency of Walt Disney Corporation is the art of storytelling, its ability to animate and design programs.
Every company has core competency and should stay with it. If moved out of the line will lead to mission creep. Mission creep states that change in direction from that of the set original mission. This leads to a strategic plan that is not in accordance of your core competency nor in line with the mission of company, ending with non-addition of value to organization.
Business is too complicated and one cannot focus on all the activities and focusing on areas where business can add value is said to be the activity in which company has Core Competence. This is the area where company has deep understanding and skills.
Core Competency of an organization can be identified by studying and analyzing the skill for developing the products and services offered to potential customers. Such skills are difficult to imitate.
VRIO framework can be used by managers to identify core competency of a
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