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SM Project Guidelines - Part Two


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SM Project Guidelines - Part Two

  1. 1. Strategic Management BUSM 3200 These guidelines are provided to help in your preparations for the group assignment. They do NOT represent in any way “model answers” or a correct approach. Rather they provide suggestions as to how to proceed with data collection and analysis leading to the completion of your report. Make sure you read the guidelines provided by the RMIT course coordinator carefully.BUSM 3200- Strategic Management (JAN 2013) GDS 2-1
  2. 2. The next section (4)-internal aspects Section 4 of the report: Identify those resources and competences of the firm (or SBU) that are likely to provide sustainable competitive advantage. Justify why these resources and competences can be regarded as strategic capabilities using the four criteria covered in the textbook.BUSM 3200- Strategic Management (July 2012) GDS 2-2
  3. 3. Internal analysis Read up Lecture Three AND Chapter Three of the text Understand the unique nature of your SBU or company and its main resources Not all resources are equally important to all firms- so DON’T do a long list of internal factors that have NO bearing to your analysis For example in Service Operations, staff may be a key resource capability Identify those resources that give the company its key capabilities which translate to its competitive advantageBUSM 3200- Strategic Management (July 2012) GDS 2-3
  4. 4. Listing the resources Here you need to be selective and discriminating Why are the resources important? Are they distinctive capabilities? And what is the core competence/s of the firm? Which areas of the business are these competences found in? Marketing? HR? Operations? Others? How are they sustainable (explain?)BUSM 3200- Strategic Management (July 2012) GDS 2-4
  5. 5. You can even apply the Value Chain to comment You can selectively discuss WHERE in the VALUE CHAIN of your firm does the capability exist and why it is strategically important for your firmBUSM 3200- Strategic Management (July 2012) GDS 2-5
  6. 6. Perhaps your capabilities are ‘leveraged’ by your networks with value chains OUTSIDE your business The value network (discussed in Chapter 3) Give specific examples as to where (whose supplier or distributor VC) your company can benefit from and how Also read slides 32-39 in my Lecture 3 SlidesBUSM 3200- Strategic Management (July 2012) GDS 2-6
  7. 7. Strategic capabilities and competitive advantage The four key criteria by which capabilities can be assessed in terms of providing a basis for achieving sustainable competitive advantage are: value, rarity, VRIN inimitability and non-substitutability READ UP and APPLY Source: Jay Barney: ‘Firm resources and sustained competitive advantage’, Journal of Management, vol. 17 (1991), no. 1, pp. 99–120 .BUSM 3200- Strategic Management (July 2012) GDS 3-7
  8. 8. You can comment using a table Type of Comments resource/ VRIN Criteria as to how capability the of the firm Valuable Rare Inimitable Non-Sub resource creates competitive advantages for the firm 1. x x 2. x 3. x 4. x 5. x x 6. x X: mark according to whether the resource meets the relevant criteriaBUSM 3200- Strategic Management (July 2012) GDS 2-8