Posted: December 9th, 2015

Home work

Home work

The book for reference:

Hitt, M., Ireland, R., & Hoskisson, R. (2013). Strategic Management Inputs. In Strategic management: Competitiveness & Globalization: Concepts and cases (10th ed.). Mason, Ohio: South-Western Cengage Learning.

QUESTION 1

Knowing the external environment around an organization is as important as knowing the organization itself.

Pick an organization to analyze.  Respond to the following:

•Identify the three most important elements of the general environment that impact your organization.

•Identify the three most important elements of the industry environment that impact your organization.

•How do these environmental elements relate to the five forces of competition?

QUESTION 2

Building core competencies is important to developing sustainable success for an organization.

Respond to the following:

•What criteria must organizational capabilities satisfy for them to become core competencies?

•How does building core competencies add value to an organization?

•Why is it important to build flexibility into the organization’s core competencies?

Develop one example to illustrate your response to all three answers. That is, for one selected core competency, explain the difference between capability and competency, value to the organization, and importance of flexibility.

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