question archive How Well Is the Company's Strategy Working? What Are the Company's Competitively Important Resources and Capabilities ? Strategy can be defined as the back bone for every organization to reach company goals

How Well Is the Company's Strategy Working? What Are the Company's Competitively Important Resources and Capabilities ? Strategy can be defined as the back bone for every organization to reach company goals

Subject:BusinessPrice: Bought3

How Well Is the Company's Strategy Working? What Are the Company's Competitively Important Resources and Capabilities ? Strategy can be defined as the back bone for every organization to reach company goals . It involves the initiatives taken by an organization's top managers on behalf of owners . The decisions are taken based on the consideration of resources and evaluation of the internal and external environments The most important factors that have to be considered here is how well the strategy fit for the company's situation. The two important elements of company's situation are External Environments and Internal Environments . Industry and competitors are the external situation and company's resources are internal environment. Examples for external environments are Suppliers , Rival Firms , New Entrants , Buyers Substitute products , economic conditions , Technological factors , Political Factors , Legal a Regulatory factors etc . These factors are mainly considered when management pursue decisions for long term . All the forward strategies , objectives and business models are pursued based on the external factors . It is also important to conduct PESTEL analysis to assess relevance and importance of six components that have significant impact on every y businesses . The six components are Political economic , social , and technological , environment and legal force . These factors determine the extent to which the economy or certain industry affected for example a new tax may change the entire revenue generating structure of the organization . In the same way a rise in the inflation rate of any economy, would create an impact on company's product price. The result would be the purchasing power of the consumers may change and creates more risks to the business . So all the

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE