Competency Definition Core competencies are those capabilities that are critical to a business achieving competitive advantage. The main ideas about core competencies where developed by Prahalad and Hamel (1990) in which they advised that over time companies may develop key areas of expertise which are distinctive to that company and critical to the company’s long term goals. These areas of expertise may be in any area but are most likely to develop in the critical‚ central areas of the company
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INB 666: Global Business Strategy and Operations Dr. Robert G. Vambery Phone: 212-618-6572 Room W441 Email: rvambery@pace.edu COURSE DESCRIPTION: This course on Global Business Strategy introduces‚ explores and applies the major concepts‚ tools‚ and techniques of global strategy formulation and implementation. The subject focuses on developing strategies for and on managing the operations of companies whose activities cross national boundaries. REQUIRED TEXT: Bartlett‚ C.A. and Beamish‚ P.‚ 7th
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1. (TCO A) The relationship between speed of innovation and product obsolescence is (Points : 5) direct (as innovation speed increases‚ products become obsolete more quickly). inverse (as innovation speed increases‚ products become obsolete more slowly). indirect (there is an effect‚ but it cannot be directly determined). nonexistent (there is no relationship at all). Question 2.2. (TCO A) Which of the following products would be considered novel? (Points : 5)
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(1994)‚ “Theory of the business”‚ Harvard Business Review‚ September/October‚ pp Fahey‚ L. and Randall‚ R.M. (1997)‚ Learning from the Future: Competitive Foresight Scenarios‚ Wiley‚ New York‚ NY. Hamel‚ G. and Prahalad‚ C.K. (1989)‚ “Strategic intent”‚ Harvard Business Review‚ May/June‚ pp Hamel‚ G. and Prahalad‚ C.K. (1994)‚ Competing for the Future‚ Harvard Business School Press‚ Boston‚ MA. Hammer‚ M. and Champy‚ J. (1993)‚ Reengineering the Corporation: A Manifesto for Business Revolution‚ 1st ed
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Answer: Strategic audits are examinations and evaluations of strategic management processes including measuring corporate performance against the corporate strategy. Whenever a deficiency is noted or performance of an organization is sub-par‚ the organization may elect to perform a strategic audit. This may be done with in-house auditors‚ or an audit firm may be contracted to perform the audit. The auditors will audit performance of the organization against the current corporate strategy and
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Topic 1: Critically examine a period of strategic change for an organisation of your own choice. Outline the triggers for change and the approach to strategic change in your case. Discuss the extent to which this strategic change built on or transformed the existing core competencies of the organization. Explain the most significant organizational issues facing the managers implementing this strategic change and how effectively they were managed. A STRATEGIC ANALYSIS OF APPLE CORPORATION
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addressed. Strengths and Core Competencies of Zara With an increase of competition‚ companies started the assessment of core products‚ technologies and markets‚ which were close to their future and current capabilities of growth. Prahalad and Hamel (2003) stated that key strategic focus of firms was on the identification and exploitation of core competencies. Zara has been successful to bring people from different functions for information sharing about the markets and develop more innovative
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RBV vs. Positioning School * RBV may be seen as a response to the positioning school approach Similarities * Both see super normal returns as objective * Both seek sources of competitive advantage * Managers are rational * Both models are prescriptive in nature * There we recognize that much of the underlying concepts have great resemblance. For instance‚ non-substitutability of a resource in RBV is similar to the threat of substitution in five forces and inimitability
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Strategic Management is the art and science of formulation‚ implement and evaluation cross-functional decisions that enable an organization to achieve its objective. Strategic Management has changed to meet the challenges of each decade of business development and has been significantly impacted by globalization. Organizations using strategic management are more successful than organizations that do not employ this central process. Strategic Management is often referred to
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Study Question: Contrast the best-fit with the resourced based approach to human resource strategy. Sabrina Kuschminder Essay Globalisation and the rapid growth in technology and communication changed the competitive environment of companies‚ because they compete against foreign firms‚ both domestically and abroad (Gómez-Mejía et al. 2007 and Wright‚ P. 2008) and nowadays the global presence by itself is not enough to guarantee global competitive advantages (Gupta and Govindarajan 2001)
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