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The Resource-based View (RBV) is a strategic framework that suggests a firm's competitive advantage is derived from its unique resources and capabilities that are valuable, rare, inimitable, and non-substitutable (VRIN). It emphasizes the internal strengths of a company as the primary driver for achieving and sustaining superior performance in the marketplace.
Core competencies are the unique capabilities and resources that give a company a competitive advantage and are difficult for competitors to imitate. They are fundamental to a company's strategy and success, enabling it to deliver unique value to customers and sustain its market position.
Value Chain Analysis is a strategic tool used to identify a company's primary and support activities that add value to its final product, allowing it to gain a competitive advantage. By analyzing these activities, organizations can optimize operations, reduce costs, and enhance differentiation to improve overall performance and profitability.
SWOT analysis is a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a business or project. It helps organizations understand internal and external factors that can impact their objectives, facilitating informed decision-making and strategic planning.
Organizational culture encompasses the shared values, beliefs, and norms that influence the behavior and practices of members within an organization. It plays a crucial role in shaping the work environment, guiding decision-making, and impacting overall organizational effectiveness and employee satisfaction.
Strategic capability refers to a company's ability to leverage its resources and competencies to achieve competitive advantage and long-term success in the market. It involves not only the possession of valuable resources but also the effective integration and deployment of these resources to adapt to changing environments and meet strategic objectives.
Competitive advantage is the attribute that allows an organization to outperform its competitors, achieved through unique resources, capabilities, or positioning. It is essential for long-term success and can be sustained through continuous innovation, strategic planning, and leveraging core competencies.
Internal audit is a systematic, independent, and objective evaluation of an organization's operations, designed to improve the effectiveness of risk management, control, and governance processes. It provides assurance to stakeholders that the organization's processes are functioning as intended and helps identify areas for improvement.
Benchmarking is a strategic process where organizations evaluate their performance by comparing it to industry standards or best practices. This helps identify areas for improvement, drives competitive advantage, and fosters continuous improvement by learning from others' successes and failures.
Financial analysis involves evaluating businesses, projects, budgets, and financial statements to determine their performance and suitability for investment. It is essential for making informed decisions, identifying financial strengths and weaknesses, and forecasting future financial conditions.
Situational analysis is a strategic tool used to assess the internal and external environment of an organization to identify opportunities and threats, strengths and weaknesses. It forms the foundation for strategic planning by providing a comprehensive understanding of the factors affecting an organization's performance and the context in which it operates.
Driving forces are the underlying factors or pressures that initiate and shape changes within a system or process, often influencing the direction and pace of development. They can be internal or external and are crucial for understanding the dynamics of change in contexts such as business, environmental science, and social systems.
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