1.2: Management Strategy Frameworks
Read this section, which discusses how to apply strategic management techniques within the P-O-L-C framework. This section emphasizes the inputs that impact the formulation of a strategy and provides a framework for performing a SWOT analysis. Developed in the early 1970s, the SWOT analysis technique is an essential tool in the strategic planning process.
Read this article, which explains the strategic planning process. Pay special attention to why and when organizations should engage in strategic planning.
Read this article, which describes how to analyze an external environment and create a SWOT analysis.
Read this article, which describes how to utilize an organization's valuable resources to create a long-term sustainable strategy.
Read this article and consider the following questions: What is the knowledge-based view (KBV) of business strategy formulation? What three intangible resources serve as the foundation for developing an organizational strategy using the KBV? What is the most critical component in developing a competitive advantage strategy using the KBV? Why?