Management - Business StrategySee uploaded zip file

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Management - Business StrategySee uploaded zip file


Answered Same DayMar 19, 2021

Answer To: Management - Business StrategySee uploaded zip file

Rudrani answered on Mar 23 2021
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Running Head: STRATEGIC PLANNING OF GSK
STRATEGIC PLANNING OF GSK 1
Strategic Planning of GSK
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2.1 VRIO Framework
The VRIO Framework is a tool for strategic analysis that has been designed in order to help the organizations to unc
over as well as protect the resources and the capabilities that can provide long-term competitive advantage to the organization. VRIO is an acronym for a four-question framework that exhibits the value, rarity, imitability and organization (Chatzoglou et al. 2018). Strategic capability is described as the strength of a company, which includes the people, resources, skills and capacities that is capable of providing the company a competitive advantage as well as to survive and increase its value over time. Ability to compare, thriving in the free market, identification of critical competencies and strategic value analysis are the key components of strategic capabilities.
Valuable: The first question of the VRIO framework enquires about the resources that add values to a specific organization that would help the firm in exploiting the different opportunities as well as defend the threats. In the view of (), the critical resources that are most valuable to the firm include the financial resources, human resources, operation management and the marketing expertise.
Rarity: The resources are considered as rare if they are acquired by one or by very few firms. The company needs to analyse whether the resources possessed by the organization are rate to them. In case the resources are not rare to GSK, then both the existing competitors as well as the new entrants can have easy access to the resources.
Imitability: Presently, most of the industries are increasingly at the threat of disruption. According to Imtiaz (2017) it seems that the core differentiation of the firm is quite difficult to be imitated. Imitating the products produced by the firm can happen in two ways duplication of the existing products and the emerging of new products as a substitute by the competitors.
Organization: This involves the competence as well as the capabilities of the firm in making most of the resources. It helps in measuring how much the company has the ability to harness the valuable, rare and difficult to imitate resources in the market place. The firm has valuable resources that are rare and cannot be imitated by the others very easily.
2.2 McKinsey 7s Model
The McKinsey 7s Model is a tool that has been developed in order to analyse the organizational design of a firm by looking at the seven most important elements that forms the internal environment of the company. These include structure, strategy, shared values, style, staff and skills. This is done to identify whether the internal elements are aligned effectively and allow the firm in achieving the objectives. These seven areas of the organization are further divided into ‘soft’ and ‘hard’ areas. The strategy, systems and structure are hard...
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