The Internal Assessment

By FarHanac0bc22fe6c7a4970 | Updated: Oct. 17, 2019, 7:44 a.m.

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Chapter 4: The Internal Assessment
Key Internal Forces
Distinctive competencies (DC):
- A firm's strengths that cannot be easily matched or imitated by competitors.

Building competitive advantages involves taking advantages of distinctive competencies.

The Process of Performing an Internal Audit
The internal audit
- Requires gathering and assimilating information about the firm's management, marketing, finance/accounting, production/operations, research and development (R&D), and management information systems operations.
- More opportunity for participants to understand how their jobs, departments and divisions fit into the whole organization

The Resources-Based View (RBV)
The Resources-Based View 
(RBV) approach
- Internal resources are more important for a firm than external factors in achieving and sustaining competitive advantages.
- 
Grouped into three all encompassing categories: 1- Physical resources
Human resources
Organizational resources
Resource to be valuable must have either
1- Rare
2- Hard to imitate
3- Not easily substitutable
Management

# The functions of management consist of five basic activities: planning, organizing, motivating, staffing and controlling.
# This activities are important to assess in strategic planning because it can improve weaknesses
Marketing
The process of defining, anticipating, creating, and fulfilling customer;s needs and wants for products and services
Marketing
Customer analysis
The examination and evaluation of consumer needs, desires and wants
Product and Service planning
There are many activities includes test marketing, product and brand positioning, devising warranties, packaging, determining product options, features, style and quality, deleting old products and providing for customer services.
Pricing
Five major stakeholders affect pricing decisions: consumers, governments, suppliers, distributions and competitors
Distribution
Includes warehousing, distribution channels, distribution coverage, retail site location, sales territories, inventory levels and location, transportation carriers, wholesaling and retailing
Marketing Research
The systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services
Finance/Accounting functions
Investment decision

Financing decision

Dividend decision
The allocation and reallocation of capital and resources to project, products, assets and divisions of an organization
Determines the best capital structure for the firm and includes examining various methods by which the firm can raise capital
Concern issues such as the percentage of earnings paid to stockholders, the stability of dividends paid over time, and the repurchase or issuance of stock
Production/Operation

Management Information system

Value Chain Analysis (VCA)

Benchmarking
Consists of all those activities that transforms inputs into goods and services
To improve the performance of an enterprise by improving the quality of managerial decisions
A firm determines the costs associated with organizational activities
To determine whether a firm's value chain activities are competitive compared to rivals and thus conducive to winning in the marketplace
Thank You

The Internal Assessment

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