Task 9

In your own words and using  referenced  quotes describe what is meant  in strategy by the resource  based view. 
     A  management  device  used to assess  the available amount of a business  strategic assets. in other words, the resource  based  view  is based  on the idea that the  effective and efficient application of all useful resources  that the  company  can muster helps determine its competitive advantage.

How might  you undertake  the 'Internal Strategic Analysis?  What  models would you apply and why?  where would you go to find the information you need?

 Internal Strategic Analysis refers to the analysis of internal factors, analyzing an organisation's internal environment so as to determine one's weak and strong points and the ways to improve them. It is one of the important factors for any organisation.  In  other words it is a review of an organizations strength and weaknesses that focuses o n those factors  with its domain. There are several models which can be used to undertake internal strategic analysis such as:

• Resource based view
• Value chain analysis
• SWOT analysis
• TOWS analysis
• McKinsey 7 S model 

The  model  that I would apply to undertake 'Internal  Strategic Analysis'   is SWOT Analysis. SWOT stands for Strength, Weakness, Opportunities and  Threats. It  basically means a situation analysis in which internal strength and weaknesses of an organization,  and external opportunities and threats faced by it are closely examined to chart a strategy.  SWOT analysis  is the most famous  and easy internal analysis. 

It is  a straight forward model that assesses what an organization can and cannot do as well as  its potential opportunities and threats. SWOT Analysis  determines what may assist the firm in accomplishing its objectives and what obstacles must be overcome or minimized  to achieve the desired results. 

Talk about your group  video work. How  is it going so far? Do you have a plan? What are you most worried about at the moment?  What is going well?

The group  video work is going  on pretty smoothly, we are having fun working in a group. The research work is almost complete, and  we are planning on how to portray or research  work in  the video. Likewise how to display our self in the video. We have a very good team and we are working equally hard to come  up with the best result we can. I am worried about our presentation skills will  our team be able to live up to the expectation of our lecturer.  

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