FOURTH WEEK – STRATEGIC MANAGEMENT

Bismillahirrahmanirrahim,

Assalamualakim,we meet again! This entry about the fourth week that I have learnt on Strategic Management Subject.For this week, we have learned the topic about on how to evaluate the company’s resources, capabilities and competitiveness. The main objective for this topic is how to assess how well a company’s strategy is working.

In evaluating how well a company’s present strategy is working, a manager has to start with what the strategy is.  This involves evaluating the strategy from a qualitative standpoint (completeness, internal consistency, rationale, and suitability to the situation) and also from a quantitative standpoint (the strategic and financial results the strategy is producing). The stronger a company’s current overall performance, the less likely the need for radical strategy changes. The weaker a company’s performance and/or the faster the changes in its external situation (which can be gleaned from industry and competitive analysis), the more its current strategy must be questioned.To trace or identify the things that could drive the firm success, we use the SWOT analysis. This kind of analysis is a powerful tool for sizing up a firm’s. SWOT analysis is stand for Internal strength (S), Internal weaknesses (W), Market opportunities (O) and external threats (T).