Here is the synopsis of our sample research paper on Core Competencies And Strategic Planning. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 14 page paper begins with an outline of some of the approaches used for strategy planning. Next, the writer explains the larger category of resource-based approaches to strategy development, then narrows the discussion to core competencies – who introduced the concept, what they are, how they are developed, and how they are used in the competitive environment. Examples of companies who have used their core competencies to gain a stronghold in the market are offered. a 10-step outline for developing strategy based on core competencies is also provided. Advantages and disadvantages of using this approach are explained. The final discussion involves honing skills for this approach, going from core competencies to core products and some of the problems or challenges surrounding the core competencies approach to strategy planning. Bibliography lists 12 sources.
Page Count:
14 pages (~225 words per page)
File: MM12_PGcorecp.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
to make that vision a reality (Robinson, 2002). * Environment-based approach to strategy development, which is based on analyzing outside forces that can have an impact on the companys success
(Robinson, 2002). This approach usually includes an analysis using Porters five forces of 1.) Threat of New Entrants; 2.) Bargaining Power of Suppliers; 3.) Bargaining Power of Customers; 4.) Threat
of Substitutes; and 5.) Rivalry among Existing Firms (Porter, 1980). * Resource-based approach where the company analyses its resources and base strategy development on the effective use of resources (Robinson,
2002). * Capability-based approach, which involves determining the companys capabilities, enhancing these and basing their strategy development on their capabilities (Robinson, 2002). The SWOT (strengths, weaknesses, opportunities and threats) analysis
is beneficial for this approach. * Core-competencies approach, which is very similar to the capabilities approach in that the company determines its core competencies, enhances them and then uses this
as the basis of strategy development (Schultz). In point of fact, capabilities approaches are so similar to core competencies that the terms are often used synonymously. Furthermore, capabilities and core
competencies both fall under the umbrella of the resource-based approach. The relationship is intertwined and needs to be discussed together. Resource-Based Approach Robinson explained that the "resource-based approach to
strategy development is based upon the assumption that its the effective use of the organizations resources that should drive its strategy development" (2002). Organizations and companies that use this approach
look primarily at the assets within the company itself and how they can best use these assets to gain a competitive advantage (Robinson). The underlying premise of the resource-based approach
is that if the company uses its resources effectively, they will achieve success (Robinson). The resource-based approach is very similar to the capability-based approach to strategic planning (Robinson). This
...