EBK STRATEGIC MANAGEMENT: CONCEPTS
EBK STRATEGIC MANAGEMENT: CONCEPTS
4th Edition
ISBN: 8220106797259
Author: Rothaermel
Publisher: YUZU
bartleby

Concept explainers

Question
Book Icon
Chapter 4, Problem 1DQ
Summary Introduction

To explain: Why it is important to study the internal resources, activities, and capabilities of the firm and the insights that can be gained.

Expert Solution & Answer
Check Mark

Explanation of Solution

It is important to know the resources, capabilities, and the activities that are present in a firm. The firm can formulate a strategy only after it knows everything about its own in detail. The firm can utilize the current condition of the firm and look to update the strategy so that it addresses the external issues that are hindering the growth of the firm.

A firm cannot do this without actually knowing the features of the firm that are currently present. Hence, it is vital to learn the internal resources, activities, and capabilities of the firm as it provides the valuable insights for formulating the future strategy for the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Business 150 May I please have a response to the following post? Thank you!
Business Analytics for Gaming FirmPenn National Gaming, through its subsidiaries, owns and operates more than 25 horseracing and casino gaming facilities throughout the United States and in Canada. It is the operator of the popular Hollywood Casinos around the country plus the M Resort Spa Casino and Tropicana Las Vegas. In aggregate, its operations include some 33,000 gaming machines, 800 table games, 4,500 hotel rooms, and 10 million square feet of property. 26 Millions of patrons visit Penn National Gaming facilities each year. The firm is considering developing a large database to capture the data generated at each property. This will be augmented with data about each patron—their demographics, purchases, gambling preferences and habits, and the services they request as a guest. The data will be used by the firm’s management to make quick, well-informed decisions to maximize Penn National Gaming’s income while packing more entertainment value into each patron’s visit. The data will…
Why are employees and their managers skeptical of compliance programs?
Knowledge Booster
Background pattern image
Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Text book image
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning