Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 8, Problem 6CRQ
What are firm resources and capabilities, and what information does VRIO provide about them?
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About this Assignment
As organizations grow, particularly in the global space, change is inevitable. As businesses take on a more global facing model,
management must be ready to facilitate the changes that ensue. This means creating plans for introducing and managing change.
Lewin's 3-Stage Model of Change and Kotter's 8-Step Change Model are widely used to help overcome barriers to change in
organizations.
Drawing on what you've learned in this course, please choose one of the following prompts and write a 2,000 word (minimum)
report to address it.
Prompt 1
You are in upper management for a mid-sized manufacturing company. Recent economic changes forced upper management to
move much of the manufacturing to a foreign country. As a result, many of the state-side employees will be forced to work directly
with foreign counterparts. There is great concern that the existing employees may not embrace the change, and you've been tasked
with creating a plan to minimize the fallout.
Develop a…
Chapter 8 Solutions
Principles of Management
Ch. 8.1 - Why do managers use strategic analysis?Ch. 8.1 - How are internal factors different from external...Ch. 8.2 - Explain the elements of a SWOT analysis.Ch. 8.2 - What information does a SWOT analysis provide...Ch. 8.3 - Describe a firms macro environment.Ch. 8.3 - What does PESTEL stand for? How do managers use...Ch. 8.3 - How would you approach this issue if you were the...Ch. 8.3 - What PESTEL challenges is LEGO trying to address...Ch. 8.3 - Explain what favorable PESTEL factors support...Ch. 8.4 - Describe each of Porters Five Forces. What...
Ch. 8.5 - What are firm resources and capabilities?Ch. 8.5 - Describe a value chain and what the activities in...Ch. 8.5 - What is VRIO? What questions do the letters stand...Ch. 8.5 - What resource or capability challenges have Uber...Ch. 8.5 - What PESTEL factors do you think are contributing...Ch. 8.5 - What industry challenges (think of Porters Five...Ch. 8.6 - What is competition, and what is the role of...Ch. 8.6 - When does a firm have a competitive advantage over...Ch. 8.6 - Explain the differences between the three...Ch. 8.7 - How does strategic analysis help a firm develop...Ch. 8 - Why do managers use strategic analysis?Ch. 8 - What information does a SWOT analysis provide...Ch. 8 - Describe a firms macro environment and how...Ch. 8 - What is a firms micro environment, and why is it...Ch. 8 - What is an industry, and how do Porters Five...Ch. 8 - What are firm resources and capabilities, and what...Ch. 8 - When does a firm have a competitive advantage over...Ch. 8 - What are generic competitive strategies, and how...Ch. 8 - What do strategic group members have in common...Ch. 8 - How does strategic analysis help a firm develop...Ch. 8 - What PESTEL factors supported Teslas success?...Ch. 8 - How has Teslas strategic position changed since it...Ch. 8 - What kind of responses would you expect from...
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