Strategic Management: A Competitive Advantage Approach, Concepts and Cases, 16/e
by Fred R. David, Forest R. David
Chapter Summary
Management, marketing, finance/accounting, production/operations, R&D, and MIS represent the core operations of most businesses and the source of competitive advantages. A strategic-management audit of a firm’s internal operations is vital to organizational health. Many companies still prefer to be judged solely on their bottom-line performance. However, it is essential that strategists identify and evaluate internal strengths and weaknesses to effectively formulate and choose among alternative strategies. The Internal Factor Evaluation Matrix, coupled with the Competitive Profile Matrix, the External Factor Evaluation Matrix, and clear statements of vision and mission provide the basic information needed to successfully formulate ...
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