Chapter 6 - Resources and value creation within the organisational ecosystem Flashcards
What is the process of internal analysis?
Resources Audit
Competencies
Core competencies
Assessing Balance
Identify Key Issues
Understanding Strategic Capability
What is a resource audit?
Identifies resources available to an organisation and seeks to start the process of identifying competencies
What are the factors included in the M’s model?
Manpower
Money
Management
Machinery
Markets
Materials
Methods
Management Information
Make-up
What are the foure headings that resources can be grouped into?
Physical or Operational Resources
Human Resources
Financial Resources
Intangibles
What is a competence?
Group of abiltities, resources or skills that enable the organisation to act effectively
What are the two types of comepetence?
Core comepetences
Threshold competences
What are core competences?
Things that you can do that are difficult for competitors to emulate
What are threshold competences?
Things that you do well that enable you to compete in the market
When would core competencies become threshold?
Cultures adjust and expectations develop
Customers and consumers become more sophisticated in terms of their needs and expectations
Competitors imitate our core competencies
What does a competence audit involve?
Analysis of what competences the organisation has
Categorisation of competences as core or threshold
What are CSF?
Critical success factors
Limited number of areas in which results, if they are satisfactory, will ensure successful competitive performance for the business
What should an organisations CSFs tie into?
Corporate objectives
What are the four sources of CSFs according to Rockart?
- The industry that the business is in
- Company itself and its situation within the industry
- Wider environment
- Temporary organisational factors
What are value drivers?
Activities or features that enhance the perceived value of a product or service by customers and which therefor create value for the producer
What are the primary activities of Porters value chain?
Inbound logistics
Operations
Outbound logistics
Marketing and sales
Service
What are the support activies of Porter’s value chain?
Infrastructure
HR Management
Tech Development
Procurement
What is the value shop?
Alternative representation of a value chain for a professional services firm
Considered to be a workshop which mobilises resources to solve specific problems
What are the primary activies of the value shop?
Problem finding and acquisition
Problem solving
Choosing among solutions
Execution and control/evaluation
