This is a reflection and writing exercise
1. This is a big picture question. This is a reflection and writing exercise. Now that you are at the end (or close to it) of this course, I want you to bring it all together. This question requires you to integrate material across topics 1-5 for the purpose of having a well-rounded strategy formulation discussion. In class we mentioned that the ultimate goal of a firm is to outperform rivals and achieve a competitive advantage. This is done by creating a difference between the firm and its rivals, and preserving that difference. Simply put, how does a firm do this? To help you frame your answer this question, your response must discuss the following concepts, issues, and frameworks:
· Operational effectiveness
· Strategic positioning
· Fit among activities
· External environmental assessment (feel free to mention any of the specifics within this topic, if it helps with your response)
· Internal environmental assessment and the VRIO framework. Feel free to mention any of the specifics within the internal environmental assessment topic as they relate to the business diagnostic tools, if it helps with your response.
· Business-level strategy
· Corporate-level strategy
· Financial performance
I am looking for an integrated and comprehensive discussion. I am looking for you to explain/discuss the relationships between all of these concepts in allowing a firm to achieve the sustainable competitive advantage. Answering this question in about 1.5 – 2 pages is reasonable. Your narrative should be a mini-crash course on doing strategy well. I need to make sure you understand how all of these topics connect. Do not list the aforementioned concepts in bulleted format and give me a definition of each. I do not want a disjointed/disconnected answer. This will be your longest answer out of all the questions in this exam.