MT1 Internal context of strategy and the firm’s resources and capabilities
Previously, I was already aware of the SWOT analysis and the value it brings to identifying strengths, weaknesses, opportunities, and threats. After reading Carpenter and Sanders (2008) and doing additional research, I feel more exposed to the real purpose of the SWOT analysis and how it helps management. Through the additional research I did, I also found a tie from the SWOT analysis and strategic planning (Hill & Westbrook, 1997, p.47). Additionally, something else I found interesting was that Houben, Lenie, and Vanhoof (1999) shared that SWOT analysis is used throughout the business world. Personally, I have not yet used SWOT analysis at work, but I am confident that as time progresses, this might be something that I will need to work on with other managers.
Two other important discussion items that were new to me were the 5-cubed model and the VRINE model. I found both of these very useful and informative. It was interesting to learn that the 5-cubed model builds off of the SWOT analysis (Murray, n.d., p.48). Even though I was already of the SWOT analysis, I had never before heard or read about the 5-cubed model. Lastly, as I mentioned, the VRINE model was something new I learned this week. One of the major takeaways I took from the VRINE model is that it helps with competition (Carpenter & Sanders, 2008, p. 73).
MT2 Value chain
Learning about the value chain was interesting and very insightful. Learning about the two types of value chain activities was something utterly new to me. Learning that support is human resources, accounting and finance, and technology and procurement while primary is related to logistics, operations, and market sales (Carpenter & Sanders, 2008, p. 82). The value chain is critical to understand as it deals with many parts of a firm’s business. As I applied the value chain to the company where I currently work, more and more information started to make sense. Overall, I feel like I gained plenty of knowledge from Carpenter and Sanders (2008) as well as the additional research I conducted to further understand value chain.
MT3 Managers role
Out of all the readings assigned for the week, learning about manager’s role was one of my favorite. Learning the different responsibilities middle managers have versus senior managers was also very interesting. I also liked learning about strategic success middle managers bring onboard. Middle managers are important to the business as they see the frontlines first hand and also know strategic planning. Middle managers add value to the firm and ultimately relay this to senior managers that make the ultimate decisions. Rouleau and Balogun (2011) mentioned that middle managers are essential in the formulation and implementation of strategic changes (p. 953). Since middle managers know what is going on in the frontline, there will be a better chance for the strategy to survive and thrive. Whereas, senior management is less involved with operations and plan according to strategy since they might not be aware of what all is going on in the operations world. I speak this from experience as I see it at the company where I work. Senior managers are blindly making decisions that might not work as they are not consulting with middle managers until their strategies are almost finalized.
Carpenter, M. A., & Sanders, W. M. (2008). Strategic management: A dynamic perspective—Integrated StratSim simulation experience. Upper Saddle River, NJ: Pearson Prentice Hall
Hill, T., & Westbrook, R. (1997). SWOT analysis: it’s time for a product recall. Long range planning, 30(1), 46-52.
Houben, G., Lenie, K., & Vanhoof, K. (1999). A knowledge-based SWOT-analysis system as an instrument for strategic planning in small and medium-sized enterprises. Decision support systems, 26(2), 125-135.
Murray, A. I. (n.d.). Strategic choice under knowledge competition. Retrieved from http://csumb.elearningctr.com/pluginfile.php/30629…
Rouleau, L., & Balogun, J. (2011). Middle managers, strategic sensemaking, and discursive competence. Journal of Management Studies, 48(5), 953-983.