Define Strategic Capability
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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This assignment will explain what strategic capability is and why it is important for any organization. Strategic capability is the ability of an organization to achieve its goals and objectives by utilizing its resources and competencies in a dynamic and competitive environment. Strategic capability is important for organizations because it enables them to create and sustain competitive advantage, respond to opportunities and threats, innovate and adapt to changing customer needs and preferences, and enhance their performance and profitability.
For example, Apple has a high strategic capability because it has valuable resources such as its brand, loyal customers, talented employees, and innovative products. It also has distinctive competencies such as its design, quality, and user experience. It uses efficient processes such as its supply chain, distribution, and marketing. And it has a strong culture of creativity, excellence, and customer satisfaction.
Strategic capability consists of four elements: resources, competencies, processes, and culture.
Resources are the tangible and intangible assets that an organization owns or controls, such as financial, human, physical, technological, and reputational resources. Competencies are the skills, knowledge, capabilities, and expertise that an organization possesses or develops, such as core competencies, distinctive competencies, and dynamic capabilities. Processes are the activities, routines, systems, and procedures that an organization uses to transform inputs into outputs, such as operational processes, strategic processes, and innovation processes. Culture is the shared values, beliefs, norms, and assumptions that shape the behavior and attitudes of the members of an organization, such as organizational culture, subcultures, and national culture.
HARVARD
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CHICAGO
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Define Strategic Capability A Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the meaning of strategic capability
- Understand the significance of strategic capability
- Apply the concept to real-life organizations
1.0 INTRODUCTION
Strategic capability is the ability of an organization to create and sustain a competitive advantage in its chosen market or industry. It involves the effective deployment of resources, competencies, and capabilities to achieve desired outcomes and goals.
Strategic capability can be assessed by using various frameworks and tools, such as the VRIO model, the value chain analysis, the core competence analysis, and the SWOT analysis. These methods help to identify the strengths and weaknesses of an organization, as well as the opportunities and threats in its external environment. By understanding its strategic capability, an organization can leverage its strengths, overcome its weaknesses, exploit its opportunities, and mitigate its threats.
Strategic capability is important to organizations because it enables them to achieve superior performance and gain a competitive edge over their rivals. It also helps them to adapt to changing customer needs, market conditions, and technological innovations.
Moreover, strategic capability can foster innovation, creativity, and learning within an organization, leading to continuous improvement and growth. For example, Apple has a high strategic capability because it has valuable resources such as its brand, loyal customers, talented employees, and innovative products. It also has distinctive competencies such as its design, quality, and user experience. It uses efficient processes such as its supply chain, distribution, and marketing. And it has a strong culture of creativity, excellence, and customer satisfaction.
Strategic capability is a key concept in strategic management that refers to the ability of an organization to create and sustain a competitive advantage. It can be evaluated by using various analytical tools and frameworks that reveal the internal and external factors that affect an organization's performance. Strategic capability is vital for organizations because it determines their success and survival in a dynamic and competitive business environment.
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