Question:
Please submit here your reflection that will be graded and will be part of your overall grade. It should be a word document, not a pdf file. As a general guide, one reflection should be between 800-1500 words. Please do put your name, MISIS number and word count on the front page of your submission. In this reflection, please discuss the two topics that we covered in this module.
Your reflection may have descriptive (15% – 20%) and rest as self-questioning and answering. You should consider providing 2 to 3 examples. Express what you liked or disliked. You may choose to express doubts and explain why you have those doubts. If you support a concept, please explain why you feel that. Mention if you know something more over and above what was discussed about a concept.
Solution:
From a general perspective, in a business strategy, the core function is being able to match organisation resources and capabilities with the opportunities arising in their external business environment. According to a study by Grant (2016), the rationale of focusing on the resources, capabilities and management systems is informed by the increased instability of the external business environment with the competitive advantage as opposed to being attractive in an industry being attractive as the primary source of increased profitability. Initially, I only possessed information and knowledge on the use of profit opportunities in the external business environment. Nevertheless, from this module, I have appreciated how I can capitalize on strategy and the internal environment of the firm with a specific focus on the resources and capabilities of the firm. For instance, in my organisation practice, I appreciate all stakeholders as a critical resource to the success of our organisation as opposed to the past where I was only interested in financial resources. This reflection focuses on areas of resources and capabilities, organisation structure and management system, nature and sources of competitive advantage, industry evolution and strategic change, technology-based industries and competitive advantage in mature industries. At one point in my practice I used to ask myself, “are there different resources and capabilities of an organisation and how are they applicable in strategy formulation?” My lack of understanding on this area could have been attributed to lack of an understanding that there are both external and internal environment resources. I now appreciate that a company cannot…………………..Please contact us to receive guidance on this reflection assessment in full
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