1. What resources and capabilities did Martha Stewart living Omnimdeia appear to have prior to the trial and conviction? Have these resources and capabilities changed? Explain. * Martha Stewart living Omnimedia had powerful and trustworthy resources and the capabilities included: very extensive and specific merchandise lines that were advertised and sold in big distributors like Kmart and Sherwin Williams. This company had positioned its resources and capabilities well to exploit sociocultural and demographic trends. Now these capabilities have changed because these products were involved solely around Martha Stewart’s image. With her personal image being “stained” the company has a hard decision to make and they have already started to produce new products that do not include her name anymore. 2. Do you think an organization can ever regain its competitive advantage from weakened or lost resources or distinctive capabilities? Why or Why not? Do you think that Martha Stewart living Omnimedia will be able to do so and why not? Be prepared to debate one side or the other in class. * I don’t think this company can ever regain its competitive edge although I do not see them going out of business either. I just think that it is not going to e as successful anymore because the main image and the main reason why everybody loved this company and their products was Martha Stewart. I believe the public feels betrayed and although her products are well loved and they are still selling, eventually they will phase out. 3. Would a company that has a reputation for having the “best” product in its industry ever have a need for competitive intelligence information? Why or why not? * I don’t think a company that has the best product in its industry ever need competitive intelligence information. By performing regular internal audits, the company should have a realistic idea of where do they stand in the market and how the strategies should develop to reach the goals assigned to the company. 4. How could Martha Stewart living Omnimedia’s strategic decisions makers use value chain analysis in assessing the company’s strengths and weaknesses? How about an internal audit? How about a capabilities assessment profile? * The value chain analysis would give the decision makers a very realistic idea on how are the changes. An internal audit would show them what internal functionalities are still strong and what need to be changed. A capabilities assessment will show them what capabilities still make them distinctive and will help the company continue to grow. What Did I learn This Week
* What is an Internal Analysis” – the process of identifying and evaluating an organization’s specific characteristics, including its resources, capabilities, and core competencies. The internal environment of a business is that part over which you as a manager have control. You can influence the things that go on in the business. This presentation will give a number of tools that will help you think about the business. Strengths and Weaknesses - Goal: objective assessment of your strengths and weaknesses: * relative to competitors
* important to customers
Strengths and weaknesses are the internal side of a SWOT analysis. SWOT is a tool for auditing an organization and its environment. It is the first stage of planning and helps managers focus on key issues. Once key issues have been identified, they feed into objectives. It can be used in conjunction with other tools for audit and analysis, such Porter's Five-Forces analysis. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. For example, strength could be your specialist expertise. A weakness could be the lack of good genetics. Opportunities and threats are external factors. For example, an opportunity could be a developing market such as the Internet. A threat could be a...