Five P's Strategy
The strategic position is concerned with the impact of strategy of the external environment, internal resources and competencies, and the expectation and influences of shareholders. It is from this point that an organisation can assess its strategic choices and formulate its proposed actions. There are a number of models that can assist in this analysis. The starting point is the SWOT analysis. Analysis of strengths and weaknesses concentrates on the internal factors that influence the organisation's performance and opportunities and threats looks at the external factors that are influencing a business.
The external analysis can be expanded further to formulate a PEST(LE) (Political, economic, societal, technological, legal and environmental) analysis. The external analysis should included competitive, supply and market changes. Planning tools assist in these analysis. SWOT analysis can be undertaken at the corporate level as well as at the strategic business unit (SBU) level. A similar presentation is used for a PEST analysis. There are models available such as Porter's V forces model which enable the market analysis to be undertaken for inclusion within the PEST(LE).
Every organisation is a collection of activities that are intended to design, produce, market deliver and support its product. Porter describes a generic model of the value chain which can be used in defining the organisation's own value chain. The different stages in the process of bringing a product to the customer can be identified and aids the analysis of costs and resources that are being used. An industry is the sum of the individual value chains that comprise that industry. An organisation can place itself and its competitors within that value chain, which may suggest opportunities to integrate vertically, either forwards or backwards, or points where a rival organisation's activities can be attacked.
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