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Assignment Strategic Management Process

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Running head: STRATEGIC MANAGEMENT PROCESS Strategic Management Process Name Institution STRATEGIC MANAGEMENT PROCESS 2 Strategic Management Process 1. Describe the competitive landscape and explain how globalization and technological changes shape it. The competitive landscape is connoted as the analysis of business which entails the identification of indirect or direct competitors while at the same it provides room for the understanding of the vision, mission, marketing position, and the strengths as well as the weaknesses (Lynch, 2014). Due to the actuality that the business world is volatile, the analysis considerably aids in the establishment of a new mindset that enhances the development of strategically based competitiveness. Globalization is regarded as an outcome of the many firms engaging in competition within the global economy. Within the globalized industries and market, it is observed that there is a potentiality of capital movement from a given capital market to another (Lynch, 2014). As a result, globalization provides the opportunity for organizations to compete favorably in the competitive landscape (Lynch, 2014). Technology helps in shaping the competitive landscape since it acts as an instrument of acquiring competitive benefits. 2. Use the resource-based model to explain how firms can earn above-average returns. The resource-based prototype provides that each company is considered as a collection of distinct capabilities and resources (Kłosowski, ...
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