I need to respond to this in 300-400 words with references
Value chain is a wide range of activities which includes design, production, marketing and distribution. Companies
who are producing goods their value chain starts with raw materials and everything needed before the finish
product is sold to customers.The value chain is useful to strategy formulation because it helps the leaders of the
corporation to asses,decide,act and review their strategy implementation process.Strategy formulation is both a
process and a leadership skill that leaders use to guide their firms into the right direction. This is called positioning
the firm which will allow them to adapt to the consumers wants and needs.
SWOT matrix is designed for a business to identify their Strength, Weaknesses, Opportunity and Threats. This is a
more constructed design which allow businesses to look at the internal and external business environment. This
allows businesses to implement a strategic plan, but this is not the only tool that’s used businesses have
established alternative such as:
1. SCOPE: Situation, Core competencies, Obstacle, Prospects and Expectation. This procedure aims on taking
the SWOT matrix to an advanced level. The Scope analyze internal and external component;it attempts to align the
internal and external components. The Scope model can introduce more information and has flexibility more than
2.SOAR: Is a positive thinking analysis that identifies strengths, opportunities, aspirations and results.Soar is
developed forcreative problem solving which asks the user to perform five key tasks when facing a decision or
formulating a strategy. The five tasks include Initiate, Inquire,Imagine, Innovate and Implement. These key
factors were included because it helps the motivation and engagement when it comes to business planning
3. Defensive/ Offensive Evaluation: This aims into two segments the first is defending the existing product or
markets and their profits. The second is the offensive method of gaining new products and their markets and
acquiring additional profits.Top CEO and executives can distinguish between both the internal and external issues
associated with both themes. The defensive aim includes the business exposure to imitation and innovation by
theircompetitors. It also includes internal costs, quality assuranceand their supply chain.
4.CORE Assessment: Business use this strategy in a smaller range of circumstances than the SWOT matrix.This
assessment issued frequently by start-up businesses and entrepreneurs use this to plan and tract future growth.
CORE means capitalinvestment,ownership involvement,risk assessment and exit strategy. Core focuses on
how businesses will be funded, what’s the ownership structure, what’s the internal and external risks, will the
entrepreneur sell the company.
Harrisson, K. (2018, September 18). What Is a Value Chain Analysis. Retrieved December 6, 2018, from http://businessnewsdaily.com