busn 470 week 6 response 1

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

the SWOT.

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

strategy.

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.

References:

Harrisson, K. (2018, September 18). What Is a Value Chain Analysis. Retrieved December 6, 2018, from http://businessnewsdaily.com