The Resource Based View (RBV) approach to strategic management argues that the m

Question

The Resource Based View (RBV) approach to strategic management argues that the most important factors that determine an organization's success reside internally, Le., that an organization's performance is determined mostly by nternal factors within the control of the organization and its leaders and employees Select one: True O False Porter's five forces are: 1) bargaining power of suppliers, 2) bargaining power of consumers, 3) potential development of substitute products, 4) potential entry of new competitors, and 5) the level of bickering, politics, and rivairy within the firm. Select one False Time, energy, money, and skill are always limited, and it is impossibie for any individual, or group of employees, to collect ALL of the data that might be relevant to developing the strategy of an organization. Some strategy developing efforts are vast and lengthy, some or limited and brief (such as the one should keep the purpose of an external organization, so that this purpose can be used to sft signals from noise out of the information gathered you can do in this course). However every strategic study assessment in mind, namely, to identity the opportunities and threats facing the Select one: True False

Explanation / Answer

Answer 1

True

Resource based view is management model under which the potential of internal resources of firms is analysed that contribute towards firms growth or success

There are 2 approaches to strategic management namely industrial organization model and resources based view. Both the model caters towards the success of organisation the industrial organization model looks into the external factors in industry that are responsible for the profitablity of industry and resources based view is also known as insidr-out view which includes the internal resources analysis that contribute to success of firm

So the argument is correct

Answer 2.

True

Porter's five forces model is the most effective tool used for analysing the competition in business firms. It explains the ability of different industries to achieve and sustain the different level of profitablity.

The forces mentioned are correct as the model is made up these forces namely

Threat of new entrance

Threat of substitutes

Bargaining power of customers

Bargaining power of suppliers

Industry rivalry

Answer 3

True

The resources are not always available in abundance to the firm and it becomes difficult for the employees to manage the resources so the stratergies should be effectively formed

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