week 4 of the lecture! :)

Today's lesson is about Evaluating a Company's Resources, Capabilities, and Competitiveness. In this chapter we discuss about techniques for evaluating a company's internal situation, including its collection of resources and capabilities and the activities it perform along the value chain. This is the summary.

So, what is the best indicator to see how well the company's strategy is working? The some of the answers are :

1) whether the company is acquiring new customers at an attractive rate as well as retaining existing customers.

2) whether the firm's image and reputation with its customer is growing stronger or weaker

3) whether the company's overall financial strength and credit rating are improving or declining.

Move to the other part that Dr Ummi highlight, the meaning of resources is a productive input or competitive asset that is owned or control by the firm. this can be tangible and intangible assets in the company. Plus, competitive advantage is also important. Competitive Advantage means the uniqueness of the product that your company alone had.

Moreover, by using SWOT analysis, it can help to determine whether the company able to seize market opportunities and nullify external threats. SWOT analysis is a powerful tool for sizing up a firms :

1) Internal strength

2) Internal weaknesses

3) Market opportunities

4) External threats

The concept is just same like Muslims doing 'muhasabah' on her/his self. Even, Dr Ummi also doing that 'muhasabah' in the lecture. I also take part on that activity. So, here is my strength and weaknesses.

This is Wahibah

Try to change muhasabah for oneself for the company. SWOT analysis will match its strategy to its internal strengths and to market opportunities. Plus, SWOT analysis will correct important weaknesses and defend it against external threats.

There is one other thing that is primary in this chapter that is VALUE CHAIN. The value chain identifies the primary internal activities that create and deliver customer value and the requisite related support activities.

Thank you for reading. :)