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Determining the Scope of the Corporation
Learn how to conduct internal and external analyses to gain a competitive advantagePreview the first lesson free — get full access to all 5 lessons.
Advanced Provider : Joseph Rice 5 Lessons · 13m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
In this course on Determining the Scope of the Corporation, we talk about how to do an internal analysis using Value, Rarity, Imitability, and Organization, or VRIO. This will be paired with another model based on the Political, Economic, Social, Technological, Legal, and Economic, or PESTLE, tool. We’ll also discuss choosing the correct competitive model for the business strategy.
VRIO will help you evaluate your company’s resources, and PESTLE will help you understand external factors. From there, you can consider different forms of integration and expansion for your business. This course also talks about how to make sure your business has a competitive advantage. This is how you will make your company outperform other companies in the same industry. Having the right tools and models for measuring and understanding the business and business environment makes strategic planning effective. This course will focus on analysis tools and how to use them to create competitive advantages.
What You'll Learn
- Conduct an internal analysis using the VRIO model (Value, Rarity, Imitability, Organization) to evaluate company resources
- Perform an external analysis using the PESTLE model (Political, Economic, Social, Technological, Legal, Economic) to understand external factors
- Apply SWOT as a strategic analysis tool
- Choose an appropriate competitive model for a business strategy
- Identify forms of integration and expansion for a business
- Understand corporate measurement standards to support effective strategic planning
Key Takeaways
- VRIO evaluates a company's resources through Value, Rarity, Imitability, and Organization to support internal analysis.
- PESTLE examines Political, Economic, Social, Technological, Legal, and Economic factors to understand the external business environment.
- Pairing internal and external analysis helps a business consider different forms of integration and expansion.
- Having the right tools and models for measuring and understanding the business and its environment makes strategic planning effective.
- Building a competitive advantage is how a company outperforms other companies in the same industry.
Frequently Asked Questions
What models does this course cover?
It covers VRIO for internal analysis, PESTLE for external analysis, and SWOT, along with choosing an appropriate competitive model and understanding corporate measurement standards.
What is the difference between VRIO and PESTLE in this course?
VRIO helps you evaluate your company's resources internally, while PESTLE helps you understand external factors in the business environment.
What will I be able to do after completing this course?
You will be able to conduct internal and external analyses, choose the correct competitive model for a business strategy, consider forms of integration and expansion, and work toward giving your business a competitive advantage.
How is the course structured?
The course includes lessons on an Introduction, Using VRIO to Conduct an Internal Analysis, Using PESTLE to Conduct an External Analysis, Choosing an Appropriate Competitive Model, and a Test Your Knowledge section.
