Today is the first day of class for our BeST program in the rabbit year, if we consider the starting of a year based on lunar calender. After a week of Chinese New Year celebration, all of us had to bid farewell to holiday and focused on the very last month of lecture classes under the BeST program.
Organizational Capabilities and Competitive Analysis. This is the topic of the day. Assoc. Prof. Dr Dewi Amat Sapuan and Assoc. Prof. Dr. M. Shanmugam started the lecture by introducing five organization's resources: financial, physical, human capital, technological and reputational. Regardless of the type of resources, the major factor of succeeding in the market is organizational capabilities, which is the ability to bring a product in the market faster than its competitors by integrating each individual resources to create competitive advantage. Competitive advantage is vital for a firm in order to outperform its competitors because the implementation of value-creating strategy allows sustainability of a firm in the market in the long run.
We also learned the Porter's Five Forces Model, which permits us to understand where the strength of a firm lies in the business situation. This learning is particularly useful to us whose going to be entrepreneurs in near future as it stimulates us to critically analyze the potential capabilities of a firm in a particular industry.
Throughout today's lecture, we gained insights on the importance of organizational capabilities and competitive advantages for a firm. Every lecture of this program is a building block for us to step nearer to be a successful entrepreneur. I am looking forward to participating in more exciting topics and activities...
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