Successful strategies align with external opportunities and internal resources from "summary" of Competitive Strategy by Michael E. Porter
Successful strategies are not created in a vacuum. They are formed by carefully analyzing the external environment and matching it with the internal capabilities of the organization. This alignment is crucial for a strategy to be effective and sustainable over time. External opportunities refer to the potential areas for growth and development in the market. These opportunities can arise from changes in customer preferences, technological advancements, regulatory changes, or shifts in the competitive landscape. By identifying and capitalizing on these opportunities, a company can gain a competitive advantage and position itself for long-term success. On the other hand, internal resources are the assets, capabilities, and competencies that a company possesses. These resources can include tangible assets like manufacturing facilities and distribution networks, as well as intangible assets like brand reputation and intellectual property. By leveraging these resources effectively, a comp...
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