It is the third part of the paper..1. Internal strengths and weaknesses based on customer value proposition and VRIO analysis:
Look at the slides of our second class > https://ebs.instructure.com/courses/1625/files/folder/Slides
1.1 Identify your most important customer persona – describe your customer persona in detail (demographics, background, etc/ are they young, old, urban, rural, male, female, family, alone, B2B, B2G, institutional buyer, gatekeeper, …);
What is most important to them when purchasing the products / services that you are offering;
How are you really better than your competitors, and where we you worse – based on win-lose-showoff-whining chart (p. 26 of your slides);
What makes you really unique in the eyes of your core customer persona?
1.2 Thereafter assess what are the most important strengths and weaknesses on the basis of VRIO analysis (pp. 34-37 of the slides).
What is the biggest strength of your firm. What is the thing (resource, capability, tool, …) that you have that is VRIO:
Very valuable, something that is of great monetary importance
Rare, not many other companies have it the same way
Inimitable, difficult to copy, difficult to replace by others
Organized by you well – something that you have been able to deliver in practice.
What is your biggest weakness. What the resource, capability, tool … that most other competitors have, but you do not have? It is:
Others have it and manage it well, but not us …
2. What will be TOWS strategic scenarios that your company could contemplate?
Look at slide no. 41 for inspiration and:
Strength + opportunity = start now scenario
Strength + threat = risk management scenario
Weakness + opportunity = improve ourselves scenario
Weakness + threat = closing down scenario