![]() Quadrant Three, Imitable: How difficult would it be for competitors to acquire this resource? Even if the resource is rare right now how likely is it that it it will no longer be in the future? Quadrant Two, Rare: Is this resource easily found elsewhere? A resource that is very common is definitely a positive, but likely not the key to gargantuan success. Quadrant One, Valuable: Does this resource truly bring value to customers? If not, it may not deserve the attention it has received. The VRIO framework helps you dig deeper and make sure that you are effectively using your strengths as resources. There are factors that could prevent these strengths from contributing to success. When it comes to strategic planning, it is important that you do not stop with a SWOT analysis, content with the strengths that you’ve uncovered. Quadrant Four, Threats: Given weaknesses (or competitors’ strengths) where could the company get in trouble? VRIO FrameworkĪfter you have completed the SWOT analysis, the VRIO framework helps you analyze your strengths and understand if these strengths translate to advantage. Quadrant Three, Opportunities: Given the strengths (or competitors’ weaknesses) what are the opportunities for success that you can see? Quadrant Two, Weaknesses: What are the areas where the company needs improvement? Quadrant One, Strengths: What does the company have going for it? This is a great start in strategic planning because it helps you get a sense of how things really are before you create strategic objectives: ![]() ![]() The SWOT Analysis helps you take a look at your company and analyze both potential positives and negatives. Check out these strategic planning models and launch them in Priority Matrix, via the links provided. You can launch these models and share them in a strategic planning meeting or you can work on these models in collaboration with other executives, across time. Priority Matrix’s four-quadrant design supports multiples strategic planning models. However, before this can happen, a solid strategic plan must be in place. Advanced views like the Gantt Chart, in-context information, and one on one views, help executives make sure that strategic decisions inform operational activities. Because of its ability to improve communications and increase visibility across the organization, Priority Matrix is ideal for strategic planning. ![]()
0 Comments
Leave a Reply. |