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In addition, management must invest in organisational learning to develop, nurture and maintain key resources and competencies. In the resource-based view, strategists select the strategy or competitive position that best exploits the internal resources and capabilities relative to external opportunities.
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information.
In organizational theory, dynamic capability is the capability of an organization to purposefully adapt an organization's resource base. The concept was defined by David Teece, Gary Pisano and Amy Shuen, in their 1997 paper Dynamic Capabilities and Strategic Management, as the firm’s ability to engage in adapting, integrating, and reconfiguring internal and external organizational skills ...
A core competence is, for example, a specialised knowledge, technique, or skill. The core capability is the management ability to develop, out of the core competences, core products and new business. Competence building is, therefore, an outcome of strategic architecture which must be enforced by top management in order to exploit its full ...
The notion of capability in MODAF, however, is slightly different from the notion of capability in, for example, Dynamic Capabilities Theory. In MODAF "Capability" refers to a military capability – an ability to produce military effects – or enabling or supporting capabilities. Nevertheless, the central thesis that politico-military ...
A performance indicator or key performance indicator (KPI) is a type of performance measurement. [1] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [ 2 ]
SWOT has been described as a "tried-and-true" tool of strategic analysis, [3] but has also been criticized for limitations such as the static nature of the analysis, the influence of personal biases in identifying key factors, and the overemphasis on external factors, leading to reactive strategies. Consequently, alternative approaches to SWOT ...
Capacity building (or capacity development, capacity strengthening) is the improvement in an individual's or organization's facility (or capability) "to produce, perform or deploy". [1] The terms capacity building and capacity development have often been used interchangeably, although a publication by OECD-DAC stated in 2006 that capacity ...