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For this week’s discussion, we learned about internal assessment and external assessment. The most relevant topic for me was the 10 external forces that impact organizations, more specifically the forces that affect organizations in the middle of a pandemic as we experience this past year. During a pandemic, economic, social, cultural, environment, political, governmental and legal forces impact organizations. This past year, all companies were either positively or negatively affected by all or some of these forces. An event as huge as a pandemic has the capacity to affect companies through changes in all of the forces mentioned above.

Governments sometimes use “protectionism” to cope with economic problems, imposing tariffs and subsidies on foreign goods and restrictions/incentives on their own firms to keep jobs at home. What are the strategic implications of this trend for international commerce?

           Protectionists actions by countries constitute an example of political, governmental, and legal categories to be monitored by companies as an external force that impacts businesses. Local, state, and federal laws, as well as regulatory agencies and special-interest groups, can have a major impact on the strategies of small, large, for-profit, and nonprofit organizations. Many companies have altered or abandoned strategies in the past because of political or governmental actions (David, 2020). The strategic implications of this trend for international commerce are that it limits its growth and expansion. By feeling limited by these restrictions, companies would not be thinking of increasing international commerce and it could potentially come to a stall.

Do you agree or disagree with the resource-based view theorists that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage? Explain your and their position.

           I do agree that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage. At the end of the day, the only factors a company has any control or power over are its internal factors or resources. Companies have typically no control over external factors that impact their business, therefore by focusing on the internal resources, they would be able to achieve an organic competitive advantage over their competitors. Because external factors can change, companies should not fully depend on those to thrive.

References

David, F., David, F. & David, M. (2020) Strategic Management: Concept and Cases. Seventeenth Edition. Pearson. Boston, MA.