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SM CH6
| Question | Answer |
|---|---|
| Which are the 3 basic resources? | tangible, intangible, organizational capabilities |
| characteristics of tangible | easy to identify, include physical and financial assests |
| characteristics of intangible | cannot be seen or touched, very critical in competitive advantage |
| defined the organizational capabilities | involved skills, ability to combined assets, people and pricesses |
| examples of tangible | production facilities, financial resources |
| examples of intangible | patents, brand name |
| what makes resources valuable (4) | competitive superiority, scarcity, inimitably,durability, sustainability |
| characteristics making resources difficult to imitate | physically unique, path dependency, casual ambiguity, economic deterrence |
| using the resource based value in internal analysis (3) | disaggregate resources, functional resources, value chain |
| described the SWOT analysis | opportunities major favorable in a firms environment, threats unfavorable situation in a firm, strenghts resource advantage relative to competitors, weaknesses deficiency in one of more resources |
| Characteristics of the functional approach | involves identifying internal strategic factors, reliance of internal factors varies by industry, market segment, product life cycle, analysis on past trends in sales, cost and profits |
| What is value chain analysis? | focus on how a business creates customer values by examining internal resources, divides the firm into set of activities, allows better identification of firms strengths and wealnesses |
| internal analysis: making meaningful comparisons | past performance, stages of industry evolution, bench marking, comparison with success factors in the industry |
| 3 critical ingredients for success? | realistic to firms resources, consistent with competitive environment, carefully executed |
| SWOT analysis diagram, draw | |