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SM CH6

QuestionAnswer
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
Created by: jnartig