Vrio framework Study guides, Study notes & Summaries

Core Competencies embedded strengths enabling value-creation Capabilities strategically orchestrating diverse resources Resources assets leveraged for strategy/ formulation Looking Inside the Firm for Core Competencies Competitive advantage derives from core competencies, which enable: 1. Differentiation of products/services creating perceived value, or 2. Cost leadership - offering products/services of comparable value at lower cost (Diagram) Looking Inside the...

MBA 705 CH 8&9 Questions and Answers Capital-Labor Substitution - Correct Answer ️️ -An organization's ability to substitute labor for capital or vice versa as production increases. Experience Curve - Correct Answer ️️ -The reduction in per-unit costs that occur as an organization gains experience producing a product or service. It's based on three underlying concepts: (1) learning, (2) economies of scale, and (3) capital-labor substitution possibilities Functional Strategies - ...

WPC 480 Chapter 4 Exam With Complete Solutions Core competencies - answerUnique strength, embedded deep within a firm, that are critical to gaining and sustaining competitive advantage. Resources - answerAny assets that a firm can draw on when formulating and implementing a strategy. Capabilities - answerOrganizational and managerial skills necessary to orchestrate a diverse set of resources and deploy them strategically. Activities - answerDistinct and fine-grained business processes th...

Strategy An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantages. Vision What do we want to accomplish? Mission How do we accomplish our goals? And what do we do to accomplish our goals? Stakeholders organizations, groups, and individuals. They can affect or are affected by a firm's actions. Competitive Advantage superior performance relative to other competitors in the same industry or the industry average. Sust...

How would you evaluate Paul Polman’s 2010 decision to implement a new strategy based on the Unilever Sustainable Living Plan (USLP)? What benefits did it offer? What risks did it present? Gary Hamel and C.K.Prahalad proposed a framework called the Core-Competence Market Matrix ( depicted in the picture above ) In my view, Paul Polman’s basic objective of implementing this new strategy based on USLP was to create a new set of core competence, which would be rare and not easy to copy. Th...

A Product or service that is valuable but is not rare, has what is called Competitive Parity: True False - ANS True The definition of management is to work with and through others to achieve goals in an effective and efficient manner: true false - ANS true Complexity development is quickly emerging as an opportunity for managers to stay at the forefront of organizational effectiveness: true false - ANS true KSA, in regards to the FUN module, stands for:...

Strategic Management the integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. Strategy set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. Three things for good strategy 1. diagnosis of competitive challenge 2. guiding policy to address competitive challenge 3. A set of coherent actions to implement the firm's guiding policy. competitive advan...

WPC 480 Chapter 4 Exam With Complete Solutions Core competencies - answerUnique strength, embedded deep within a firm, that are critical to gaining and sustaining competitive advantage. Resources - answerAny assets that a firm can draw on when formulating and implementing a strategy. Capabilities - answerOrganizational and managerial skills necessary to orchestrate a diverse set of resources and deploy them strategically. Activities - answerDistinct and fine-grained business processes th...

How would you evaluate Paul Polman’s 2010 decision to implement a new strategy based on the Unilever Sustainable Living Plan (USLP)? What benefits did it offer? What risks did it present? Gary Hamel and C.K.Prahalad proposed a framework called the Core-Competence Market Matrix ( depicted in the picture above ) In my view, Paul Polman’s basic objective of implementing this new strategy based on USLP was to create a new set of core competence, which would be rare and not easy to copy. Th...

What does the VRIO framework stand for? Valuable- is the resource valuable?, rare- is the resource rare?, imitable- is the resource imitable?, organized- are there organizational processes in place to support valued resources? What are the 3 types of resources? Tangible, Intangible, Capabilities Brainpower Read More What king of resource does this describe? Spur's strong brand name Intangible What king of resource does this describe? reputation for a good steak Intangible What king ...