• Study Resource
  • Explore
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
PDF
PDF

... market research (questions regard the position of the brand in the market, the skills of suppliers, the requirements of retailers and consumers, and the strategy of competitors, and the analysis of market data). The third one (Objectives) regards the analysis of the marketing strategy, concerning th ...
introduction to strategic marketing decisions
introduction to strategic marketing decisions

... business plan. The module builds on the skills you have developed in the Marketing Planning module at Professional Diploma in Marketing and the Analysis & Evaluation module at Professional Postgraduate Diploma in Marketing. The knowledge and skills you develop in studying this module will be then ta ...
what is strategy
what is strategy

... For almost two decades, managers have been learning to play by a new set of rules. Companies must be flexible to respond rapidly to competitive and market changes. They must benchmark continuously to achieve best practice. They must outsource aggressively to gain efficiencies. And they must nutture ...
IOSR Journal of Business and Management (IOSR-JBM)
IOSR Journal of Business and Management (IOSR-JBM)

... European HRM management thinkers, particularly in the UK, have focused more on the contrast between soft" and "hard" forms or versions of HRM. As Truss et al., who conducted eight in-depth case studies in the UK, suggested, "Two of the most widely adopted models of human resource management are the ...
Chapter 12 Monopoly I. Market Power A. Market power and
Chapter 12 Monopoly I. Market Power A. Market power and

... Example: The buying of taxi cab medallions (a government license) in New York City. b) Create a monopoly—expend resources seeking political influence, such as lobbying legislators to provide preferential market status by restricting domestic competition or enacting tariffs on imports. Example: U.S. ...
competitive analysis
competitive analysis

... techniques, more entrepreneurial management, and superior customer relationship management strategies. ...
Chapter 16
Chapter 16

... worthwhile information gaining awareness and sales momentum on the Web – Consultative selling, situations where the outside representative becomes a trusted member of the client’s management team and the salesperson’s input is highly valued, is a most profitable activity – IBM has created a “virtual ...
THE EFFECT OF MARKET POSITIONING ON ORGANIZATIONAL
THE EFFECT OF MARKET POSITIONING ON ORGANIZATIONAL

... The value of any pricing strategy is questionable if it is not congruent with the overall strategy of the firm. Pricing strategies, which do not reflect organizational goals, can detrimentally affect performance outcomes. The consequences of pricing strategies have important managerial and public po ...
the-management-of-technology-and-innovation-2nd-edition
the-management-of-technology-and-innovation-2nd-edition

...  Strategic planning is a single act that lays out the direction of the firm.  Strategic planning is not the same as strategy. PTS: 1 4. What is a value chain analysis? Why is it important to MTI? ANS:  This analysis breaks the firm's activities into primary activities and support activities.  Pr ...
The role of marketing capabilities in firm`s success
The role of marketing capabilities in firm`s success

... integration can integrate information and insights from changing external environment. Premised on these insights, we argue that decentralization, customer-based structure, inter-functional integration positively moderate the positive relationship between marketing capability, organization adaptatio ...
Electronic Marketing
Electronic Marketing

... Joel Reedy and Shauna Schullo ...
PDF
PDF

... The paper is organised as follows: the theoretical framework is outlined in section 2; the methodology is  set  up  in  section  3;  the  results  are  described  in  section  4,  and  concluding  remarks  are  highlighted  in  ...
Chapter 4
Chapter 4

... • Suppliers, key people or organizations working outside the company must understand – What final outcomes are expected ...
BA 206 LPC 03
BA 206 LPC 03

... SBUs shown in yellow are selectivity/earnings areas. These SBUs may have strong positions in a weak industry (similar to a cash cow), moderate positions in a somewhat attractive industry, or weak positions in an attractive industry (similar to a question mark). SBUs shown in red are harvest/divest a ...
Building Marketing Capabilities as a Way to Form a Better Global
Building Marketing Capabilities as a Way to Form a Better Global

... and business executives to formulate a global marketing strategies that can help them to pursue their international operation in foreign markets successfully. For this purpose, the paper utilizes marketing capabilities of the firm including market sensing, partner linking and customer engagement and ...
Seeing market orientation through a capabilities lens
Seeing market orientation through a capabilities lens

... Jaworski (1990) a firm exhibiting market orientation engages in the generation of market intelligence, disseminates this intelligence throughout the organisation – and develops effective strategies in response to this information. Narver and Slater (1990) characterise market-oriented as being more c ...
Industrial Organization
Industrial Organization

...  Instead, they offer products that are not too different from their competitors’ products yet have some unique features ...
The Relationship between Marketing Information System and
The Relationship between Marketing Information System and

... Porter believes that, the industry competitiveness is largely contributed by the way it is structured economically. This will determine the degree to which an organization can combat competition in the market. In his approach, he seeks to exemplify the competition in the market and its dynamism. He ...
Marketing and operations management: an integrated approach to
Marketing and operations management: an integrated approach to

... the model of operational effectiveness offered by Porter. We must assume that ``resources'' represent a fixed level of capital which may be deployed at the discretion of management. Given the earlier discussion, Porter's production frontier may be modified to reflect the options available to managem ...
Exploring Strategies Required for Small Business
Exploring Strategies Required for Small Business

... Scholars confirmed that large firms have a near 100% survival rate, while small businesses have a low survival rate (Chen & Chen, 2013). Small business owners experience challenging times to improve the economy (Geho & Frakes, 2013). Lack of education, training, and support required for the identifi ...
Strategy Formulation
Strategy Formulation

... achieve Common Operating Objectives of Organizations ...
Exploration- and Exploitation-Oriented Marketing Strategies
Exploration- and Exploitation-Oriented Marketing Strategies

... The impact of business environments on firm performance has been discussed extensively across strategic management, marketing, and organizational theory literature [2, 7, 8, 44]. Industry structure and environmental dynamism have been identified as two key environmental factors that affect business ...
Components of the Marketing Plan
Components of the Marketing Plan

... –Growth occurring when current products and current markets have the potential for increasing sales –Market penetration: increasing sales of current products in current markets –Market development: increasing sales of current product in new markets –Product development: increasing sales by improving ...
Marketing and business performance
Marketing and business performance

... resources as the stocks of tangible (e.g., plant and equipment) and intangible (e.g., knowledge, reputation) assets available to the firm, while capabilities are the processes by which the firm acquires new resources and transforms available resources into realized marketplace value offerings (e.g., ...
MARK SCHEME
MARK SCHEME

... The mark scheme is not intended to be totally prescriptive. For many questions, there may be a number of equally legitimate responses and different methods by which the candidates may achieve good marks. No mark scheme can cover all the answers which candidates may produce. In the event of unanticip ...
< 1 2 3 4 5 6 7 8 9 10 ... 27 >

Resource-based view

The resource-based view (RBV) as a basis for the competitive advantage of a firm lies primarily in the application of a bundle of valuable tangible or intangible resources at the firm's disposal (Mwailu & Mercer, 1983 p142, Wernerfelt, 1984, p172; Rumelt, 1984, p557-558; Penrose, 1959). To transform a short-run competitive advantage into a sustained competitive advantage requires that these resources are heterogeneous in nature and not perfectly mobile (: p105-106; Peteraf, 1993, p180). Effectively, this translates into valuable resources that are neither perfectly imitable nor substitutable without great effort (Barney, 1991;: p117). If these conditions hold, the bundle of resources can sustain the firm's above average returns. The VRIO and VRIN (see below) model also constitutes a part of RBV. There is strong evidence that supports the RBV (Crook, Ketchen, Combs, and Todd, 2008). RBV has been extensively applied in management and marketing (Kozlenkova, Samaha, and Palmatier). Identify the firm’s potential key resources. Evaluate whether these resources fulfill the following criteria (referred to as VRIN): Valuable – A resource must enable a firm to employ a value-creating strategy, by either outperforming its competitors or reduce its own weaknesses (: p99;: p36). Relevant in this perspective is that the transaction costs associated with the investment in the resource cannot be higher than the discounted future rents that flow out of the value-creating strategy (Mahoney and Pandian, 1992, p370; Conner, 1992, p131). Rare – To be of value, a resource must be rare by definition. In a perfectly competitive strategic factor market for a resource, the price of the resource will be a reflection of the expected discounted future above-average returns (Barney, 1986a, p1232-1233; Dierickx and Cool, 1989, p1504;: p100). In-imitable – If a valuable resource is controlled by only one firm it could be a source of a competitive advantage (: p107). This advantage could be sustainable if competitors are not able to duplicate this strategic asset perfectly (Peteraf, 1993, p183; Barney, 1986b, p658). The term isolating mechanism was introduced by Rumelt (1984, p567) to explain why firms might not be able to imitate a resource to the degree that they are able to compete with the firm having the valuable resource (Peteraf, 1993, p182-183; Mahoney and Pandian, 1992, p371). An important underlying factor of inimitability is causal ambiguity, which occurs if the source from which a firm’s competitive advantage stems is unknown (Peteraf, 1993, p182; Lippman and Rumelt, 1982, p420). If the resource in question is knowledge-based or socially complex, causal ambiguity is more likely to occur as these types of resources are more likely to be idiosyncratic to the firm in which it resides (Peteraf, 1993, p183; Mahoney and Pandian, 1992, p365;: p110). Conner and Prahalad go so far as to say knowledge-based resources are “…the essence of the resource-based perspective” (1996, p477). Non-substitutable – Even if a resource is rare, potentially value-creating and imperfectly imitable, an equally important aspect is lack of substitutability (Dierickx and Cool, 1989, p1509;: p111). If competitors are able to counter the firm’s value-creating strategy with a substitute, prices are driven down to the point that the price equals the discounted future rents (Barney, 1986a, p1233; Sheikh, 1991, p137), resulting in zero economic profits. Care for and protect resources that possess these evaluations, because doing so can improve organizational performance (Crook et al., 2008).The VRIN characteristics mentioned are individually necessary, but not sufficient conditions for a sustained competitive advantage (Dierickx and Cool, 1989, p1506; Priem and Butler, 2001a, p25). Within the framework of the resource-based view, the chain is as strong as its weakest link and therefore requires the resource to display each of the four characteristics to be a possible source of a sustainable competitive advantage (: 105-107).
  • studyres.com © 2025
  • DMCA
  • Privacy
  • Terms
  • Report