• 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
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 ...
Supply Space and Horizontality in Firms and Mergers
Supply Space and Horizontality in Firms and Mergers

... irrationality in aspects of contemporary antitrust. 3 As will be pointed out, part of the problem may be involuntarily self-inflicted - an inadequate -conceptual framework of mergers. Theory and empirical evidence suggest two broad motivations for merger: (1) technological ("functional") relationshi ...
5 steps to taking the surprise factor out of marketing
5 steps to taking the surprise factor out of marketing

... Maximize budget spend It’s bad enough when marketers juggle spreadsheets to create calendars, but things really get messy when they use spreadsheets to manage the marketing budget. A marketing budget can be a volatile beast, influenced by factors such as data, competition, or even spur-of-the-moment ...
Marketing Strategy Chapter 9
Marketing Strategy Chapter 9

... In 2009 only 10% of firms regularly employed customer analytics, the number grew to over 80% in 2013, with firms spending 21% of their marketing budget on customer analytics projects Vendor market for customer analytics is burgeoning; for example, the worldwide customer analytics software market, co ...
Expeditionary Marketing
Expeditionary Marketing

... Merely using some information is insufficient to generate superior performance. Using knowledge held by marketing managers contributes to superior performance. Relying too excessively on organizational memory can inhibit innovativeness. It is the marriage of marketing knowledge with technological kn ...
Business Studies Stage 6 HSC Course Support
Business Studies Stage 6 HSC Course Support

... Create business scenarios which illustrate the difference between legal compliance and ethical responsibility o use these scenarios to recommend possible operations strategies for one hypothetical business Investigate the role of ethics and corporate social responsibility in a large business Discuss ...
PDF
PDF

... intelligence has to be generated, namely there should be an analysis of the consumers’ needs together with a study of the external environment, and the results of this market research have to be disseminated across departments with perfect coordination (Kohli and Jaworski, 1990; Kara et al., 2005). ...
Competence-Based View in the Marketing Theory
Competence-Based View in the Marketing Theory

... comprehension of behaviour between organizations, their interrelationships mainly in the field of B2B and consummates itself in a network marketing concept. (Achrol-Kotler, 1999; Ford 2003). In a time of interactive business networks, emphasis was put on the understanding of customer relations and t ...
MARKETING STRATEGY NOVEMBER 2014 MODEL ANSWERS
MARKETING STRATEGY NOVEMBER 2014 MODEL ANSWERS

... statement is important in helping and organization develop and overall direction (b) The vision refers to where the organization would like to see itself in the future. The vision contributes to the development of the overall direction of the organization (c) Strategies refer to the means of achievi ...
Core Issues and Terms in Marketing – The Basics
Core Issues and Terms in Marketing – The Basics

... Traditionally, differentiation relates to real or imaged differences in offerings (Kotler). This still holds. Different offerings are a key in positioning a firm – the loyalty-inspiring difference. So differentiation is a core tactic to support firm positioning. Kartajaya: “Content (what to offer) i ...
B203A – Q. Week 7 – Marketing – Chapter 1 – Chapter 2 Q1) Define
B203A – Q. Week 7 – Marketing – Chapter 1 – Chapter 2 Q1) Define

... markets towards which activities are to be targeted, and identifies the types of competitive advantage that are to be developed and exploited. The strategy requires clear objectives and a focus in line with an organization‟s corporate goals; the „right‟ customers must be targeted more effectively th ...
Research on the Sustainable Development of Technological Innovation
Research on the Sustainable Development of Technological Innovation

... Over the last few years, our SMEs have developed and contributed greatly to the development of our economy. However, for various reasons, there are still a great deal of problems associated with our small & medium enterprises, including shortage of technical talents, lack of fund, lower technology l ...
Evaluating a Firm`s External Environment
Evaluating a Firm`s External Environment

... that the focal firm faces directly. Whereas interest rates in the general environment may have an indirect effect on a firm, the firm’s customers have a more direct effect. • An industry analysis is done with the intent of identifying opportunities (market imperfections) that can be exploited and/or ...
Enviropreneurial Marketing Strategy
Enviropreneurial Marketing Strategy

... and societal interest in environmental issues, most firms placed little importanceon the role of the naturalenvironment in developing marketingstrategies and guiding business decisions. At a more fundamentallevel, it is importantto recognize that not only was corporatesocial responsibilitya relative ...
Achieving alignment between manufacturing and marketing through
Achieving alignment between manufacturing and marketing through

... competitor's perspective. Manufacturing strategy is connected to business strategy through market requirements (Hill, 1985). Market requirement or identification of customer's needs and wants is the foundation of marketing strategy. Thus, manufacturing and marketing strategies are inadvertently link ...
Super-Ensembles: The Firms Who Are Shaping the Future of the
Super-Ensembles: The Firms Who Are Shaping the Future of the

... A group of 250 advisory firms is shaping the future of the industry and setting the standard for pace of growth, productivity, client service and best practices for career tracks and succession. These “super-ensemble” firms are highly regarded by their peers and seen as an example to follow. They ar ...
Target marketing and segmentation: valid and useful tools for
Target marketing and segmentation: valid and useful tools for

... relatively small. Also, the firm can become the recognized expert on a segment, which may pay dividends for years in terms of lower product development costs. In short, barriers to entry into the market that are not related to any potential anti-trust problems. These barriers are investment levels n ...
competitive adventage on the basis of the strategy low price
competitive adventage on the basis of the strategy low price

... ways that create greater customer value than its competitors and, therefore, can determine the highest price (differentation) (Hidl, 2006). The strategic position of low prices with all the appropriate elements of the marketing strategy certainly brings real basic earnings enterprise. Such a positio ...
CHAPTER 2 Strategic Planning
CHAPTER 2 Strategic Planning

... Your cousin wants to start his own business, and he is in a hurry. He has decided not to write a marketing plan because he has thinks that preparing such a document would take too long. He says he doesn’t need a formal proposal because he has already received funding from your uncle. Explain why it ...
Market Share Pioneering Advantage
Market Share Pioneering Advantage

... They might be lower than the monopolist's costs at T I ,because some diffusion of information has occurred in the interim period. In the duopoly that now evolves, initial goodwill levels and initial market shares are of course very much lopsided to the advantage of the pioneer. Because of later diff ...
Strategies for Mature and Declining Markets
Strategies for Mature and Declining Markets

... Strategic Choices in Mature Markets • Success in mature markets requires two sets of strategic actions: – The development of a well-implemented business strategy to sustain a competitive advantage, customer satisfaction, and loyalty; – Flexible and creative marketing programs geared to pursue growt ...
Isolating Mechanism
Isolating Mechanism

...  Deterred entry is the only condition under which the incumbents should engage in predatory acts. ...
Competitive marketing strategies in action
Competitive marketing strategies in action

... At the psychological level, disruption is the effect any physical move has on the mind of the competing manager. It relies on surprise to distract his attention and undermine his confidence into making sudden and faulty decisions. When the competing manager feels trapped and unable to counter your m ...
CHAPTER 2 Strategic Planning for Competitive Advantage
CHAPTER 2 Strategic Planning for Competitive Advantage

... differentiation, and niche strategies. Sources of cost competitive advantages include experience curves, efficient labor, no-frills goods and services, government subsidies, product design, reengineering, product innovations, and new methods of service delivery. A product/-service differentiation co ...
FREE Sample Here - We can offer most test bank and
FREE Sample Here - We can offer most test bank and

... a. Uncontrollable factors cannot be fully directed by an organization and its marketers. b. While uncontrollable factors can be fully directed by top management, they cannot be directed by its marketers. c. Uncontrollable factors cannot be incorporated into a marketing plan. d. Uncontrollable factor ...
< 1 ... 3 4 5 6 7 8 9 10 11 ... 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