The forth week of lecture...Chapter 4
This chapter is about "evaluating a company's resources, capabilities, and competitiveness".
RESOURCE---> a competitive asset that is owned or controlled by a firm
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CAPABILITY or COMPETENCE---> the capacity of a firm to perform and internal activity competently through deployment of a firm's resources
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COMPETITIVE ASSETS---> when a firm represents its resources and capabilities and are big determinants of its competitiveness and ability to succeed in the marketplace.
RESOURCE BUNDLE---> a linked and closely integrated set of competitive assets centered around one or more cross-functional capabilities. The VRIN tests for sustainable competitive advantage ask if a resource is Valuable, Rare, Inimitable, and Non-sustainable.
SOCIAL COMPLEXITY---> ( company culture, interpersonal relationships among mangers or R&D teams, trust-based relations with customers or suppliers ) and causal ambiguity are two factors that inhibit the ability of rivals to imitate a firm's most valuable resources and capabilities. Causal ambiguity makes it very hard to figure out how a complex resources contributes to competitive advantage and therefore exactly what to imitate.
DYNAMIC CAPABILITY---> the ongoing capacity of a firm to modify its existing resources and capabilities or create new ones by:
1- improving existing resources and capabilities incrementally.
2- adding new resources and capabilities to the firm's competitive asset portfolio.
SWOT ANALYSIS---> simple but powerful tool for sizing up a company's strengths and weaknesses, its market opportunities and the external threats to its future well-being.
COMPETENCE---> activity that a firm has learned to perform with proficiency (capability)
CORE COMPETENCE---> activity that a firm performs proficiently that is also central to its strategy and competitive success.
DISTINCTIVE COMPETENCE---> a competitively important activity that a firm performs better than its rivals (competitively superior internal strength)
STRENGTH---> represents its competitive asstes.
WEAKNESSES---> shortcomings that constitute competitive liabilities.
VALUE CHAIN---> identifies the primary activities are related support activities that create customer value.
BENCHMARKING---> a potent tool for improving a company's own internal activities that is based on learning how other companies perform them and borrowing their " best practices ".
tq...:)
Addition :
The example of SWOT + TOWS analysis
I think the news story about the resource. So I'm just sharing to you..
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