Chapter 4 Business Strategy
Resource Heterogeneity
insight that bundles of resources, capabilities and competencies differ across firms
Isolating Mechanisms do what
Help a firms sustain a competitive advantages
Intellectual property protection and social complexity are examples of ________.
Isolating mechanisms
According to the ________ view, firms are a distinctive collection of resources, capabilities and competencies.
Resource based
____ are any assets that a firm can draw on when formulating implementing a strategy.
Resources
An early decision in the development of a firms such as where the firms is established can have a major influence on final outcomes. This referred to as _____
Path Dependence
A core competency can help a company achieve which of the following?
-Differ products -Offer product at a comparable or lower price then competitor - create higher value for customers
Which of the following statements are true about the capabilities of a firm?
-Include managerial - Concern with the deployment of resources - Include organizational skills
A resource is considered valuable in which of the following situations?
-The resource helps the firm increase its economic value creation -resource helps a firm exploit an external opportunity
VRIO is an acronym for.....
-Valuable -Rare -Imitate -Organization
______ are the distinct and fine-grained business processes that enable firms to add incremental value by transforming inputs into goods and services
Activities
______ are organizational and managerial skills necessary to orchestrate a diverse set of resources and deploy them strategically.
Capablilites
Resource Immobility
resources that don't move easily from firm to firm.