Resources and Capabilities - 978 Words

3.0 Resources and capabilities This paragraph begins by laying out the theoretical dimensions: Resources and capabilities Definition of resources In order to get a deeper understanding of the concept resources, a definition can shed some light on this matter. While a variety of definitions of the term resources have been suggested in the literature of resources, this paper introduces the definition first suggested by Teece et al. (1997) who determined resources as ‘firm – specific assets that are difficult if not impossible to imitate’. In comparison to Teece, Barney (1991) describes resources differently. He describes resources as it ‘includes all assets, capabilities, organizational processes, firm attributes, information, knowledge†¦show more content†¦| Non – Substitutable | The resource cannot be strategically equivalent valuable resources that are neither rare nor imitable. It can take two forms: a firm can maybe substitute a similar resource that leads to implementing the same strategies. Secondly, different resources can be defined as strategic substitutes. | Definition of capabilities Numerous studies have attempted to explain the meaning of capabilities. According to Zahra et al. (2006) ‘capabilities are essentially change – oriented capabilities that help firms redeploy and reconfigure their resource base to meet evolving customer demands and competitor strategies’. Moreover, Teece et al. (1997) describes the term capability as follows: ‘capabilities emphasize the key role of strategic management in appropriately adapting, integrating, and reconfiguring internal and external organizational skills, resources, and functional competences to match the requirements of a changing environment’. Entrepreneurs can distinguish themselves through obtaining and acquiring new competences. These individual competences have to be distinctive and not easy to imitate (Teece et al., 1997). One example of these capabilities is: Knowledge. Knowledge aims on identifying, deploying and exploiting new opportunities and resources. According to Seelos amp; Mair (2005), entrepreneurs recognize the value of possible resources due to theShow MoreRelatedResources Capabilities20336 Words   |  82 PagesCSAC05 1/13/07 9:21 Page 123 5 Analyzing Resources and Capabilities Analysts have tended to deï ¬ ne assets too narrowly, identifying only those that can be measured, such as plant and equipment. Yet the intangible assets, such as a particular technology, accumulated consumer information, brand name, reputation, and corporate culture, are invaluable to the ï ¬ rm’s competitive power. In fact, these invisible assets are often the only real source of competitive edge that can be sustained over timeRead MoreResource and Capability4994 Words   |  20 PagesSummary 03 2 Resource Demands 04 2.1 Financial Resources 2.2 Human Resources 04 2.3 Physical Resources 05 2.3.1 Location 05 2.3.2 Technological Resources 05 2.3.3 Marketing 06 2.3.4 Infrastructure Resources 06 2.4 Intangible Resources 06 2.4.1 Brand 07 2.4.2 Reputation 07 2.4.3 Goodwill 07 2.4.4 Organizational Values 07 2.5 Value Chain Analysis 07 3 Resource Availability 09 Read MoreAldis Resources Capabilities1076 Words   |  5 PagesAE-2011 Resources and Capabilities 1.1 Financial Resources Capabilities During the period from 2007 to 2009 total sales went up 8.13% which is a strong performance. Most contribution is driving from domestic sales (i.e. German operations). 2007 Turnover (â‚ ¬m) Total turnover growth (%) Grocery Sales Density (euro/sqm/wk) Number of Stores Sales Area (‘000 sqm) 41,818 +3.9 2008 45,183 +8.0 2009 45,221 +0.1 121 121 116 8,515 6,645 9,065 7,153 9,430 7,499 ALDI financial resources seemRead MoreWallmart Resources and Capabilities1361 Words   |  6 PagesJuly 5, 2011 Resources and Capabilities of Wal-Mart Wal-Mart had enough financial resources to make capital investments to improve its operations and labor productivity. Most important investments were technological investments such as the UPC (Uniform Product Code) infrastructure, the computerized system within stores and the satellite network that enabled almost real-time communication among the stores, the distribution centers and vendors. These technological resources can also be classifiedRead MoreMcdonalds Resources and Capabilities Essay1061 Words   |  5 PagesWhat are the particular resources and capabilities that McDonalds has been relying upon for its recent turnaround? After longstanding growth within the fast food industry, McDonalds began to experience a decline in their annual earnings in the late 90s. Prior to the decline, McDonalds was a segment leader within the fast food industry and was widely recognized for its outstanding service and quality. Once known as the benchmark company by industry insiders, McDonalds began to lose sight ofRead MoreDeveloping Resources And Capabilities Of The Company903 Words   |  4 PagesDeveloping Resources and Capabilities The company has a plan of policy which they intend to use in the quest to achieve their objectives. These objectives include customer satisfaction by ensuring timely delivery and also increasing the number of products required for sales and thus quench the increased demand for online products (Kotler et al, 2015). Strategy formulation has certain features which need to be put in place so as to ensure that the laid down action plan succeeds. These include: Read MoreEssay on Burberrys Resources and Capabilities2579 Words   |  11 PagesThe Analysis of Burberry’s Sustainable Competitive Advantage base on its Resources and Capabilities Introduction Burberry is a British luxury brand founded by Thomas Burberry in 1856, which design, sources manufactures and distributes high quality apparel and accessories for men, women and children. Burberry â€Å"has been defined by an overt Brutishness, a trio of instantly recognizable icons (the trench coat, the trademark check, and the ‘prorsum’ knight logo), and a deft creativity that ensureRead MoreKey Resources And Capabilities Of Philips1240 Words   |  5 PagesKey Resources Capabilities Philips Philips has thrived on its technological prowess, which is a result of their strong focus on research and development. Specifically, Philips maintains a product-focused strategy and their highly decentralized National Organizations allow them to adapt to different market conditions globally. Human capital has historically been a key resource for the company, as they focused on caring for their workers and coordinating business efforts in a cross-functional environmentRead MoreInternal Environment Resources and Capabilities of an Organization1034 Words   |  4 Pagesinternal environment, resources and capabilities of an organization. It highlights the two main analyses which are essential for any organization and which plays a main role in the formulation of a strategy. In addition to this, it also describes the primary and support activities of an organization. Two key factors, which are important in doing an internal analysis, are Resource Based View framework (RBV) and Porters Value Chain. These factors are also described. The Resource Based View frameworkRead MoreExxon Mobil Resources and Capabilities Essay1914 Words   |  8 PagesExxon Mobile are the company’s resources and capabilities. Resources One of the most reputable resources that Exxon Mobil has today is a strong brand name. Exxon Mobil operates all over the world and is recognized in every part of the world (Datamonitor, 2008). When people all over the world know who a company is, what they do, and where they are located, the company gains a unique competitive advantage over the rest of the industry. A good way to analyze this resource is to use the VRINE Model (Strategic