Distinctive Resources and Capabilities - Management Assignment Help

Assignment Task:

Task:

DISTINCTIVE RESOURCES AND CAPABILITIES AS A BASIS OF COMPETITIVE ADVANTAGE

As explained above, distinctive resources and capabilities are necessary for sustainable competitive advantage and superior economic performance. This section considers four key criteria by which resources and capabilities can be assessed in terms of them providing a basis for achieving such competitive advantage: value, rarity, inimitability and organisational support – or VRIO.6

Figure 4.2 illustrates these four fundamental criteria and the questions they address.

V – value of resources and capabilities

Valuable resources and capabilities are those which create a product or a service that is of value to customers and enables the organisation to respond to environmental opportunities or threats. There are three components to consider here:

? Taking advantage of opportunities and neutralising threats. The most fundamental point is that to be valuable, resources and capabilities need to address opportunities and threats that arise in an organisation’s environment. This points to an important complementarity with the external environment of an organisation (Chapters 2 and 3). An opportunity is addressed when a resource or capability increases the value for customers either through lowering the price or by increasing the attractiveness of a product or service.

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