Premium Essay

Resource

In:

Submitted By praveena06
Words 712
Pages 3
Q1. What is resource based view of a firm?
Ans. The resource-based view (RBV) is a way of viewing the firm and in turn of approaching strategy. Fundamentally, this theory formulates the firm to be a bundle of resources. It is these resources and the way that they are combined, which make firms different from one another. It is considered as taking an inside-out approach while analyzing the firm. This means that the starting point of the analysis is the internal environment of the organization.
Resources of the firm can include all assets, capabilities, organizational processes, firm attributes, information and knowledge. In short resources can be considered as inputs that facilitate the organization to perform its activities. An organization’s resource should have four attributes to provide the potential for competitive advantage. These form the VRIN characteristics.
Valuable - When resources are able to bring value to the firm they can be a source of competitive advantage.
Rare - Resources have to deliver a unique strategy to provide a competitive advantage to the firm as compared to the competing firms. Consider the case where a resource is valuable but it exists in the competitor firms as well. Such a resource is not rare to provide competitive advantage
Inimitable - Resources can be sources of sustained competitive advantage if competing firms cannot obtain them. Consider the case where a resource is valuable and rare but the competing organizations can copy them easily. Such resources also cannot be sources of competitive advantage
Non-substitutable - Resources should not be able to be replaced by any other strategically equivalent valuable resources. If two resources can be utilized separately to implement the same strategy then they are strategically equivalent. Such resources are substitutable and so are not sources of sustained competitive advantage.

Similar Documents

Premium Essay

Resource

...------------------------------------------------- University of Phoenix Material Student Resources Worksheet Resources provided by University of Phoenix can contribute to your academic, personal, and professional success. Support resources include a variety of helpful websites and tools that can assist you in completing assignments, connecting to other students, and searching for careers. Instructions Complete the following Scavenger Hunt Matrix regarding student resources provided by the university. In the first column, list the steps used to locate each resource. In the second column, explain how each resource might contribute to your success. Scavenger Hunt Matrix Student resource | List the specific steps you used to locate each resource. | Explain how you can use each resource to support your academic, career, or personal success. | Course syllabus | On ecampus homepage, under current classes look to the right hand side, you’ll see the link for syllabus | To stay on task. | Academic policies | Under class home, scroll down, Right hand side you will see policies, and click | Use as an outline/guard of what I will be held accountable for. | Instructor policies | Under class home, scroll down, Right hand side you will see policies, and click | To stay on track of my goals of completing the course, and to know what is expected. | University Academic Catalog | Click on program from ecampus homepage, under program progress (right side),...

Words: 422 - Pages: 2

Free Essay

Organizational Resources

...Why Organizations Must Secure Continual Resources By Kai McLemore Columbia Southern University MBA6001 Abstract If an organization is going to succeed, it must depend upon its resources, core competencies, and capabilities. These just happen to be the foundation of competitive advantage. The organization’s resources are structured towards organizational capabilities. This paper will discuss how an organization must compete for resources along with the concerns and cost of securing these resources. This paper will also cover how resource attainment differs with the organization itself, and not set on one set of standards, to include the organization’s environment. An organization’s success will depend on a variety of things but heavily relies on three main areas of concern; resources, core competencies, and capabilities. These are the base of any organization’s competitive advantage over their adversaries. These capabilities are the baseline of the organization’s core competencies which will ultimately put the organization ahead in the competition (Dess, Lumpkin, & Eisner, 2009). The invention of competitive advantage establishes that most important aspect of competition is ultimately related within the leadership of organizational resources. The word resource covers a wide range of social, organizational, and individual sensations. When an organization relies solely on resources, they are failing themselves. Resources itself does not lead toward an advantage...

Words: 3203 - Pages: 13

Free Essay

Student Resources

...University of Phoenix Material Student Resources Worksheet Student resources include a variety of helpful sites and tools that can be of assistance when completing assignments, connecting to other students, and searching for careers. Complete this table regarding student resources provided by the university. In the first column, identify where the resource can be found. In the second column, summarize each resource in at least one sentence. When you are finished with the matrix, answer the follow-up question in part B. 1 Part A: Resources Scavenger Hunt |Student resource |Where found |Summary of the resource | |Syllabus |Top of the classroom |To find all assignments for that class | |Class Policies |Right side of class home page |The Policies of the instructor and class | |University Library |Top of the classroom page |A place to find resources for learning. | |University Academic Catalog |Under program tab, then my program |A place to find the most current academic programs and | | | |policies of your program | |University Learning Goals |Home ...

Words: 343 - Pages: 2

Free Essay

Resource Allocation

...Resource Allocation The given case presents a problem in micro-allocation of resources. The case involves allocation of limited resources among individual patients in the hospital, more specifically among the patients in the emergency room department. Facts of the Case The case provides us with limited information and leaves us with multiple questions that answer and give us pertinent need-to-know facts. There was a traffic accident that was massive enough to strain the resources in the emergency room. There is a need to find out and know the scope of how massive the accident was; the number of victims involved and their ages; and the gravity of each of the victims’ cases (minor or major injuries, stable or unstable, life-threatening or not). It is essential to note what kinds of resources were strained and limited, was it human resources or materials resources or both. There is a need to find out and know how many ER doctors, nurses, nursing aides were on duty that time; the bed capacity in the ER; and what specific materials were limited (medications, IV lines, syringes, cardiac monitors, etc.). It is also vital to know the severity of the case of the 4-year old son of the hospital board member. There is a need to find out how high the fever was, its onset, duration and any associated symptoms. A complete history of the present illness and past medical history as well as a physical examination will aid in establishing the gravity of the ear infection and the need for...

Words: 1103 - Pages: 5

Premium Essay

Resources Search

...2: University Resources Search Search for the answers to the following questions by reviewing the Week 3 University Resources readings on the UNIV/100 Materials page and exploring the student website. To access the Week 3 readings, complete the following steps: 1. Login to your student website at https://ecampus.phoenix.edu. 2. Click the Materials link on the UNIV/100 workshop page. 3. Click the links for the University Resources readings in Week 3. Type an X in the blank space in front of the correct answer. When you have answered all of the questions, save your answers in this Word document and title it Week 3 Assignment 2. Follow the instructions in the syllabus for submitting this assignment to the Assignments link. 1. In the Tutorial and Guides section of the Center for Writing Excellence, there is a resource titled RiverPoint Writer. RiverPoint Writer is a formatting tool that is used with Microsoft® Word to help students create documents consistent with University of Phoenix requirements. a. ___ True b. _x__ False 2. Which of the following services in the Center for Mathematics Excellence provides one-to-one assistance from a live tutor? a. ___ Step-by-Step Math Review b. ___ Building Math Confidence c. _x__ Live Math Coaching 3. Which service in the University Library would you use to request assistance from a librarian? a. ___ Find a Specific Publication b. ___ Choose Resources by Subject ...

Words: 541 - Pages: 3

Free Essay

Community Resource

...Batca Community Resource Management February 18, 2013 Clifton Police Department and Resources After calling the Clifton Police Department I spoke with the duty officer who provided me with some of the information regarding resources that they mainly use to help those in need. He explained to me that when an officer encounters someone who is homeless they advise the person that they should be put into a shelter where they may find food, clothing, warmth and donations. He advised me that there are many shelters and churches that look to help individuals who are in need. However, the officer also stated that in some situations certain individuals do not wish to be helped. In this case he mentioned that he personally finds these people food from a pizzeria that may throw the food out towards the end of the night. Eva’s village is one of the main resources that that these officers count on. It provides a soup kitchen, emergency overnight shelter, addiction treatment programs, and affordable housing options. The website for Eva’s village may be found on http://evasvillage.org/helping-feed-hungry-poor-soup-kitchen.shtml. A phone number to reach Eva’s kitchen is 973- 523-6220. The officer also stated that “Straight and Narrow” was also a great resource that was used. This resource is a non-profit organization who helps and educates those in needs regarding alcohol and drugs. More information for this resource may be found at http://www...

Words: 596 - Pages: 3

Free Essay

Business Resources P3

...Business Resource P3 With Examples, you are to describe the main physical and technological resources required in the operation of your selected organisation. In this assignment I will describe the main physical and technological resources required in the operation of Tesco. Physical Resources Physical resources are resources that the business needs to maintain in order to carry out its activities. They mainly include things like facilities, buildings, machinery and more. These are resources that are available to a business’s organisations in form of buildings and other machineries needed for the day to day running of the organisation. Tesco have many physical resources such as their toilets, buildings, trolleys, CCTV’s. Toilets is a good resource to have within a good organization as it can attract more customers to not feel rushed into shopping because they need to go toilet they can shop at their own paste and use the toilet when they feel to. Another physical resource for Tesco is the car park so customers can park within Tesco’s car park and not have to worry about receiving a ticket, or checking their time to get back to the car before they get a ticket, this will also attract more customers to shop within Tesco. A recent physical resource that Tesco has brought in is the self-checkouts; this is good for customers that want to quick shop as Tesco can be quite busy on some days they don’t want to wait in the long queues so they can use the self-checkout which is...

Words: 1829 - Pages: 8

Premium Essay

Energy Resource Challenges

...Week Eight Checkpoint Energy Resource Challenges SCI/275 Cindy Walker Conserving energy is a key factor in the improvement of the planet in which we live. I practice conserving energy by doing little things such as turning lights off when I leave the room and turning the heat or the air conditioner down a little lower than I normally would. I believe if everyone in the world would take these little steps we can make a momentous impact on the environment. Natural gas and oil are the most common natural resources used to run our homes efficiently. Consequently, these natural resources can and will run out in the future if we do not begin to conserve today. I have challenged myself to reduce the size of the ecological footprint which I put on the earth. I am proud to say that I am a recovering shopaholic. You see, I am a mother of three little girls and love for them to look their best at all times. So, I would go out and buy them new clothes for just about every occasion. During this time I thought I was being resourceful by purchasing cheap trendy clothes for them to wear instead of the more expensive higher quality clothing. However, after completing an environmental science course, I realized I wasn’t being resourceful; instead I was being quite wasteful. I realized that buying a large amount of cheap trendy clothes was costing me more money and creating more trash than buying higher quality clothing. I noticed that the cheap clothes could only be worn a couple...

Words: 503 - Pages: 3

Free Essay

Physical & Technological Resources

...Resource | Description | How each resource can be used by the Mayflower Theatre | Buildings and facilities | The location of where a business operates. Every business needs some form of building to work in. It can range from a small office in a web based company to a massive warehouse for a company like Wilton Bradley Ltd. | They have a grade 2 listed building in which the theatre is located. | Materials & Waste | The type of materials depends on what type of business it is. Some businesses choose to help the environment by only having recyclable materials (paper, energy etc.). Waste is what isn’t needed therefore removed from the area. | The materials used by the Mayflower Theatre are things like paper, electricity for lighting and computers etc. These are all used when tickets are bought, profit is counted and throughout the day when the theatre needs lighting. | Plant & Machinery | These are the items used for physical movement in businesses. Anything needed to be moved or removed would be done by a piece of machinery which could be of any size. | The Mayflower Theatre uses things like fork lift trucks to move larger equipment on and off of the stage. They also have electrical testing equipment which are used for safety reasons. | Equipment Including IT | The things used by every business come under the equipment category. Things like pens and computers are all equipment used by businesses. | Computers are in the Mayflower Theatre which are all used daily...

Words: 796 - Pages: 4

Free Essay

Resources Analysis

...processes are coming along. It has been brought to my attention that we may encounter some resource concerns with this global launch. The fabrics we use domestically cannot be shipped or exported so we need to address this concern. As far as textiles go we will need to look into alternatives for the Italy global expansion. Seen there are various concerns with resources that often come up with global expansion we will need to look into and address them all during this briefing. One of our board members use to run a textile plant in China so we will see if they still have contacts and that very well could solve and address our textile issues but not the others we may face. II. Global Strategy concerns for Resources The global expansion of a business opens untapped opportunities for the organizations growth especially in markets that are emerging and or contain fast-growth. With the opportunities that global expansion brings it also has a particular set of challenges associated with it; changes such as market-entry strategy, supply chain sourcing, building a consumer base, and manufacturing. On top of all of this you need to add financing, taxation, human resources, textiles, technology (where needed), natural resources, managerial resources considerations and so on. It becomes trickier and trickier. So let’s discuss some of the concerns we need to address with global strategy and available resources in Italy (Global Economic Symposium, 2015). i. Textiles When it comes to the textiles...

Words: 1261 - Pages: 6

Free Essay

Natural Resources

...Activities Involved In the Conservation of Natural Resources Introduction The energy consumption of western cities' households stands at about one-third. Energy is a very good example of a natural resource. In as much as it is surprising, efforts have been made since the 21st century to try and conserve these natural resources (Montana Conservation Council, 1956, p. 12). The essay seeks to discuss how some of the activities carried out have been used to promote resource efficiency and sustainable management of natural resources. The essay seeks to detail information on some of the case studies depicting the impacts of these activities. Promotion of Energy Efficient Bulbs The energy efficient bulbs are energy economical due to its insignificant consumption of electricity. According to the results obtained by conducting a series of tests, the bulb converts about 80 percent of the electrical power to light energy. The other 20 percent is therefore converted to other forms of energy such as heat. When compared to traditional bulbs, the results were opposite to having 80 percent of the energy wasted by being converted to other forms while 20 percent being converted to light energy. Adoption of Renewable Energy One of the ways adoption of renewable energy has contributed towards the conservation of natural resources is through enhancing energy security. When one looks at some of the renewable sources of energy such as solar, wind and geothermal, all these sources provide viable...

Words: 308 - Pages: 2

Free Essay

Renewable Resources

...Natural resources are resources that exist without the actions of humankind. This includes all valued characteristics such as magnetic, gravitational, and electrical properties and forces. On earth we include sunlight, atmosphere, water, land, air(includes all minerals) along with all vegetation and animal life that naturally subsists upon or within the heretofore identified characteristics and substances.[1][2][3][4] Particular areas such as the rainforest in Fatu-Hiva are often characterized by the biodiversity and geodiversity existent in their ecosystems. Natural resources may be further classified in different ways. Natural resources are materials and components (something that can be used) that can be found within the environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as fresh water, and air , as well as a living organism such as a fish, or it may exist in an alternate form which must be processed to obtain the resource such as metal ores, mineral oil, and most forms of energy. There is much debate worldwide over natural resource allocations, this is particularly true during periods of increasing scarcity and shortages (depletion and overconsumption of resources) but also because the exportation of natural resources is the basis for many economies (particularly for developed countries). Some natural resources such as sunlight and air can be found everywhere, and are known...

Words: 2022 - Pages: 9

Free Essay

Student Resources Worksheet

...University of Phoenix Material Student Resources Worksheet Resources provided by University of Phoenix can contribute to your academic, personal, and professional success. Support resources include a variety of helpful websites and tools that can assist you in completing assignments, connecting to other students, and searching for careers. Instructions Complete the following Scavenger Hunt Matrix regarding student resources provided by the university. In the first column, list the steps used to locate each resource. In the second column, explain how each resource might contribute to your success. Scavenger Hunt Matrix |Student resource |List the specific steps you used to locate |Explain how you can use each resource to support your | | |each resource. |academic, career, or personal success. | |Course syllabus |Home Page |Outline of material to be cover in a training course. | | |Syllabus | | |Academic policies |Home Page |Reminder of the rules on attendance, and assignment. | | |Class Home | | ...

Words: 307 - Pages: 2

Premium Essay

Resource Management

...Resource Management Strategies Name Professor Institution Course Date Introduction The strategies refer to the process of executing a strategy for implementing essential management objectives for managing and allocating resources. The strategies involve approaches and move patterns devised by a grouping to produce achieving organization performances. As such, it is a resource commitment to accomplishing precise objectives for justifiable benefits in the market. An outstanding strategy is insignificant pending execution. Accordingly, execution requires appropriate resources, role flexibility, and infrastructure. Consequently, strategic management ought to finish with the concluding yearly planning meeting even though periodic monitoring and execution are necessary. As such, the process commences with an apparition of wherever the organization should head. An unsurpassed means of accomplishing the desired outcomes will be making sure that the procedure chosen to guide the planning efforts is comprehensive. The hardest parts include committing resources, creating time, addressing and uncovering the obstacles even though the process is controllable. The human resources of an organization are probably its mainly fundamental ingredients for achievement. Devoid of employees, the majority of commercial ventures would stop existing. Accordingly, strategic management entails strategic utilization of resources in order to meet purposes. The HRM encompasses the capacity of making...

Words: 1930 - Pages: 8

Premium Essay

Business Resources

...Business 4 Unit 4 [pic] Human Resources By the end of this unit you will understand: ❖ The role of the Human Resources Department ❖ The culture of an organisation ❖ Organisational structures ❖ Working practices available to employees within different types of businesses ❖ The recruitment process ❖ Contract of Employment ❖ Appraisal Part 1 – Human Resources The role of the Human Resources Department The human resources (HR) department is responsible for managing the staffing of an organisation. These responsibilities including hiring new staff (recruitment), providing staff training, carrying out staff appraisal and any other issues relating to staff welfare. The staff in this department will usually have some knowledge of employment law and will be able to advise the organisation in this area. Organisational Culture Different organisations operate in different ways. Some organisations operate in a formal way, whereas others are more relaxed. In the past, the culture of an organisation has been described as ‘The way things get done around here’. While one culture may work for one organisation, a different culture may work for another. It is, however, important that everyone working for that organisation understands, and works well within, the culture of that organisation. TASK 1 Like many organisations, schools have a set of values and everyone in the...

Words: 4192 - Pages: 17