Chap. 4 Flashcards
Primary Resources
the tangible and intangible assets as well as human resources that a firm uses to choose and implement its strategies
Capability
firm-specific abilities to use resources to achieve organizational objectives
Tangible Assets
assets that are observable and easily quantified
Intangible Assets
assets that are hard to observe and difficult (or sometimes impossible) to quantify
Human Resources
resources embedded in individuals working in an organization
Organizational Culture
employees’ shared values, traditions and social norms within an organization
Value Chain
a chain of activities vertically related in the production of goods and services
VRIO Framework
the resource-based framework that focuses on the value creation (V), rarity (R), imitability (I), and organizational (O) aspects of resources
Casual Ambiguity
the difficulty of identifying the casual determinants of successful firm performance
Social Complexity
the socially complex ways of organizing typical of many firms
Appropriability
the ability of the firm to appropriate the values for itself
Benchmarking
an examination of resources to perform a particular activity compared against competitors
Outsourcing
turning over an organizational activity to an outside supplier that will perform it on behalf of the firm
Offshoring
moving an activity to a location abroad
Offshore Outsourcing
outsourcing to another firm doing the activity abroad
