Chapter 4 Flashcards
Resource-Based View
a leading perspective in global business that posits that firm performance is fundamentally driven by firm-specific resources
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 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: Value-Creation, Rarity, Imitability, & Organizational
Casual Ambiguity
the difficulty if identifying the casual determinants of successful firm performance
Social Complexity
the socially complex ways of organizing
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
Domestic Outsourcing
outsourcing to a firm in the same country
Captive Offshoring
setting up subsidiaries abroad - the work done is in-house but the location is foreign
Nearshoring
offshoring to a nearby location
Organizational Equipment Manufacturer (OEM)
a firm that executes the design blueprints provided by other firms and manufactures such products
Original Design Manufacturer (ODM)
a firm that both designs and manufactures products
Original Brand Manufacturer (OBM)
a firm that designs, manufactures and markets branded products
Dynamic Capabilities
higher level capabilities that enable an organization to continuously adapt to new technologies and changes in the external environment
