Chapter 4 Flashcards
are any ASSET that a company can draw on when
crafting and executing a strategy
RESOURCES
physical resources such as cash, plant/machinery, etc
Tangible resources
non-physical resources that can be difficult to
quantify such as patents, trademarks, copyrights, trade secrets, reputation,
etc.
Intangible resources
are organizational and managerial SKILLS
necessary to strategically manage a diverse set of resources
CAPABILITIES
are unique STRENGTHS embedded
within a firm (things your firm is good at)
CORE COMPETENCIES
are distinct and fine-grained business
processes
FIRM ACTIVITIES
views resources as key to
superior firm performance
The RESOURCE-BASED VIEW (RBV)
each firm has different sets of resources
Resource Heterogeneity
—resources can’t be easily moved between firms
Resource Immobility
describes the internal activities a firm
engages in when transforming inputs into outputs
The VALUE CHAIN
add value directly as the firm transforms inputs to
outputs
Primary Activities
add value indirectly by supporting each of the
primary activities
Secondary Activities
is a framework for understanding how insights
from both INTERNAL and EXTERNAL ANALYSES can be synthesized
SWOT ANALYSIS
Strengths and weaknesses are _____ to a firm
INTERNAL
Opportunities and threats are _____ to a firm
EXTERNAL
