L4: Resources and Capabilities : intro to resources-based view of org

Question 1

value chain within companies

Answer 1

primary activities and support activities which support the primary ones

Question 2

success of companies in a not very profitable industry

Answer 2

• dwells in the internal drivers of the org
• core competences
• value chain within companies

Question 3

system =

Answer 3

= an interconnected and coordinated set of elements and processes that converts inputs into desired outputs

Question 4

meaning of system for companies

Answer 4

inputs bought flew through different functions of the org (value chain) to add value and produce outputs

Question 5

how is value added, how can the functional areas work together to add value to the input material?

Answer 5

resources = key elements which help the firm to transform inputs into outputs

Question 6

resources on which a firm can rely

Answer 6

• know how
• capital
• labor
• environment
• time

Question 7

resources def

Answer 7

assets that org have or can call upon, that is “what we have”

Question 8

capabilities def + eg

Answer 8

= competences
= ways those assets are used or deployed, that is “what we do well”
eg: physical, human and financial

Question 9

core competencies

Answer 9

= resources + cap
support the generation and preservation of a sustainable competitive advantage over time
must be honed to a user need (unique (for priced in competition) + difficult to replicate)

Question 10

core competencies criteria to achieve sustainable competitive advantage

Answer 10

• value
• rare
• inimitable
• robust
• non substituable

Question 11

valuable core competencies

Answer 11

• take advantage of opportunity and neutralize threats
• provide value to customers
• are provided at a cost that still allows an org to make an acceptable benefit from it

Question 12

rare core competencies + eg

Answer 12

those possessed uniquely by an org or by only a few others
could be temporary
eg: patented products, pwful brand

Question 13

inimitable core competencies

Answer 13

difficult and costly to imitate, to obtain or to substitute
- casual ambiguity (characteristics or linkage : lack of understanding of cause and effect interaction btw resources and competitive advantage)
- complexity (internal + external linkage)
- culture and history

Question 14

robust core competencies

Answer 14

an org must be suitably organized to support the core competencies, including appropriate processes and sytems

Question 15

non substituable

Answer 15

it exists no strategically similar resource available which can be leveraged by another competitor

Question 16

dynamic capabilities

Answer 16

as a means of adapting to the environment as well as the evolution of the market forces
concentrate on combining, developing, reconfiguring old and new knowledge

Question 17

dynamic capabilities attributes

Answer 17

• sensing = analyzing new opportunities across markets and technologies
• seizing = seize the opportunity by launching new products, processes and activities
• reconfiguring = renewing + reconfiguring capabilities and investment in new technologies for the purpose of new products and processes

Question 18

organizational knowledge

Answer 18

= org-specific, collective intelligence accumulated through both formal systems and people’s shared experience

Question 19

tacit knowledge =

Answer 19

= more personal, hard to formalize and imitate

Question 20

explicit knowledge

Answer 20

transmitted in formal systematic ways (books…)

Question 21

benchmarking

Answer 21

a means of understanding how an org compares with others

Question 22

2 approaches of benchmarking

Answer 22

• industry/sector benchmarking : compare perf ag other org in the same industry/sector
• best-in-class benchmarking : compare perf or capabilities against best-in-class

Question 23

SWOT analysis

Answer 23

used to determine and define strengths, weaknesses, opportunities and threats for an org, therefore to evaluate its competitive position and develop strategic planning thank to the use of a TOWS matrix

Question 24

dangers of a SWOT analysis

Answer 24

• need of prioritizing
• don’t over generalize
• it should result from detailed analysis (PESTEL..)
• end in itself, not a guide strategy