lecture 3 strategic assets and resources Flashcards
1
Q
What are 3 examples of strategic assets?-
A
-Natural monopolies
-Barriers to entry
-licensing and regulation
2
Q
What are resoruces?
A
reputation/ brand
Management and governance structure - how good are the managers
Patents/Expertise - innovation r and d.
3
Q
What is repuation?
Why is it valuable?
A
Repuation signals quality when quality not observed, more likely to risk the purchase
They have to take a risk
they have to experimeny
Takes time to appreciate
Extremely costly to build up and quick to be lost.
-Reputation allows firms to maintain dominance in traditional markets.
