RESOURCES

Question 1

WHAT IS COMPETITIVE ADVANTAGE

Answer 1

SOMETHING THE COMPANY HAS OR DOES THAT WILL GIVE AN ADVANTAGE OVER ITS RIVALS

Question 2

WHAT ARE THE TYPES OF COMPETITIVE ADVANTAGE?

Answer 2

COST ADVANTAGE - WHEN THE COMPANY SELLS SIMILAR PRODUCTS, BUT FOR A LOWER PRICE
DIFFERENTIATION ADVANTAGE - WHEN THE COMPANY SELLS UNIQUE PRODUCTS FOR A HIGHER PRICE

Question 3

DEFINE RESOURCES AND THEIR ROLE IN FIRM’S SUCCESS

Answer 3

RESOURCES ARE HUMAN, FINANCIAL, PHYSICAL AND KNOWLEDGE FACTORS THAT PROVIDE A FIRM THE MEANS TO PERFORM.
THE MAIN ROLE IS TO INFLUENCE IN THE COMPANY’S STRATEGIC CHOICE.

Question 4

WHAT AR TANGIBLE AND INTANGIBLE RESOURCES

Answer 4

TANGIBLE RESOURCES ARE PHYSICAL ASSTES A COMPANY’S OWNS (RAW MATERIAL, EQUIPMENT, LAND)
INTANGIBLE ASSETS ARE THE TECHNOLOGIES, REPUTATION AND CULTURE THAT THE FIRM HAS

Question 5

WHAT ARE CAPABILITIES?

Answer 5

ARE A COMBINATION OF PEOPLE, PROCESSES AND ASSETS USED TO TRANSFORM INPUTS IN OUTPUTS

Question 6

NAME THE ORGANIZATIONAL CAPABILITIES?

Answer 6

ORGANIZATIONAL COMPETENCE ( THE CAPACITY TO PERFOM AN ACTIVITY)
ORGANIZATIONAL CAPABILITY ( IS AN INTERNAL CAPABILITY THAT IS PERFORMED BETTER THAN ANOTHER INTERNAL CAPABILITY)
CORE COMPETENCE ( IS A WELL PERFORMED CAPABILITY THAT IS CENTRAL TO THE ORGANIZATION’S STRATEGY)
DISTINCTIVE COMPETENCE ( IS A CAPABILITY THAT IS PERFORMED BETTER THAN THE COMPANY’S RIVAL)