Topic 2 Flashcards
Internal Analysis - The RBV
1
Q
What does VRIO mean?
A
V - Value R - Rareness I - Inimitable O - Well Organised
2
Q
What is a VRIO test?
A
It is a test for the ability of resources and capabilities to create profits and sustained competitive leadership (sustained competitive advantage SCA).
3
Q
What are Strategic Capabilities?
A
They are capabilities that are: -Valuable -Rare -Inimitable (Unique or hard to replicate) -Well Organised
4
Q
What are Dynamic Capabilities
A
They are strategic capabilities that are: -Valuable -Rare -Inimitable (Unique or hard to replicate) -Well Organised and can be reorganised, developed combined with other capababilities to form new strategic capabilities
5
Q
What is the difference between a Mission Statement and a Vision Statement?
A
