Week 3 - Ch. 4 Flashcards
resources and capabilities
contribute to an organization’s long-term survival and potentially to competitive advantage.
Threshold resources and capabilities
those that are needed for an organization to meet the necessary requirements to compete in a given market and achieve parity with competitors in that market
Distinctive resources and capabilities
are required to achieve competitive advantage
Organisational Knowledge
the collective intelligence, specific to an organization, accumulated through both formal systems and the shared experience of people in that organization
Value Chain
describes the categories of activities within an organization which, together, create a product or service
Value System
comprises the set of inter-organizational links and relationships that are necessary to create a product or service
Dynamic capabilities
an organisation’s ability to renew and re-create its strategic capabilities to meet the needs of changing environments
inimitable resources and capabilities
are those resources and capabilities that competitors find difficult and costly to imitate or obtain or substitute
profit pools
the different levels of profit available at different parts of the value network
rare resources and capabilities
are those resources and capabilities that are possessed uniquely by one organization or by a few others
resource-based view
states that the competitive advantage and superior performance of an organization is explained by the distinctiveness of its capabilities
valuable resources and capabilities
are those which create a product or a service that is of value to customers and enables the organization to respond to environmental opportunities or threats
VRIO analysis
helps to evaluate if, how and to what extent an organization or company has resources and capabilities that are (i) valuable, (ii) rare, (iii) inimitable and (iv) supported by the organization
