Strengths, Weaknesses, Opportunities, and Threats
Resources (or capabilities)
The tangible and intangible assets a firm uses to choose and implement its strategies
Tangible resources and capabilities
Assets that are observable and easily qualified
Intangible resources and capabilities
Assets that are hard to observe and difficult (if not impossible) to quantify
A series of activities used in the production of goods and services that make a product or service more valuable
Examining whether a firm has resources and capabilities to perform a particular activity in a manner superior to competitors
A process of market competition through which unique products that command high prices and high margins gradually lose their ability to do so, thus becoming commodities
Turning over an organizational activity to an outside supplier that will perform it on behalf of the local firm
Outsourcing to an international or foreign firm
Outsourcing to a domestic firm
Setting up subsidiaries abroad so that the work done is in-house but the location is foreign. Also known as foreign direct investment (FDI)
The resource-based framework that focuses on the value (V), rarity (R), imitability (I), and organizational (O) aspects of resources and capabilites
The difficulty of identifying the actual cause of a firm's successful performance
The combination of numerous resources and assets that enable a firm to gain a competitive advantage
The socially intricate and interdependent ways that firms are typically organized
What are some example of tangible resources?
- Financial
- Physical
- Technological
What are some examples of intangible resources?
- Human
- Innovation
- Reputational
Why is benchmarking important?
Benchmarking enables your organization or your work area to identify how good you could be. It then requires that you take action to become at least as good as the best
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journal article
Is the Resource-Based "View" a Useful Perspective for Strategic Management Research? YesThe Academy of Management Review
Vol. 26, No. 1 (Jan., 2001)
, pp. 41-56 (16 pages)
Published By: Academy of Management
//doi.org/10.2307/259393
//www.jstor.org/stable/259393
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Abstract
Here I examine each of the major issues raised by Priem and Butler (this issue) about my 1991 article and subsequent resource-based research. While it turns out that Priem and Butler's direct criticisms of the 1991 article are unfounded, they do remind resource-based researchers of some important requirements of this kind of research. I also discuss some important issues not raised by Priem and Butler-the resolutions of which will be necessary if a more complete resource-based theory of strategic advantage is to be developed.
Journal Information
The Academy of Management Review, now in its 26th year, is the most cited of management references. AMR ranks as one of the most influential business journals, publishing academically rigorous, conceptual papers that advance the science and practice of management. AMR is a theory development journal for management and organization scholars around the world. AMR publishes novel, insightful and carefully crafted conceptual articles that challenge conventional wisdom concerning all aspects of organizations and their role in society. The journal is open to a variety of perspectives, including those that seek to improve the effectiveness of, as well as those critical of, management and organizations. Each manuscript published in AMR must provide new theoretical insights that can advance our understanding of management and organizations. Most articles include a review of relevant literature as well. AMR is published four times a year with a circulation of 15,000.
Publisher Information
The Academy of Management (the Academy; AOM) is a leading professional association for scholars dedicated to creating and disseminating knowledge about management and organizations. The Academy's central mission is to enhance the profession of management by advancing the scholarship of management and enriching the professional development of its members. The Academy is also committed to shaping the future of management research and education. Founded in 1936, the Academy of Management is the oldest and largest scholarly management association in the world. Today, the Academy is the professional home for more than 18290 members from 103 nations. Membership in the Academy is open to all individuals who find value in belonging.
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