Evaluate The Importance Of Resources And Capabilities In Achieving Competitive Advantage Case Study
Evaluate the importance of resources and capabilities in achieving competitive advantage. Illustrate your arguments with real cases and examples?
Winning business strategies are able to maintain competitive advantage. A company has competitive advantage over its rival when it has an edge over rivals in attracting the customers and protecting against competitive forces. There are many ways to achieve competitive advantage, but the most traditional one is through a company’s internal resources and capabilities. An organization will be able to identify its internal strategic factors and critical strengths and weaknesses which will determine whether the organization will be able to take advantage of opportunities it has got while avoiding threats.
…show more content…
Café Coffee Day: I would like to add this coffee chain which is from India which I believe has a competitive advantage over other brands in India as they are located all over India mostly on the Highways and provide quality coffee and a nice ambience to rest while travelling long journeys and their prices are cheap compared to Barista or Starbucks as they have a advantage that is what ever coffee they sell the it comes from their own Coffee plantations which is in Chickmangluru in Karnataka, India so this is how they enjoy competitive advantage in India.
Conclusion:
From the research I learned how important are resources and capabilities are to an organization, and how they influence in achieving competitive advantage over others and I also understood that how models like VRINE help in prioritizing and picking on the right resources to gain competitive advantage.
It is very important that the organizations should be aware of their resources as most of the organizations are not aware and don’t use them then the competitors will make use it and talking about the capabilities, if a organization feels that they are not working hard in order to make use of their resources to the fullest then they should undergo training which will make them capable
Lockheed Martin Case Analysis
1090 Words | 5 PagesBusiness Assessment An organization must identify its core competencies and strategically align those competencies with its business objectives to achieve success. In fact, C.K. Prahalad and Gary Hamel explained in the Harvard Business Review that the most powerful way for an organization to prevail is for it to “identify, cultivate, and exploit the core competencies that make growth possible” (2000). Lockheed Martin has thoroughly aligned its competencies, business objectives, and key performance indicators, which has undoubtedly contributed to the corporation’s effectiveness.
Trader Joe's Case
1669 Words | 7 PagesAccording to Barney (1991), a firm can be said to possess competitive advantage when it achieves superior performance over its competitors by implementing a value-creating strategy that is not simultaneously being implemented by a competitor. TJ is Barney differentiates simple competitive advantage from sustainable competitive advantage, which is more durable because existing or future competitors cannot duplicate the benefits of the company’s strategy. Recommendations and
The Kroger's Corporate Level Strategy
253 Words | 2 PagesIn the review of the corporate level strategy, we can see many different competitive advantages branching from their use of corporate diversification and vertical integration. Going deeper into those strategies the three elements that allow for a competitive advantage for The Kroger Co. include operating into different markets, having a successful customer reward program, and by having many different locations nationwide under many different brand names. The VRIO analysis found that all three of these give Kroger’s a sustainable competitive advantage by being valuable, rare, costly to imitate and having the right organization structure business wide. In the review of the business level strategy, there were just as many different competitive
Premier Inn Swot Analysis
1718 Words | 7 PagesResources and Capabilities VRIO Framework V R I O Competitive Implication Strong corporate culture + + + + Sustainable competitive advantage Strong investment in R&D + + + + Temporary competitive advantage Outstanding customer service + + + + Sustainable competitive advantage
United Airlines Market Segmentation
1027 Words | 5 PagesThe first two letters in the acronym i.e., S (strengths) and W (weaknesses) are referred to as internal factors, which means the resources and experiences that are available to the organization. Examples of areas generally considered
Business Analysis: Costco's Business Strategy
905 Words | 4 PagesCapabilities are complex skills or ability that a firm develops with time to perform business operations competently and utilize their resource effectively. Costco earned reputation for serving highest quality regional and national brand goods for the lowest possible prices. This reputation is the biggest resource for Costco. Also, Costco has strong financial resources that
Costco's Competitive Strategies
729 Words | 3 PagesWhat are the two types of core competencies that drive a firm’s competitive advantage? Which firms demonstrate a clear competitive advantage because of (a) major value-creating skills/core capabilities and/or (b) superior assets or resources? Which firms have demonstrated sustainable sources of competitive advantage? The two core competencies that drive a firm’s competitive advantage are cost leadership and differentiation.
Zara Core Competencies
3756 Words | 16 PagesThey have achieved such a success based on the way they have organized their operations. Competencies are very important for an organization to build up on their own. Competencies can be of two aspects namely core competencies and threshold competencies. A core competence can be identified as a unique set of skills or production techniques that deliver a particular value to the customer. A threshold competence can be identified as a quality that need to maintain by the organization in order to remain competitive in the market (Rohwedder & Johnson,
Summary Of Coca-Cola Market Segmentation
1631 Words | 7 PagesThis can be achieved through many avenues including offering a better-quality product or service, lowering prices and increasing marketing efforts. Sustainable competitive advantage refer to maintaining a favorable position over the long term, which can help boost a company’s image in the marketplace, its valuation and its future earning potential. Competitive advantage occurs when an organization acquires or develops an attributes or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources, such as high grade ores or inexpensive power or access to highly trained and skilled personnel human resources. New technologies such as robotics and information technology can provide competitive advantage whether as a part of the product itself as an advantage to the making of the product or as a competitive aid in the business process for example better identification and understanding of
Walt Disney Competitive Advantage
975 Words | 4 PagesCompetitive advantage is when two or more firms compete within the same markets, one firm possess a competitive advantage over its rival when it earns (or has potential to earn) a persistently higher rate of profit. There are three types of competitive advantage. a) Cost leadership strategy occurs when a firm a delivers the same services as its rivals but at a lower price. b) The differentiation strategy occurs when a firm delivers greater services for the same price of its rivals. c) Focus strategy is a focused approach requires the firm to concentrate along one specific segment either a cost leadership or a specialization strategy.
Value Chain Analysis Of Unilever
976 Words | 4 PagesHowever, at the evaluation the unique resources and competencies are capable to deliver the value proposition of the company. It is much difficult in identifying the recognizing driven business capabilities in terms of attaining competitive advantage. The VRIO model is used analyze firm’s internal resources and capabilities to find out if they can be a source of sustained competitive
Starbucks Value Proposition
1586 Words | 7 PagesAs the competitive advantage of the company is to differentiate by delivering a unique customer experience by focusing on those four aspects Starbucks ensures that their process deliver their value proposition. The key aspect of their operations in store relates to personalisation and customisation of products as well
Ethical Issues In Starbucks
831 Words | 4 PagesEthical issue in Starbucks Starbucks, an American coffeehouse chain based in Seattle, Washington, is the world largest coffee retailer chain in the world having more than 21,000 stores in 65 countries (Starbucks website, n.d.). In United States, Starbucks owned 12,973 stores (Starbucks Company Statistics, 2014), which is more than 73% of the market shares of the United States coffeehouse industry. Hence, Starbucks possesses monopoly power in the specialty coffee market. Enjoying monopoly position, Starbucks plan to completely dominate the market by eliminating competition. Starbucks engages in a range of anti-competitive activities.
Case Study Analysis: Zara Fast Fashion
1715 Words | 7 PagesResource based view is the tool that is used in order to evaluate the resources that are important for the organisation to make their performance effective. It is regarded as a significant approach that is used by the organisation towards attainment of competitive advantage. The aim of this paper is to evaluate the resource based view literature and then applying the knowledge on the evaluation of a case study organisation. The selected organisation is Zara Fast Fashion, which is analysed with the help of use of RBV towards achievement of sustainable competitive advantage. The theoretical concepts of the resource-based view is analysed and applied on Zara as a real world example.
Four Building Blocks Of Competitive Advantage
1014 Words | 5 PagesThe four building blocks of competitive advantage can be used to help a company become more profitable and stay ahead of their competition. The four factors are superior efficiency, quality, innovation, customer responsiveness. All four building blocks are important to any company. However, I believe that customer responsiveness is the most important because having loyal and happy customers can make or break any company. The four building blocks can help companies grow and become the leader in their industry over their rivals.
More about Evaluate The Importance Of Resources And Capabilities In Achieving Competitive Advantage Case Study
Lockheed Martin Case Analysis
1090 Words | 5 PagesTrader Joe's Case
1669 Words | 7 PagesThe Kroger's Corporate Level Strategy
253 Words | 2 PagesPremier Inn Swot Analysis
1718 Words | 7 PagesUnited Airlines Market Segmentation
1027 Words | 5 PagesBusiness Analysis: Costco's Business Strategy
905 Words | 4 PagesCostco's Competitive Strategies
729 Words | 3 PagesZara Core Competencies
3756 Words | 16 PagesSummary Of Coca-Cola Market Segmentation
1631 Words | 7 PagesWalt Disney Competitive Advantage
975 Words | 4 PagesValue Chain Analysis Of Unilever
976 Words | 4 PagesStarbucks Value Proposition
1586 Words | 7 PagesEthical Issues In Starbucks
831 Words | 4 PagesCase Study Analysis: Zara Fast Fashion
1715 Words | 7 PagesFour Building Blocks Of Competitive Advantage
1014 Words | 5 Pages