COMMERCE 4PA3 Chapter Notes - Chapter 6: Product Market, Social Complexity, Resource-Based View
1 Feb 2021
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Resources provide your business with the potential to act. To execute a strategic proposal you will need to draw on financial resources for the required investment, operating resources to supply the product or service, marketing resources for promotion and sales, and so on. Three important points need to be made about the nature of resources as they relate to strategic choice. The first is that the adequacy of a resources is relative to the demands of your strategic proposal. Consider how your resources compare to your competitors" A second noteworthy characteristic is that certain resources are more or less easy to augment or to adapt to meet the requirements of a proposal. Essential to ask whether each resource supports the proposed strategy or no. Final notable characteristic is that the value of particular resource tends to be context specific and, additionally, is more or less transferable to new applications. Resources have primary uses as well as other uses.
