MGMT 4000 Chapter 5: 5. Chapter 5
Document Summary
A resource-based approach to organizational analysis vrio. In order for organization to thrive, senior leadership team must look within corporation itself to identify internal strategic factors. Core and distinctive competencies: resources are organization"s assets and are thus the basic building blocks of the organization. If answer to above is yes, then it is considered a strength. It is important to evaluate importance of company"s resources, capabilities, and competencies to ensure they are internal strategic factors this can be done by comparing these factors with measures of: company"s past performance, company"s key competitors. Value chain analysis: linked set of value-creating activities that begin with basic raw materials coming from suppliers, moving on to a series of value added activities, value chain for manufactured product, raw materials, primary manufacturing, fabrication, distributor, retailer. Inbound logistics: operations, outbound logistics, marketing and sales, service, supporting activities, firm infrastructure, human resource management, technology development, procurement.