BU481 Lecture Notes - Lecture 7: Financial Capital, Resource-Based View, Competitive Advantage
Document Summary
Chapter 6 resource analysis: the strategy-resource linkage. Dual role of company resources: resources, fuel: assets required for business to function, potential sources of strategic competitive advantage. Resources types: tangibles, marketing ads, operations factory, financial capital, human, locations intangible, brand reputation, organization capabilities routines, processes, abilities, culture. Strategic resource non-tradable assets which develop and accumulate within the firm and which are valuable in the industry. Competitive advantage what its source but it could be a valuable resource that enables the company to perform activities better or more cheaply than competitors. General manager: resources management three key tasks of manager related to resources: 1. ) Finding/investing in resources: 2. ) upgrading resources, 3. ) leveraging resources. Internal perspective of firm: way of explaining why some competitors are more profitable than others, suggests how to put idea of core competencies into practices, helps develop strategies that make sense depending on what you already have/can get.
