BU481 Lecture Notes - Lecture 9: Human Resources, Walkman, Path Dependence
Document Summary
The dual role of company resources: sources of competitive advantage, long-term and sustainable competitive advantage, fuel assets required for business to function, strategic resources. Internal look at the company: assets that develop within the firm. Resource types: tangible, human resources, equipment, marketing (ads, financial 18739 Intangible: reputation, brand name, relationships internal and external, organizational capabilities, routines, abilities, culture. Resource-based strategy: deploy capabilities to , boost competitive power of their overall strategy, bolster their position in the marketplace, why is the resource-based view (rbv) useful, different strategies require different resources, low-cost and differentiation requires different resources and capabilities. Keep industry/context in mind: a resource valuable right now or in a particular industry might not hold that same value at another point in time or in a different industry, ex. Diamonds aren"t rare but it"s made to be rare: rarity. Inimitability: difficult or hard to copy, organized to exploit the resource.
