BUS 010 Lecture Notes - Lecture 9: Moe Williams, Swot Analysis, Resource-Based View
Document Summary
Putting resource & capability analysis to work: a practical. Step 1: identifying the key resources & capabilities. From an external focus, we begin with key success factors (e. g. low cost production: what resources and capabilities do these success factors imply? (e. g. manufacturing capabilities) Resources and capabilities need to be appraised against 2 key criteria: importance, which are most important in conferring competitive advantage, strengths & weaknesses, relative to competitors. Consider our ultimate objective when assessing importance; objective is not to attract customers, but to make superior profit through establishing a sustainable competitive advantage. Must identify and appraise looking both inside and outside a firm. In assessing competencies, organizations frequently fall victim to past glories, hopes for the future, and wishful thinking. Benchmarking is a powerful method to move from the subjective level to the objective level. Appraising resources and capabilities is not about data, it"s about insight and understanding.
