Lecture 3

Resource-based view (RBV) of strategy states that & of an organisation are explained by of its . It is sometimes also called ‘’.

Resource-based view focuses on how differ from within an industry & can industry average &

Resources & capabilities of an organisation contribute to its & potentially to

Resources- that organisations or can , which is ‘’

Capabilities- Refers to what an or is able to do at starting level of , based on potential accumulated

Competences- Ways those are used , which is ‘’

Resource-based view argues environment is subject to , capabilities offer more basis for & capabilities are primary source of

Dynamic capabilities- Refers to by which an has ability to & its strategic capabilities to meet of

One generic dynamic capabilities is . This involves constantly & new opportunities across &

Another generic dynamic capabilities is . This involves addressing through new , &

Third generic dynamic capabilities is . New products & processes may require & of capabilities & in new technologies in future

Threshold capabilities- Those needed for an organisation to meet requirements to in given & achieve equivalence with in that – 'qualifiers'

Distinctive capabilities- Those that are required to achieve . Distinctive or unique capabilities that are of to customers & which find difficult to – 'winners'

Core competences are linked set of , & that, together deliver , business from its & potentially, can be extended & as markets change or new opportunities

VRIO- Four key criteria by which can be assessed in terms of providing for achieving

V of VRIO is . This involves taking advantage of & neutralising , providing to customers & products being provided at that still allows an organisation to make an acceptable

R of VRIO is . This refers to that are possessed uniquely by organisation or only by others. Also, could be temporary

I of VRIO is . advantage is more often found in (way resources are , & ) & way competences are together & integrated. This can determine whether can imitate or not. Also, it involves casual , , &

O of VRIO is . This involves organisation being suitably to support , & capabilities that it has. This includes appropriate &

VRIO analysis helps to if, how & to what extent an organisation or company has & that are , , & supported by

Two critiques of the resource-based view is it may be (using words or phrases that express same meaning) &

To understand competitive advantage of business, business needs to use . describes categories of within an organisation which, together, create or . consists of five primary (directly concerned with creation or delivery of or ) & four support (which help to improve or of primary activities)