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18 Cards in this Set
- Front
- Back
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SWOT |
An analytical tools for determining a firm's Strength Weakness Opportunities Threats |
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Resource capability |
The tangible and intangible assets a firm uses to choose and implement its strategies |
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Tangible resources and capabilitiy |
Assets that are observable and easily quantified |
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Intangible resource and capability |
Assets that are hard to observe and difficult (if not impossible) to quantify |
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Value Chain |
A series of activities used in the production of goods and services that make a product or service more valuable |
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Benchmarking |
Examining whether a firm has the resources and capabilities to perform a particular activity in a manner superior to competitors |
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Commodiation |
A process of market competition through which unique products that command high prices and high margins gradually lose their ability to do so, thus becoming commodities |
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Outsourcing |
Turning over an activity to an outside suppliers that will perform it on behalf of the focal firm |
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Offshoring |
Outsourcing to an international or foreign firm |
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Onshoring |
Outsourcing to a domestic firm |
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Captive Sourcing |
Setting up subsidiaries abroad so that the work done is in house but the location is foreign Also known as foreign direct investments |
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Business process outsourcing (BPO) |
The outsourcing of business processes such as loan origination, credit card processing and call center operation |
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Reshoring |
Moving formerly offshored activities back to the home country of the focal firm |
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VRIO framework |
The resourced based framework that focuses on the Value (V) Rarity (R) Imitability (I) Organizational (O) aspects of resources and capabilities |
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Causal Ambiguity |
The difficulty of identifying the actual cause of a firm's successful performance |
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Complementary Asset |
The combination of numerous resources and assets that enable a firm to gain a competitive advantage |
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Ambidexerity |
Ability to use one's both hands equally well. In management jargon, this term has been used to describe capabilities to simultaneously deal with paradoxes (such as exploration versue exploitation) |
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Social complexity |
The socially intricate and interdependent ways that firms are typically organized |
