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10 Cards in this Set
- Front
- Back
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Above average returns
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Return on an investment that is higher than would be expected on average on an investment with similar ammount of risk.
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Sustainable competetive advantage
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Capabilities that allow a company to earn above average returns and are hard for the competitors to copy are the source.
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VRIOS
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Valuable
Rare Inimitable Organizational - effectively exploitable by the organization in question A tool for evaluating the potential of a competency for becoming a source of sustainable competetive advantage. Strategically significant - Should not be specific to one product but to allow access to wide markets. |
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Core competency
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One thing that a company can do better than competition.
Intentional harmonized combination of key capabilities. |
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Capability
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Effective utilization of a set of resources to perform a task.
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Strategic intent
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Description of the means by which the organization will work towards it's vision.
Tool for communicating to employees and key business partners the intentions of the organization. |
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Strategic mission
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Communication of the the companys vision of what it aims to be.
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profit pool
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Total profits earned within an industry sector.
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Resource based model for above average returns
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Above average returns are earned when companys strategy is based on utilization of it's internal resources and capabilites.
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Industrial organization model of above avertage returns
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Above average returns are earned when a firm implements a strategy that is formulated based on analysis of the external environment and choosing an attractive industry based on this.
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