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18 Cards in this Set
- Front
- Back
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What is the role of resources and capabilities in strategy formulation? |
Strategy is concerned with matching a firm's resources and capabilites to the opportunities that arise in the external environment |
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What is the definition of resources? |
Productive assets owned by the firms |
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What is the definiton of capabilities? |
Capabilities are what the firm can do |
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What are the three main type of resouces that can be identyfied? |
- Tangible - Intangible - Human (Zie figuur 5.3 op pag 117) |
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What is 'competency modeling'? |
Indentifying the set of skills, content knowledge, attitudes, and values associated with superior performers within a particular job category, then assesing each employe against that profile. |
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What are distinctive competences? |
capabilities that can provide a basis for competitive advantage |
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What are the two reasons why core competencies are fundamental to a firms' strategy and performance? |
- They make a disproportionate contribution to ultimate consumer value or to the efficiency with which that value is delivered - They provide a basis for entering new markets |
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What are the two approaches to identify a firm's organizational capabillites? |
- A functional analysis: indentifies organizational capabilities within each of the firm's functional areas - A value chain analysis: Primary activities and support activities |
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What is an essential step in creating organizational capability? |
Routinization: when the activities of organizational members become routine, tasks can be completed efficiently and reliable |
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What is the definition of organizational routines? |
regular and predictable behavioral patterns (comprising) repetitive pattern of activity |
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What are the Support activities of Porter's value chain? |
- Firm infrastructure - HRM - Technology development - Procurement (Inkoop) Zie fig 5.4 op pag 123 |
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What are the primary activities of Porter's value chain? |
- Inbound logistics - Operations - Outbound logistics - Marketing and sales - Service |
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What two conditions must be present for a resource or capability to establish a competitive advantage? |
- Scarity - Relevance: A resource or capability must be relevant to the KSFs in the market |
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Which three characteristics of resources and capabilities determine the sustainability of the competitive advantage they offer? |
- Durability: the more durable a resource, the greater its ability to support a competitive advantage over the long term - Transferability: If r&c are transferable, they can be bought and sold, then any competitive advantage that is based upon them will erode - Replicability
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What are the three factors that determine the appropiating the returns of competitive advantage? |
- Property rights - Relative bargaining power - Embeddedness |
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What is the definition of benchmarking? |
The process of identifying, understanding, and adapting outstanding practices from organizations anywhere in the world to help your organization improve its performance |
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For the framework for appraising resources and capabilities, which definitions are on the horizontal and vertical axes (Figuur 5.8 op pag 131) |
Horizontal: Strategic importance Vertical: Relative strenght |
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For the framework for appraising resources and capabilities, which definitions are inside the framework? (Figuur 5.8 op pag 131) |
--------------------------------------------------------------- | Superflouos strengths | Key strenghts | --------------------------------------------------------------- | Zone of irrelevance | Key weaknesses | ---------------------------------------------------------------- |
