3.0 The resource-based approach
The resource-based approach defines resources as being the key to superior company performance. If the resources also exhibit the VRIO framework, the company will be able to sustain the gained competitive advantage. The global energy industry is a highly competitive market. In this section, we will explain Gazprom’s unique competitive advantage among its competition.
3.1 Resources and Capabilities
Tangible:
Gazprom provides around 90% of the equipment and materials necessary for the Gazprom Group. Gazprom delivers over 600.000 products, some of these products are the following: fuels and chemicals, machinery, specialized machinery, construction materials and equipment, petrochemical equipment, gas production …show more content…
Human resources and capabilities are crucial for the company’s innovations, competitiveness, and overall success. The skills, talents, abilities, and knowledge of the employees are the company’s assets. Gazprom has around 400.000 employees worldwide. Also, they have incredible innovation resources, their research and development department constantly works on new innovations and enhancements. Further, the company has strategic partnerships with BASF/ Wintershall Holding facilities and with GDF SUEZ. This helped them maintain technological advantages, resulting in a better trade. Moreover, the company enhances its reputation by sponsoring events and famous sports teams in order to get good visibility to their brand. Gazprom's intangible asset, PJSC, for the last quarter of this was $1,827 …show more content…
This gives the company a unique competitive advantage. Gazprom stands out from its competition by having secured reliable supplies, but also by applying scientific and technological innovations, sales market diversification and performance improvement.
Rarity: Gazprom is the world’s largest company in terms of natural gas reserves. Globally, they have dominant market share in the natural gas industry. This is because as they own a large natural gas and hydrocarbon reserves, which gave them a huge platform for growth.
Imitability: Gazprom’s resources and capabilities are hard and expensive to imitate. This is because the company owns a gas transport infrastructure and a resource base of large natural hydrocarbon and gas reserves. Furthermore, Gazprom’s performance is hard to overtake since they have the resources, strong R&D initiatives, developed network of employees and
The resource-based approach defines resources as being the key to superior company performance. If the resources also exhibit the VRIO framework, the company will be able to sustain the gained competitive advantage. The global energy industry is a highly competitive market. In this section, we will explain Gazprom’s unique competitive advantage among its competition.
3.1 Resources and Capabilities
Tangible:
Gazprom provides around 90% of the equipment and materials necessary for the Gazprom Group. Gazprom delivers over 600.000 products, some of these products are the following: fuels and chemicals, machinery, specialized machinery, construction materials and equipment, petrochemical equipment, gas production …show more content…
Human resources and capabilities are crucial for the company’s innovations, competitiveness, and overall success. The skills, talents, abilities, and knowledge of the employees are the company’s assets. Gazprom has around 400.000 employees worldwide. Also, they have incredible innovation resources, their research and development department constantly works on new innovations and enhancements. Further, the company has strategic partnerships with BASF/ Wintershall Holding facilities and with GDF SUEZ. This helped them maintain technological advantages, resulting in a better trade. Moreover, the company enhances its reputation by sponsoring events and famous sports teams in order to get good visibility to their brand. Gazprom's intangible asset, PJSC, for the last quarter of this was $1,827 …show more content…
This gives the company a unique competitive advantage. Gazprom stands out from its competition by having secured reliable supplies, but also by applying scientific and technological innovations, sales market diversification and performance improvement.
Rarity: Gazprom is the world’s largest company in terms of natural gas reserves. Globally, they have dominant market share in the natural gas industry. This is because as they own a large natural gas and hydrocarbon reserves, which gave them a huge platform for growth.
Imitability: Gazprom’s resources and capabilities are hard and expensive to imitate. This is because the company owns a gas transport infrastructure and a resource base of large natural hydrocarbon and gas reserves. Furthermore, Gazprom’s performance is hard to overtake since they have the resources, strong R&D initiatives, developed network of employees and