Podcast
Questions and Answers
What are the four criteria used to analyze how resources and capabilities provide sustainable competitive advantage?
What are the four criteria used to analyze how resources and capabilities provide sustainable competitive advantage?
Value, Rarity, Inimitability, Organisational support (VRIO)
What are some methods to diagnose resources and capabilities?
What are some methods to diagnose resources and capabilities?
Benchmarking, VRIO analysis, value chain analysis, activity systems mapping, SWOT analysis
What is resource-based strategy?
What is resource-based strategy?
Resource-based strategy explains the competitive advantage and superior performance of an organization based on the distinctiveness of its capabilities.
What are some of the strong capabilities of CSL?
What are some of the strong capabilities of CSL?
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What does the 'capabilities view' explain?
What does the 'capabilities view' explain?
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Study Notes
Strategic Capability
- Strategic capability involves identifying and analysing organisational resources and capabilities that underpin organisational strategy.
- The goal is to achieve sustainable competitive advantage by leveraging resources and capabilities that are valuable, rare, inimitable, and organisationally supported (VRIO).
Resource-Based Strategy
- The resource-based strategy views an organisation's competitive advantage and superior performance as a result of its distinct capabilities.
- This perspective is also referred to as the 'capabilities view'.
- Example: CSL's strong R&D, innovation, and willingness to try new drugs demonstrate great capabilities.
Foundations of Resources and Capabilities
- Resources and capabilities are the foundation of an organisation's strategic capability.
- They can be diagnosed using various tools and frameworks, including:
- Benchmarking
- VRIO analysis
- Value chain analysis
- Activity systems mapping
- SWOT analysis
- Resources and capabilities can be developed through dynamic capabilities.
Dynamic Capabilities
- Dynamic capabilities refer to an organisation's ability to develop and adapt its resources and capabilities over time.
- This enables the organisation to respond to changing internal and external environments.
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Description
Test your knowledge of strategic capability with this quiz. Learn about identifying organisational resources and capabilities that support strategy, analysing how they contribute to sustainable competitive advantage, and diagnosing resources and capabilities through benchmarking and value chain analysis.
