Question

According to the resource-based view of the firm, internal resources can be instrumental in attaining a sustainable competitive advantage. Using company examples, describe the various types of firm resources. Also, describe the specific criteria managers can use to decide which resources/capabilities have the potential to create a sustainable competitive advantage.

(any company can be used as an example)

Answer 1

Answer:-

An organization possesses various kinds of internal resources that can help accomplish the supportable competitive advantage. An instance of Apple can be taken for conversation. The main internal asset is the restrictive innovation and developments that are spotless, natural amicable and advance maintainability. It causes the association to manufacture the market that are less competitive in nature.

Example:-

The famous items like iPhone and iPad are the ones who have made colossal worth and still holds competitive advantage in the business condition. The subsequent asset is the human asset that are advancement driven with high affinity towards innovativeness. It encourages the association to constantly enhance the current framework.

Also, a concentration upon the earth care, drives them to work toward a path to make maintainable competitive advantage. The third asset is the capital base an organization possesses. It can help in building or altering a framework that can encourage the improvement of supportable competitive advantage.

In addition, the organization can likewise make rules and approaches to manufacture a worth chain that depends on moral practices.

Example:-

It is finished by the various sellers for Apple in the nation of China and for Starbucks Coffee, it is the espresso beans provider from various pieces of the world.

Managers need to recognize the key economical competitive advantages, and the key capabilities required among the resources to accomplish these maintainable competitive advantages. For this reason, the managers set after standards:

The past experience of the asset (HR) for work toward the path to accomplish explicit maintainable competitive advantages

Execution level of the asset (HR) when they work in a difficult situation

Nearness of extra capabilities in the association that can be committed to accomplish

The appropriateness of the innovation with complete examination towards its job in supportability

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