strategic management What four criteria must resources/capabilities satisfy to become core competencies? Why is it important...

strategic management

What four criteria must resources/capabilities satisfy to become core competencies? Why is it important for firms to use these criteria to evaluate their resources/capabilities? Choose a company that you are familiar with. Apply these four criteria on five resources/capabilities of this company. Explain your findings.

Expert Solution

STRATEGIC MANAGEMENT

It is the ongoing planning, monitoring,analysis and assessment of all necessities within an organization need to meet the goal.

Criteria must resources/capabilities satisfy to become core competencies?

They should be valuable
They should be rare
They should be inimitable
They should be non-substitutable

It is important for a firm to use the above four criteria to ensure that its core competencies are difficult to copy and reproduced by its competitor, otherwise, these firm will go bankrupt.

EXAMPLE=APPLE

Application of four criteria in APPLE resources and capabilities in below table-

RESOURCES/ CAPABILITY	VALUE	RARE	INIMITABILITY	NON-SUBSTITUTABLE
Business process automation	--------
Competitive employee compensation package	--------	--------
HR Capability for innovation	----------	--------
Product mix diversity	--------	---------	--------
AI Capabilities	--------	---------	---------	---------
Access to user information	-------	------	-------	-----------

keosha answered 1 year ago

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