Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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The pursuit of competitive advantage requires a strategist to discover or build a company’s core competencies which will constitute the vehicle that will drive the implementation of successful strategies. A renowned global consulting firm, McKenzie Consulting Group states that “in order to gain and sustain competitive advantage, an organization should at least possess three core competencies which will form the foundation upon which successful strategies are developed”.
Required:
1. Briefly distinguish resources from core-competencies?
2. Choose a Ghanaian or Multinational Company operating in Ghana and identify any five tangible resources /capabilities and five intangible resource/capabilities
3. Take each one of the above named tangible and intangible resource/capability and match each against the VRIN framework, clearly justify why any of the named tangible and intangible resource/capability qualifies to be a core competency?
4. Based on the outcome of your analysis above would you say the organization has adequate internal core competencies to support the attainment of a sustainable competitive advantage? Clearly state the strategy options that the organization can consider based on the outcomeof you analysis
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Step 1: Define competitive advantage:
VIEW Step 2: 1. Distinguishing Resources from Core Competencies:
VIEW Step 3: 2. Selection of Company and Identification of Resources/Capabilities:
VIEW Step 4: 3. Matching Resources/Capabilities to the VRIN Framework:
VIEW Step 5: 4. Assessment of Adequate Internal Core Competencies and Strategy Options:
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