Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition by Pearson

CHAPTER 3

Evaluating a Firm’s Internal Capabilities

LEARNING OBJECTIVES

After reading this chapter, you should be able to:

1. 3.1 Describe the resource-based view and how it differs from the S-C-P model.
2. 3.2 Describe the VRIO framework and how it relates to the resource-based view.
3. 3.3 Be able to apply the VRIO framework to identify the competitive implications of a firm’s resources and capabilities.
4. 3.4 Discuss important implications of the resource-based view, including:
   1. a. How value chain analysis can be used to identify a firm’s valuable resources and capabilities.
   2. b. The kinds of resources and capabilities that are likely to be costly to imitate.
   3. c. How a firm uses its structure, formal and informal control processes, and compensation policy ...