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| Discovering core competencies diagram |
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Resources then capabilities, and then core competencies
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What a firm has internally. Assests include people and the value of its brand name. Resources are necessary but not sufficient for a competitive advantage
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financial(borrowing capacity), organizational(formal reporting structure), Physical(access to raw materials), Technological(patents, trademarks, copyrights, etc)
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Human Resources(knowledge, trust), Innovation resources(creativity, ideas), Reputational resources(brand name and perception of product quality)
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What a firm can do. The firm's capacity to deploy resources that have been purposely integrated to achieve a desired objective.
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Term
| What are core competencies? |
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What a firm can do that is strategically valuable. these consist of resources and capabilities that serve as a source of a firms sustained competitive advantage(SCA) over rivals.
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Term
| what are the four criteria of Sustained competitive advantage? |
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Valuable capabilites, rare capabilities, costly to imitate, and nonsubstitutable.
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| Does SCA equate to a permanent competitive advantage? |
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former core competencies that generate inertia as well as stifle learning and innovation. Happens because of environmental change.
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a template that firms use to understand the parts of its operations that create value and those that do not.
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defined as the purchase of a value-creating activity from an external supplier
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