BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Firms create value by innovatively bundling and leveraging their resources and capabilities. product-market positions, are the firm’s most important sources of competitive advantage. analysis of its general, industry, and competitor environments, should drive its selection of strategies.

Detailed explanation-2: -By exploiting internal resources and capabilities and meeting the demanding standards of global competition, firms create value for customers. Value is measured by a product’s performance characteristics and by its attributes for which customers are willing to pay.

Detailed explanation-3: -They define it as “a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace.” Core competencies fall into two categories; those which the organization possesses today and those you aspire to have. It can be helpful to identify both.

Detailed explanation-4: -A company’s capabilities concerns it ability to deploy resources. They generally materialize through the development and exchange of information, knowledge, and processes. While resources are acquired, capabilities are developed. The use and execution of capabilities is accounted for within Porter’s Value Chain.

Detailed explanation-5: -Resources are bundled to create organizational capabilities. In turn, capabilities are the source of a firm’s core competencies, which are the basis of establishing competitive advantages. Broad in scope, resources cover a spectrum of individual, social, and organizational phe-nomena.