BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Resources, capabilities, & core competencies/strategic capabilities.
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Research, capabilities, & core competencies.
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Research, consistency, & core competencies.
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Detailed explanation-1: -To lead to a sustainable competitive advantage, a resource or capability should be valuable, rare, inimitable (including nonsubstitutable), and organized. This VRIO framework is the foundation for internal analysis (Wernerfelt, 1984). VRIO is an acronym for valuable, rare, inimitable, and organization.
Detailed explanation-2: -An internal analysis highlights three factors: an organization’s competency, resources, and competitive advantage.
Detailed explanation-3: -An Internal Analysis is the process of an organization examining its internal components to assess its resources, assets, characteristics, competencies, capabilities, and competitive advantages.
Detailed explanation-4: -STEP 3a-INTERNAL ANALYSIS: Resource & Capabilities. Value Chain Analysis. Value Proposition.
Detailed explanation-5: -What Are Internal Resources Of A Business? Internal factors are inner strengths and weaknesses, which are either tangible or intangible, that an organization exhibits. It is believed that these elements can strongly affect a company’s performance and the capability of meeting its objectives.