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Resources, Capabilities and Core Competencies
Reflective Learningon 30 November 2012
Transcript of Resources, Capabilities and Core Competencies
and their link to Sustainable Competitive Advantage So where do we start?
With the big picture ! Let’s clarify what we mean by RESOURCES ! A DEFINITION of RESOURCES Resources are a firm’s assets, including people, its brand, capital equipment, skills of employees and financial resources.
There are tangible and intangible resources.
Tangible resources + intangible resources = create capabilities ……. which can be structured to become core competencies Some examples of TANGIBLE RESOURCES Some examples of INTANGIBLE RESOURCES Now about CAPABILITIES Capabilities = integration and interaction of specific tangible and intangible resources to achieve a desired business goal Now some links between RESOURCES and CAPABILITIES And onto CORE COMPETENCIES Core competencies are the resources and capabilities that combine to become the source of a company’s competitive advantage…usually activities that add unique value to the goods and services a company sells. These competencies represent what a company typically excels at…the areas where they out-perform competitors.
Core competencies are the resources and capabilities that combine to become the source of a company’s competitive advantage.
A core competency is fulfills three key criteria:
It is not easy for competitors to imitate.
It can be re-used widely for many products and markets.
It must contribute to the end consumer's experienced benefits. The importance of the product/service to its customers. Reinforcing the links For an example of core competencies, when studying “Walt Disney World - Parks and Resorts”, there are three main core competencies:
• Animatronics and Show Design
• Storytelling, Story Creation and Themed Atmospheric Attractions
• Efficient operation of theme parks The Basic Value Chain A REFLECTIVE QUESTION : HOW FAR DO YOU;
(1) UNDERSTAND ….
(2) CAN TALK ABOUT CONFIDENTLY ….
(3) CAN USE AS AN ANALYTIC TOOL ….
(4) CAN APPLY (relevant parts) TO YOUR CHOSEN FIRM …… THIS ?