This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here! Show Part 1: Part 2: Part 3: https://brainmass.com/business/strategy-and-business-analysis/competitive-dynamics-business-level-strategy-internal-organization-587836 Solution PreviewPart 1 2. What is value? Why is it critical for the firm to create value? How does it do so? 3. What are the differences between tangible and
intangible resources? Why is it important for decision makers to understand these differences? Are tangible resources more valuable for creating capabilities than are intangible resources, or is the reverse true? Why? 4. What are capabilities? How do firms create capabilities? 5. What four criteria must capabilities satisfy for them to become core competencies? Why is it important for firms to use these criteria to evaluate their capabilities value-creating potential? 6. What is value chain analysis? What does the firm ... Solution Summary2124 words answer multiple questions on and relating to these topics. ADVERTISEMENTWhat are the four criteria used to determine which of a firm's capabilities are core competencies Why is it important for these criteria to be used?If a resource or capability meets the following criteria it contributes to a firm's competitive advantage over industry rivals and allows the firm to achieve profitability. A resource or capability is a core competency if it is valuable, rare, costly to imitate, and non-substitutable.
What are the 4 elements of core competencies?Variables of the Four Core Competencies
The model focuses on a combination of specific, collaborative, integrated and applied knowledge, skills and attitude.
What are the criteria to determine core competencies?In determining your company's core competencies, identify the underlying skill, ability, knowledge, experience, technology or process that enables your company to provide its unique set of products or services.
What are core competencies and capabilities?For any organization, its core competency refers to the capabilities, knowledge, skills and resources that constitute its "defining strength." A company's core competency is distinct, and therefore not easily replicated by other organizations, whether they're existing competitors or new entrants into its market.
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