Chapter 4: Evaluating the Internal Environment
4.2 Managing Firm Resources
4.3 Resource-Based View
4.4 Value Chain
After reading this chapter, you should be able to understand and articulate answers to the following questions:
- What is the Resource-Based View and why is it important to organizations?
- How is the VRIO tool applied to strategic resources?
- In what ways can intellectual property serve as a value-added resource for organizations?
- What are isolating mechanisms and how can they contribute to a firm’s competitive advantage?
- How can the Value Chain be applied to achieve a competitive advantage?