Media as an Instrument of Control vs. Media as an Agent of Change
Media as an Instrument of Control In many countries, the media is used by the government as an instrument of control and for propaganda purposes. For instance, the Chinese media is heavily controlled and censorship is direct and deep. In countries like the United States, though there is no explicit control, the media is expected […]
The Role and Duties of the Board of Directors
Any public limited or a private company needs to have a board of directors which would ratify the management decisions taken by the leadership. These decisions can be financial or operational that affects the day to day running of the company. Further, the board of directors is expected to give a direction to the company […]
Managing High Performance Teams to Gain Product Leadership
Take a look at organizations that are considered to be product leaders in their respective fields like Intel, Google, Microsoft, Apple, GE, 3M, and Phillips etc. It is evident that the Organizations are totally focused on innovation and R&D. Developing, improving and creating products for tomorrow as well as thinking of the future. It is […]
Leveraging Influencer Partnerships in Social Media Marketing
Love them or hate them, there’s no denying the impact that influencers have on consumers purchasing decisions. Heard about influencer partnerships but not sure where to get started or if it’s the right marketing strategy for your business? You’re in the right place. In this article, we cover everything you need to know about influencer […]
Observation Method
The observation method involves human or mechanical observation of what people actually do or what events take place during a buying or consumption situation. “Information is collected by observing process at work”. The following are a few situations:- Service Stations – Pose as a customer, go to a service station and observe. To evaluate the […]
The resource-based view (RBV) is a way of viewing the firm and in turn of approaching strategy. Fundamentally, this theory formulates the firm to be a bundle of resources. It is these resources and the way that they are combined, which make firms different from one another. It is considered as taking an inside-out approach while analysing the firm. This means that the starting point of the analysis is the internal environment of the organization.
Resources of the firm can include all assets, capabilities, organizational processes, firm attributes, information and knowledge. In short resources can be considered as inputs that facilitate the organization to perform its activities.
All resources that an organization has may not have strategic relevance. Only certain resources are capable of being an input to a value creating strategy which put the organization in a position of competitive advantage. An organization’s resource should have four attributes to provide the potential for competitive advantage. These form the VRIN characteristics.
The important features for a resource to be strategically important are as below
The VRIN characteristics mentioned above are individually necessary for the resources to be valuable.
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