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1We Can See That… Competitive Advantageand Other ThingsSummarized by Yvonne Smith, Ph. D.University of La VerneFunctional AnalysisVRIO analysis Strategic Advantage3How do you get it?OK, now we know what it isI get it!style.visibilityppt_wppt_hstyle.visibilitystyle.visibility Developing a Business ModelDECISION 1: Define the businessMissionWho are our customers and why? 4WHO is our customer?Abell ModelWHAT needs do we serve?HOW do we serve needs?BusinessAbelle analysis for a Car Dealership Lodge Cast Iron Company home pageExample: Lodge Cast Iron“Since 1896, the Lodge family has been casting premium iron cookware at our Tennessee foundry….As the sole American manufacturer of cast iron cookware, we are proud to carry on the legacy started by our great grandfather Joseph Lodge. We don’t just make products; we make heirlooms that bring people together for generations.” Developing a Business Model The mission defines the businessThe business determines industryThe industry determines the competitors(Competitive Advantage = above industry average profitability)6WHO is our customer?WHAT needs do we serve?HOW do we serve needs?BusinessStrategic question at the Firm Level:How do we gain & maintain competitive advantage?style.visibilitystyle.visibilitystyle.visibilitystyle.visibility 7FinanceFirm/Organization/SBUR&DProductionMarketing & SalesStrategic question:How do we gain & maintain competitive advantage?DECISION 2: Business-level strategyChoices: Low cost, Differentiation, Focus CombinationsDetermines strategic group (Small set of immediate competitors)Q: CA is demonstrated at which level?style.visibilitystyle.visibility 8FinanceFirm/Organization/SBUR&DProductionMarketing & SalesStrategic question:How do we gain & maintain competitive advantage?DECISION 2: Business-level strategyChoices: Low cost, Differentiation, Focus CombinationsDetermines strategic group (Small set of immediate competitors)Q: CA is created at which level?style.visibilitystyle.visibility Developing a Business ModelDECISION 3: Choose internal strategies Based in firm resources & competenciesFocused on what creates competitive advantage9E.G. The value chainValue to customers creates Competitive AdvantageBuild core and distinctive competencies in key functionsstyle.visibilitystyle.visibilitystyle.visibility 10The Value ChainPrimary ActivitiesSupportActivitiesOutputsCustomer Service R&D Oper-ationsCompany Infra-StructureHuman ResourcesTechnology DevelopmentInformation SystemsMarketing& SalesInboundlogisticsInputsNote: which functions are primary and which aresupport depends on the firm and the industry. A primary function of all firms is operations/production (what the firm exists to do.) Other than that, the analyst can decide. style.visibilitystyle.visibilitystyle.visibility Functional AnalysisR&DProduction, OperationsMarketing & SalesCustomer Service11Primary FunctionsFor your boss, analyze all the functions.For me, the requirement is to analyze any four of the primary functions, including the production/operations function. The purpose of the class is to learn the tool (analysis) and make recommendations (decide),not do endless analysis. BUT, for your boss, analyze all the functions. style.visibilityppt_xppt_ystyle.visibility Functional Analysis12R&DProduction, OperationsMarketing & SalesCustomer ServiceEfficiencyQualityInnovationCustomer ResponseDown the side: the key competencies that build Competitive Advantage Build core and distinctive competencies in:13EfficiencyQualityInnovationCustomer ResponsivenessBuilding Blocks of Competitive AdvantageBuilding Blocks of Competitive AdvantageHill and Jones, 2004 Key areas that build CAEfficiencyInputs = factors of production (land, labor, capital, information) Outputs = the product or service Quality Reliable productsdo the job they were designed fordo it well. 14_I_ OHill and Jones, 2004style.visibilitystyle.visibilitystyle.visibilitystyle.visibilitystyle.visibilitystyle.visibilitystyle.visibilityppt_xppt_y Key areas that build CAInnovationSomething new or novelin the product or the process15Customer ResponsivenessGiving the customer what they want when they want itHill and Jones, 2004,style.visibilitystyle.visibilitystyle.visibilityppt_xppt_y Functional Analysis16R&DProductionMarketing & SalesCustomer ServiceEfficiencyHighMedHighHighQualityMedHighLowInnovationLowLowMedLowCustomerResponseMedHighLowStrengthsExample: Package Delivery: LOWPSstyle.visibility Functional Analysis17R&DProductionMarketing & SalesCustomer ServiceEfficiencyHighMedHighHighQualityMedHighLowInnovationLowLowMedLowCustomerResponseMedHighLowStrengthsExample: Package Delivery: LOWPS Functional Analysis18R&DProductionMarketing & SalesCustomer ServiceEfficiencyHighMedHighHighQualityMedHighLowInnovationLowLowMedLowCustomerResponseMedHighLowStrengthsExample: Package Delivery: LOWPS Functional Analysis19R&DProductionMarketing & SalesCustomer ServiceEfficiencyHighMedHighHighQualityMedHighLowInnovationLowLowMedLowCustomerResponseMedHighLowWeaknessesExample: Package Delivery: LOWPS Functional Analysis20R&DProductionMarketing & SalesCustomer ServiceEfficiencyHighMedHighHighQualityMedHighLowInnovationLowLowMedLowCustomerResponseMedHighLowWeaknessesExample: Package Delivery: LOWPS Functional Analysis21R&DProductionMarketing & SalesCustomer ServiceEfficiencyHighMedHighHighQualityMedHighLowInnovationLowLowMedLowCustomerResponseMedHighLowWeaknessesExample: Package Delivery: LOWPS Q: Under what conditions does a distinctive competency in, for example, efficiency, create Competitive Advantage? 22Basics: How a Resource or Capability becomes a Distinctive Competency This question is based on the Resource Based View (RBV) of the firm (Barney, 1995)Jay Barney on the Resource Based View of the FirmBasics of RBV Q: Under what conditions does a distinctive competency create Competitive Advantage? V Valuable (to the customer) R Rare (industry) I Difficult to imitate O Organization uses it well23VRIO toolNote: The DME textbook teaches the RBV Analysis using the VRIS framework. This change from the VRIO framework was proposed by one of the authors of the textbook. Most people use VRIO. I suggest you do likewise. VRIO Capabilities Analysis Resource, Competency Is it Valuable? (V)Is it Rare? (R)Is it difficult to Imitate? (I)Does the Organization use it well? (O)24List the competencies (strengths) of the firm. The question is, “Does this strength lead to competitive advantage?” VRIO Capabilities Analysis Resource, Competency Is it Valuable? (V)Is it Rare? (R)Is it difficult to Imitate? (I)Does the Organization use it well? (O)Creates compelling adsLow cost R&D systemsQuick response to customer complaints25VRIO toolExample: Package Delivery: LOWPSLook at the functions where the firm has strengths.What are the specific strengths the firm has? List them. VRIO Capabilities Analysis Resource, Competency Is it Valuable? (V)Is it Rare? (R)Is it difficult to Imitate? (I)Does the Organization use it well? (O)Creates compelling adsNoNoNoYesLow cost R&D systems ? yes yes yesQuick response to customer complaintsYes ?Noyes26VRIO toolExample: Package Delivery: LOWPSStrength but not distinctive. No CAPossible CA, needs more analysisStrength and possibly distinctive. Can distinctiveness be developed? style.visibilitystyle.visibilitystyle.visibility 27THE ENDstyle.visibilityppt_wppt_h
Case Emirates - VRIO

Case Emirates - VRIO

Question # 00601491 Posted By: burgerrubio Updated on: 10/09/2017 11:16 PM Due on: 10/05/2017
Subject Marketing Topic Marketing Tutorials:
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Case Emirates – VRIO

1. What business and industry is Emirates in?

2. Name its main competitors. Look at the functional and financial analyses from authors with assumptions similar to yours.

3. Based on the Strengths found in those functional and financial analyses, create a section of a VRIO analysis. Remember the goal of the VRIO chart is to find areas where the firm can sustain competitive advantage. Tip: using the chart makes this analysis much easier.

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    Tutorial # 00599865 Posted By: mac123 Posted on: 10/09/2017 11:19 PM
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