QuestionQuestion

5-3. How does the resource-based view of firms help in determining the sustainability of competitive advantage?
5-4. How does VRIO framework analysis help in evaluating a company's competencies?
5-5. In what ways can a corporation's structure and culture be internal strengths or weaknesses?
5-6. What are the pros and cons of management using the experience curve to determine strategy?
5-7. How might a firm's management decide whether it should continue to invest in current known technology or in new, but untested technology? What factors might encourage or discourage such a shift?
7-3. How does horizontal growth differ from vertical growth as a corporate strategy? From concentric diversification?
7-4. What are the trade-offs between an internal and an external growth strategy? Which approach is best as an international entry strategy?
7-5. Explain the vertical integration continuum.
7-6. Explain Green Field Development, and provide examples to clarify.
7-7. How is corporate parenting different from portfolio analysis? How is it alike? Is it a useful concept in a global industry?

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5-3. The resource-based view of the firm indicates that the human capital management practices can contribute significantly to sustainable competitive advantage. Resource based view indicates that human capital management practices help create specific skills, knowledge, and culture that are internal to the firm and inimitable. This means that by creating a diversity of resources in terms of skills and knowledge, and a culture that people want to work in, it means that it helps create a sustainable competitive advantage.

5-4. In order to generate a sustainable competitive advantage the company’s resource or capability needs to be valuable, rare, inimitable, and non-substitutable. This is the VRIO framework, and it is the foundation for internal analysis, VRIO is as well at the core of the resource-based view of the firm. Company’s core competencies are the capabilities and resources that are serving as the source of the competitive advantage; they distinguish the company from the competition...

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