Now, he is looking at the market from the resource point of view. But, a resource which caters to a changed market is different. Therefore, First-fitness strategy will be based on developing and exploiting internal capabilities to adjust and exploit external change (figure 8).
Establishing competitive advantages involves formulating and implementing a strategy that exploits the uniqueness of a firm's portfolio of resources and capabilities... displayed 300 characters
Custom written essay
All essays are written from scratch by professional writers according to your instructions and delivered to your email on time. Prices start from $10.99/page
Your research paper is written by certified writers
Your requirements and targets are always met
You are able to control the progress of your writing assignment
You get a chance to become an excellent student!
Get a price guote
He can learn from Competitor's success, but attempts to replicate their strategies mindlessly.
Gary has to look at his firm's resources (figure 7) and assess the decision criteria using the decision group dynamics (figure 8). He has to consider the risk ?reward trade-off in,
? Financial criterion
o Are the paybacks in the near future
o Are the profits reasonable
o Is the profitability and cash flows appropriate
o What are my ?Real Options'
? Emotional
o Am I satisfied with the option
o Is it consistent with my values
o Does it evoke my interest
o Does it challenge me enough
? Strategic
o Is it the best use of my resources
o Does it increase my competitive advantage
o Do I influence the industry structure favourably
? Risk Assessing
o Am I increasing the competitiveness in the industry (scorched earth policy)
o Are my resources getting over-extended
o Am I delighting my customers and increasing their loyalty
o Does it get the staff to carry this off displayed 300 characters
