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3.1 - Coggle Diagram
3.1
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The VRIO Framework
Barney (1991,1995)
Enables firms to analyze and evaluate the organizational resources and capabilities and their strategic values
Valuable
e.g Apple's product-design capability is providing value to the customers enabling the firm to create high demand
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Organisation Support
Is the company organized and manager well allowing it to capitalize on the value, rarity and inimitable resources?
A robust management system to deploy and manage the resources and capabilities effectively and productively
The Positioning Approach
What drives an organisation's performance depends on the deep understanding and careful analysis of an organisation's industry and market, which enables it on how it can position itself within the industry
Key proponent
Michael Porter (1996, 2008)
The starting point of strategy formulation is the external environment analysis of macro, competitors, markets, industry
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