03 BUS 444 Chap 3

3 23 typesofresources intangible resources

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Unformatted text preview: , including physical assets, financial resources, organizational resources, and technological resources. 3-23 Types of Resources • Intangible resources organizational assets that are difficult to identify and account for and are typically embedded in unique routines and practices, including human resources, innovation resources, and reputation resources. 3-24 Types of Resources • Organizational capabilities The competencies and skills that a firm employs to transform inputs into outputs 3-25 Firm Resources and Sustainable Competitive Advantages • First, the resource must be valuable in the sense that it exploits opportunities and/or neutralizes threats in the firm’s environment. • Second, it must be rare among the firm’s current and potential competitors. 3-26 Firm Resources and Sustainable Competitive Advantages • Third, the resource must be difficult for competitors to imitate. • Fourth, the resource must have no strategically equivalent substitutes. 3-27 Sources of Inimitability • Physical uniqueness • Path dependency • Causal ambiguity • Social complexity 3-28 The Generation and Distribution of a Firm’s Profits Four f...
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