The difference between a resource and a capability is that
A.a resource refers to a company’s most strategically important asset
, whereas a capability refers to the basis of a company’s competitive advantage over rivals.
What do you mean by resources and capabilities?
Resources and Capabilities are
the sources of competitive advantage and the primary source of profitability for any firm
. Resources and capabilities empower a company to drive the business and face competition with their products & offerings for the need of customers.
What is the difference between a resource and a capability quizlet?
The difference between a resource and a capability is:
a resource is a productive input or competitive asset
, while a capability is the capacity of the firm to perform some internal activity competently.
What are examples of capabilities?
The definition of a capability is something that a person or thing is able to do.
When a person can cook
, this is an example of a situation where he has the capability to cook. When a computer can open a file, this is an example of a situation where the computer has the capability to open the file.
What is a resource and capability analysis?
A “Resources and Capabilities” analysis is
a study about the potential of a company
. Instead of focusing on its results, it highlights the tools and internal opportunities a company could use for maximizing its outcome.
How do you determine if a resource or capability is competitively valuable?
The competitive power of a resource or capability is measured by
how many of four specific tests it can pass
. 4 These tests are referred to as the VRIN tests for sustainable competitive advantage—VRIN is a shorthand reminder standing for Valuable, Rare, Inimitable, and Nonsubstitutable. resource vs capability?
When a company is good at performing a particular internal activity it is said to have?
a company competence
is a competitively relevant activity which a firm performs especially well relative to other internal activities, whereas a core competence is an activity that a company has learned to perform proficiently.
What are examples of resources and capabilities?
You can spend money and immediately acquire a resource
. For example, a book is a resource because you can immediately purchase it. A physical server is a resource because you can buy one and have it shipped to you. Capabilities are things that organizations develop with time.
What are the major differences between firm resources and capabilities?
The difference between a resource and a capability is that
A.a resource refers to a company’s most strategically important asset
, whereas a capability refers to the basis of a company’s competitive advantage over rivals.
Is capability an asset?
The term “capabilities” is also used somewhat interchangeably with “competencies”. The competencies or low-level capabilities are regarded as
assets or knowledge-resources of the enterprise
, alongside physical assets and other resources that are difficult for competitor firms to acquire.
What are the seven capabilities?
- Literacy.
- Numeracy.
- Information and Communication Technology Capability.
- Critical and Creative Thinking.
- Personal and Social Capability.
- Ethical Understanding.
- Intercultural Understanding.
What are examples of key capabilities?
- Strategic planning.
- Excellent organization skills.
- Leadership and personnel management.
- Project management.
- Attention to detail.
What are the key capabilities?
Key Capabilities are those
processes and people who perform the value-added activities that build a company’s product/service offerings and support the growth of markets served
.
What are different types of resources?
- Natural Resources. All things and resources that are naturally abundant are referred to as natural resource. …
- Manmade Resources. These refer to resources that are produced by humans from already available natural things. …
- Human Resource.
What are the 3 things that provides source of capability to an organization?
These capabilities—the collective skills, abilities, and expertise of an organization—are the outcome of investments in
staffing, training, compensation, communication, and other human resources areas
. They represent the ways that people and resources are brought together to accomplish work.
What are McDonald’s resources?
The key resources of McDonald’s are
its brand and intellectual properties
, its unique menu items, its ingredients and supply chain, its network of company-operated and franchised restaurants, its IT and communications infrastructure, its distribution and delivery infrastructure, its partnerships, and its personnel.
