08 Aug Discuss how your company uses internal resources to create core competencies and achieve a competitive advantage

Week 3 – The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages – Chapter three ?

For this question, utilize the company you chose from the Canvas site for your written assignments this semester. This is VERY important, and you will use the same company on all the discussions. Do not forget to use appropriate other sources and to cite them using any citation method you choose, APA is preferred, but other styles are okay. Always make sure to cite any sources used in the “Cite your Source” box at the bottom. If you’re looking to cite multiple sources, you can do so by separating each with a semi-colon.

Utilizing the concepts found in Chapter 3 discuss how your company uses internal resources to create core competencies and achieve a competitive advantage.

1. State your company, its customers, and business outputs.

2. Describe your company’s value chain, including the activities that create customer value.

3. Identify the tangible and intangible resources required to maintain your company’s core competencies.

4. Discuss its internal strengths and weaknesses.

Your job is to answer this question in 600 words at a minimum and then ask an “open ended” question using the “Ask a New Question” button, based on the chapter that can be answered by your peers using the textbook !!!!!! In addition to answering the question shown above, you must respond to one of your fellow classmates questions.

RELEVANT VOCABULARY

As these definitions are available here, do NOT define them in your posts.

inputs – the tangible and intangible resources an organization coordinates and transforms in the value creation process.

outputs – the value added goods, services, and information an organization produces for it’s stakeholders.

value chain – “activities or tasks the firm completes in order to produce products and then sell, distribute, and service those products in ways that create value for customers” (Hitt et al., 2020, p. 92).

tangible resources – “assets that can be observed and quantified. Production equipment, manufacturing facilities, distribution centers, and formal reporting structures are examples of tangible resources” (Hitt et al., 2020, p. 82).

intangible resources – “assets that are rooted deeply in the firm’s history, accumulate over time, and are relatively difficult for competitors to analyze and imitate” (Hitt et al., 2020, p. 82). Knowledge, trust, routines, brand/reputation, and organizational culture are intangible resources.

core competencies – “capabilities that serve as a source of competitive advantage for a firm” (Hitt et al., 2020, p. 86). Valuable, rare, inimitable, and non-substitutable capabilities that are practiced until they become a part of the firm’s character.