COMM 210 Lecture Notes - Lecture 6: Retained Earnings, Competitive Advantage, Swot Analysis

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Barney"s claims : a firm will be successful if it has resources with the right attributes and characterisitics. A frim will have sustained competitive advantages if its resources and capabilities are valuable, rare, inimitable and organized in a way that allows to exploit potential oppurtunities. Financial, physical, human and organizational assets used by the firm to develop, manufacture and deliver products and services to its customers. Organizational : history, relationships, trust, culture, formal reporting structure. Values may change over time due to customer tastes, industry structure or technology. One of the most important responsibilities of strategic managers is constant evaluation of the firm"s resources and capabilities to add continous value. Competitive advantage depends on the value, rareness, and imitability of its resources and capabilities. Tofully realize this potential a frim must be organized to exploit its resources and capabilities. Complementary resources have limited ability to generate a competitive advantage in isolation.

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