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VRIO Analysis of Webasto Co-Creating Innovation with Lead Users
Posted by Zachary Edwards on Mar-22-2018
The VRIO Analysis of Webasto Co-Creating Innovation with Lead Users will look at each of its internal resources one by one to assess whether these provide sustained competitive advantage. The Webasto Co-Creating Innovation with Lead Users VRIO Analysis also mentions at each stage whether these resources could be improved to provide a greater competitive advantage. Lastly, the resources analysed are summarised as to whether they offer sustained competitive advantage, has an unused competitive advantage, temporary competitive advantage, competitive parity or competitive disadvantage.
Valuable
- The Webasto Co-Creating Innovation with Lead Users VRIO Analysis shows that the financial resources of Webasto Co-Creating Innovation with Lead Users are highly valuable as these help in investing into external opportunities that arise. These also help Webasto Co-Creating Innovation with Lead Users in combating external threats.
- According to the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users, its local food products are a valuable resource as these are highly differentiated. This makes the perceived value for these by customers high. These are also valued more than the competition by customers due to the differentiation in these products.
- The Webasto Co-Creating Innovation with Lead Users VRIO Analysis shows that Webasto Co-Creating Innovation with Lead Users's employees are a valuable resource to the firm. A significant portion of the workforce is highly trained, and this leads to more productive output for the organisation. The employees are also loyal, and retention levels for the organisation are high. All of this translates into greater value for the end consumers of Webasto Co-Creating Innovation with Lead Users's products.
- According to the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users, its patents are a valuable resource as these allow the firm to sell its products without competitive interference. This results in greater revenue for Webasto Co-Creating Innovation with Lead Users. These patents also provide Webasto Co-Creating Innovation with Lead Users with licensing revenue when it licenses these patents out to other manufacturers.
- The Webasto Co-Creating Innovation with Lead Users VRIO Analysis shows that Webasto Co-Creating Innovation with Lead Users’s distribution network is a valuable resource. This helps it in reaching out to more and more customers. This ensures greater revenues for Webasto Co-Creating Innovation with Lead Users. It also ensures that promotion activities translate into sales as the products are easily available.
- According to the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users, its cost structure is not a valuable resource. This is because the methods of production lead to greater costs than that of competition, which affects the overall profits of the firm. Therefore, its cost structure is a competitive disadvantage that needs to be worked on.
- The Webasto Co-Creating Innovation with Lead Users VRIO Analysis shows that the research and development at Webasto Co-Creating Innovation with Lead Users is not a valuable resource. This is because research and development are costing more than the benefits it provides in the form of innovation. There have been very few innovative features and breakthrough products in the past few years. Therefore, research and development are a competitive disadvantage for Webasto Co-Creating Innovation with Lead Users. It is recommended that the research and development teams are improved, and costs are cut for these.
Rare
- The financial resources of Webasto Co-Creating Innovation with Lead Users are found to be rare according to the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. Strong financial resources are only possessed by a few companies in the industry.
- The local food products are found to be not rare as identified by Webasto Co-Creating Innovation with Lead Users VRIO Analysis. These are easily provided in the market by other competitors. This means that competitors can use these resources in the same way as Webasto Co-Creating Innovation with Lead Users and inhibit competitive advantage. This means that the local food products result in competitive parity for Webasto Co-Creating Innovation with Lead Users. As this resource is valuable, Webasto Co-Creating Innovation with Lead Users can still make use of this resource.
- The employees of Webasto Co-Creating Innovation with Lead Users are a rare resource as identified by the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. These employees are highly trained and skilled, which is not the case with employees in other firms. The better compensation and work environment ensure that these employees do not leave for other firms.
- The patents of Webasto Co-Creating Innovation with Lead Users are a rare resource as identified by the Webasto Co-Creating Innovation with Lead Users VRIO Analysis. These patents are not easily available and are not possessed by competitors. This allows Webasto Co-Creating Innovation with Lead Users to use them without interference from the competition.
- The distribution network of Webasto Co-Creating Innovation with Lead Users is a rare resource as identified by the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. This is because competitors would require a lot of investment and time to come up with a better distribution network than that of Webasto Co-Creating Innovation with Lead Users. These are also possessed by very few firms in the industry.
Imitable
- The financial resources of Webasto Co-Creating Innovation with Lead Users are costly to imitate as identified by the Webasto Co-Creating Innovation with Lead Users VRIO Analysis. These resources have been acquired by the company through prolonged profits over the years. New entrants and competitors would require similar profits for a long period of time to accumulate these amounts of financial resources.
- The local food products are not that costly to imitate as identified by the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. These can be acquired by competitors as well if they invest a significant amount in research and development. These also do not require years long experience. Therefore, the local food products by Webasto Co-Creating Innovation with Lead Users provide it with a temporary competitive advantage that competitors can too acquire in the long run.
- The employees of Webasto Co-Creating Innovation with Lead Users are also not costly to imitate as identified by the Webasto Co-Creating Innovation with Lead Users VRIO Analysis. This is because other firms can also train their employees to improve their skills. These companies can also hire employees from Webasto Co-Creating Innovation with Lead Users by offering better compensation packages, work environment, benefits, growth opportunities etc. This makes the employees of Webasto Co-Creating Innovation with Lead Users a resource that provides a temporary competitive advantage. Competition can acquire these in the future.
- The patents of Webasto Co-Creating Innovation with Lead Users are very difficult to imitate as identified by the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. This is because it is not legally allowed to imitate a patented product. Similar resources to be developed and getting a patent for them is also a costly process.
- The distribution network of Webasto Co-Creating Innovation with Lead Users is also very costly to imitate by competition as identified by the Webasto Co-Creating Innovation with Lead Users VRIO Analysis. This has been developed over the years gradually by Webasto Co-Creating Innovation with Lead Users. Competitors would have to invest a significant amount if they are to imitate a similar distribution system.
Organisation
- The financial resources of Webasto Co-Creating Innovation with Lead Users are organised to capture value as identified by the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. These resources are used strategically to invest in the right places; making use of opportunities and combatting threats. Therefore, these resources prove to be a source of sustained competitive advantage for Webasto Co-Creating Innovation with Lead Users.
- The Patents of Webasto Co-Creating Innovation with Lead Users are not well organised as identified by the Webasto Co-Creating Innovation with Lead Users VRIO Analysis. This means that the organisation is not using these patents to their full potential. An unused competitive advantage exists that can be changed into a sustainable competitive advantage if Webasto Co-Creating Innovation with Lead Users starts selling patented products before the patents expire.
- The distribution network of Webasto Co-Creating Innovation with Lead Users is organised as identified by the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users. Webasto Co-Creating Innovation with Lead Users uses this network to reach out to its customers by ensuring that products are available on all of its outlets. Therefore, these resources prove to be a source of sustained competitive advantage for Webasto Co-Creating Innovation with Lead Users.
From the VRIO Analysis of Webasto Co-Creating Innovation with Lead Users, it was identified that the financial resources and distribution network provide a sustained competitive advantage. The patents are a source of unused competitive advantage. There exists a temporary competitive advantage for employees. There exists a competitive parity for local food products. Lastly, the cost structure of Webasto Co-Creating Innovation with Lead Users is a competitive disadvantage. Research and Development is also a competitive disadvantage.
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