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VRIO Analysis of Wholesale Fish Marketing in Hong Kong
Posted by Zachary Edwards on Mar-22-2018
The VRIO Analysis of Wholesale Fish Marketing in Hong Kong will look at each of its internal resources one by one to assess whether these provide sustained competitive advantage. The Wholesale Fish Marketing in Hong Kong 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 Wholesale Fish Marketing in Hong Kong VRIO Analysis shows that the financial resources of Wholesale Fish Marketing in Hong Kong are highly valuable as these help in investing into external opportunities that arise. These also help Wholesale Fish Marketing in Hong Kong in combating external threats.
- According to the VRIO Analysis of Wholesale Fish Marketing in Hong Kong, 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 Wholesale Fish Marketing in Hong Kong VRIO Analysis shows that Wholesale Fish Marketing in Hong Kong'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 Wholesale Fish Marketing in Hong Kong's products.
- According to the VRIO Analysis of Wholesale Fish Marketing in Hong Kong, its patents are a valuable resource as these allow the firm to sell its products without competitive interference. This results in greater revenue for Wholesale Fish Marketing in Hong Kong. These patents also provide Wholesale Fish Marketing in Hong Kong with licensing revenue when it licenses these patents out to other manufacturers.
- The Wholesale Fish Marketing in Hong Kong VRIO Analysis shows that Wholesale Fish Marketing in Hong Kong’s distribution network is a valuable resource. This helps it in reaching out to more and more customers. This ensures greater revenues for Wholesale Fish Marketing in Hong Kong. It also ensures that promotion activities translate into sales as the products are easily available.
- According to the VRIO Analysis of Wholesale Fish Marketing in Hong Kong, 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 Wholesale Fish Marketing in Hong Kong VRIO Analysis shows that the research and development at Wholesale Fish Marketing in Hong Kong 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 Wholesale Fish Marketing in Hong Kong. It is recommended that the research and development teams are improved, and costs are cut for these.
Rare
- The financial resources of Wholesale Fish Marketing in Hong Kong are found to be rare according to the VRIO Analysis of Wholesale Fish Marketing in Hong Kong. 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 Wholesale Fish Marketing in Hong Kong 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 Wholesale Fish Marketing in Hong Kong and inhibit competitive advantage. This means that the local food products result in competitive parity for Wholesale Fish Marketing in Hong Kong. As this resource is valuable, Wholesale Fish Marketing in Hong Kong can still make use of this resource.
- The employees of Wholesale Fish Marketing in Hong Kong are a rare resource as identified by the VRIO Analysis of Wholesale Fish Marketing in Hong Kong. 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 Wholesale Fish Marketing in Hong Kong are a rare resource as identified by the Wholesale Fish Marketing in Hong Kong VRIO Analysis. These patents are not easily available and are not possessed by competitors. This allows Wholesale Fish Marketing in Hong Kong to use them without interference from the competition.
- The distribution network of Wholesale Fish Marketing in Hong Kong is a rare resource as identified by the VRIO Analysis of Wholesale Fish Marketing in Hong Kong. This is because competitors would require a lot of investment and time to come up with a better distribution network than that of Wholesale Fish Marketing in Hong Kong. These are also possessed by very few firms in the industry.
Imitable
- The financial resources of Wholesale Fish Marketing in Hong Kong are costly to imitate as identified by the Wholesale Fish Marketing in Hong Kong 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 Wholesale Fish Marketing in Hong Kong. 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 Wholesale Fish Marketing in Hong Kong provide it with a temporary competitive advantage that competitors can too acquire in the long run.
- The employees of Wholesale Fish Marketing in Hong Kong are also not costly to imitate as identified by the Wholesale Fish Marketing in Hong Kong VRIO Analysis. This is because other firms can also train their employees to improve their skills. These companies can also hire employees from Wholesale Fish Marketing in Hong Kong by offering better compensation packages, work environment, benefits, growth opportunities etc. This makes the employees of Wholesale Fish Marketing in Hong Kong a resource that provides a temporary competitive advantage. Competition can acquire these in the future.
- The patents of Wholesale Fish Marketing in Hong Kong are very difficult to imitate as identified by the VRIO Analysis of Wholesale Fish Marketing in Hong Kong. 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 Wholesale Fish Marketing in Hong Kong is also very costly to imitate by competition as identified by the Wholesale Fish Marketing in Hong Kong VRIO Analysis. This has been developed over the years gradually by Wholesale Fish Marketing in Hong Kong. Competitors would have to invest a significant amount if they are to imitate a similar distribution system.
Organisation
- The financial resources of Wholesale Fish Marketing in Hong Kong are organised to capture value as identified by the VRIO Analysis of Wholesale Fish Marketing in Hong Kong. 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 Wholesale Fish Marketing in Hong Kong.
- The Patents of Wholesale Fish Marketing in Hong Kong are not well organised as identified by the Wholesale Fish Marketing in Hong Kong 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 Wholesale Fish Marketing in Hong Kong starts selling patented products before the patents expire.
- The distribution network of Wholesale Fish Marketing in Hong Kong is organised as identified by the VRIO Analysis of Wholesale Fish Marketing in Hong Kong. Wholesale Fish Marketing in Hong Kong 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 Wholesale Fish Marketing in Hong Kong.
From the VRIO Analysis of Wholesale Fish Marketing in Hong Kong, 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 Wholesale Fish Marketing in Hong Kong is a competitive disadvantage. Research and Development is also a competitive disadvantage.
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