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