Resources and core competencies are both important parts of the Barringer/Ireland Business Model Template. What are the differences between resources and core competencies and why must an entrepreneurial firm have both resources and core competencies in order to develop an effective business model?
Answer to relevant QuestionsWhat are some examples of instances in which location is an important part of a firm’s business model? In thinking about the firm’s “basis for differentiation” as part of its business model, what differentiates Etsy from its competitors? How are a firm’s core strategy and its mission related to each other as parts of a business template? Spend some time looking at the Web site of the Craft & Hobby Association. Make a list of networking opportunities made available via membership in this organization. What are the differences among direct competitors, indirect competitors, and future competitors?
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