Question: Explain why firms need to study and understand their internal organization. Define value and discuss its importance. Describe the differences between tangible and intangible resources.

  • Explain why firms need to study and understand their internal organization.
  • Define value and discuss its importance.
  • Describe the differences between tangible and intangible resources.
  • Define capabilities and discuss their development.
  • Describe four criteria used to determine if resources and capabilities are core competencies.
  • Explain how firms analyze their value chain for the purpose of determining where they are able to create value when using their resources, capabilities, and core competencies.
  • Define outsourcing and discuss reasons for its use.
  • Discuss the importance of identifying internal strengths and weaknesses.
  • Discuss the importance of avoiding core rigidities.

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