Hill, Schilling, & Jones $(2019)$ define the VRIO framework as $$a framework managers use to determine the quality of a company$$s resources, where V is value, R is rarity, I is inimitability, and O is for the organization$($p$.81).$ The framework helps to ensure business leaders are exploiting organizational resources and minimizing organizational slack. Additionally, the VRIO framework helps to identify the drivers of the organization$$s competitive advantage and profitability. The marketplace may fluctuate, but the assessment of the organizational resources helps to strategize for sustaining an organization's competitive advantage.

Upon completion of this assignment, you should be able to:

Assess the VRIO Framework

Resources

Watch: the VRIO FrameworkLinks to an external site.

Review: Chapter $3$ in the textbook

Assignment Instructions

Watch the VRIO Framework video and answer the questions below. Each response should be $1$ paragraph.

How does the VRIO Framework help a company$$s competitive advantage sustain over time?

Do you think it is possible for a company to be the lowest$-$cost producer in its industry and simultaneously have an output that is the most valued by customers?

How would you implement the VRIO into the company you work for? You may use a previous employer.

Submit the assignment as an online text. Use the assignment rubric to guide your efforts.