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Blue Ocean Strategy Tools Analysis
Realā€“world Business Analysis:
Blue Ocean Strategy Tools Analysis Paper
MMBAā€“6570 Business Strategy for a Competitive Advantage
Dr. Schulz
Stephenie Wegmann
April 15, 2013
Introduction
The purpose of the blue ocean strategy is to focus on making the business itself better without focusing on the competition. Kim and Mauborgne (2005)
state that "blue ocean strategy challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that
makes the competition irrelevant" (p. x). There are several analytical tools that have been created to challenge companies to become part of the blue
ocean.
Reconstructing market boundaries to break from the competition is the first principle of the blue...show more content...
Companies have to apply the six paths framework to their current business strategy. They must systematically look across these concepts by considering
alternative industries, strategic groups, buyer groups, complementary and product service offerings, functionalā€“emotional orientation of an industry
and time (Kim & Mauborgne, 2005). While taking this systematic approach, companies can focus on the four actions framework to determine the
aspects that can be eliminated, reduced, raised or created. Companies can also integrate the strategy canvas and target noncustomers by creating
products that sets them apart from competitors and brings them to be recognized as alternatives versus substitutes.
In order to build blue oceans, it is crucial for companies to get the strategic sequence right. According to Kim & Mauborgne (2005), "companies
need to build their blue ocean strategy in the sequence of buyer utility, price, cost, and adoption" (p. 117). The starting point is to determine if the
company has an exceptional utility; second, the company needs to set a strategic price that the customer can afford; third, the company must set a cost
to still earn a profit; lastly, the company must address adoption hurdles (Kim & Mauborgne, 2005). These four factors of the blue ocean strategy
can assist in attracting the mass of the target buyer.
Testing for exceptional utility can be done with
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What Are Strategic Capabilities
1.1 What are Strategic Capabilities?
In order for an organisation to survive and prosper it needs resources and competences, this is strategic capability("The strategic position," 2007, pp.
94,110). It must use what we have e.g. human side of an organisation uses resources of managers together with something we do well which could be;
building relationships together in order to create competitive advantage and ensure longā€“term survival.(The strategic position:strategic
capabilities.Lecture Notes, 2014ā€“2015). Working within this strategic management framework results in resources working as efficiently as possible
inspired by the construct design of a business and compelled for a reason to create or highlight skills to produce an advantage
competitively.("Glossary; Strategicā€“capabilities,").
Resourceā€“based view (RBV) of strategy affirms the uniqueness of a firm's capabilities which explains the high standard of performance and
competitive advantage(The strategic position:strategic capabilities.Lecture Notes, 2014ā€“2015).
The ability of a firm to recreate and renew its strategic capabilities in order to keep up with the changing environment is called Dynamic Capability.(The
strategic position:strategic capabilities.Lecture Notes,...show more content...
The importance of this study revealed customers enhanced morale and productivity influenced turnover and ability to attract new employee talent
therefore giving an organisation an advantage in Human resources (Wanā€“Jing April & Tung Chun,
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Btec Core Competencies
The skills which I have gained in my BTEC National Diploma are transferrable and can be put into practise during my degree. I have developed
team working skills which are essential when working with tasks and presentations. I have also gained report writing skills as within my course I
will be required towrite reports and extended essays. I have become an organised individual who pays attention to detail and can manage my time
according to prioritised tasks. These are all attributes which I believe will support me as a strong and independent learner.
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Blue Ocean Strategy
Blue Ocean Strategy ā€“ Term Paper Texas A&M Universityā€“Commerce MGT 528 Table of contents Introduction3 Identification of Critical Issues &
Analysis 3 Literature Review 4 Structuralist Views5 Reconstructionist Views8 Evaluation of Alternatives10 Pro's and Con's of Both Views 11
Business Model 13 Most Effective Strategy 14 Recommendations15 Conclusion 15 References 17 Appendices 20 Introduction Corporate Strategy is
an important part of the theory and practice of management. For top management, strategy is what a map or a compass is to a sailor on a ship; it is a
map for navigating the corporate ship...show more content...
Inasmuch, the reconstructionist's entire theory rests upon the principle of value innovation which, according to Kim & Mauborgne (2005), is a matter
of creating powerful leaps in value for the firm and its buyers, rendering rivals obsolete and unleashing new demand. In direct support, Halligan (2006)
espouses, "The only way to beat the competition is to stop trying to beat the competition." Converse leanings rest with the structuralist's school of
thought which favors ferocious headā€“toā€“head competition. Structuralist Views According to Ormanidhi & Stringa (2008), how firms compete and what
strategies they choose are imperative questions for companies in every sector of the business world. Their writings state that improved understanding
of a firm's competitiveness would serve as input to improve policies concerning competition and related issues; and improved policies, will provide
valuable support to efforts to continuously develop markets and businesses. Within, the author's place significant emphasis on the concept of
competition with echoes from Porter's five forces model (see Appendix 6). The model illustrates the five forces, which hinge on the determinants of the
industry's overall competitiveness and profitability, which are: threat of new entry, intensity of rivalry among existing firms, pressure from substitute
products, bargaining power of buyers, and bargaining power of suppliers. Richard Randall
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Internal Analysis of Rolls Royce
ROLLSā€“ROYCE: INTERNAL ANALYSIS For the purpose of internal analysis, I have selected civil aerospace SBU of Rollsā€“Royce. This analysis has
been done considering the fact that the case study was published in year 2005. Financial Analysis: Rollsā€“Royce has been generating higher margins in
past few years. In last four years i.e. from 2002 to 2006 the operating profit has grown from Š’Šˆ168 million to Š’Šˆ692 million with the annual growth
rate of 42.5%. The net profit has also increased at compound annual growth rate of 71.3% from Š’Šˆ53 million to Š’Šˆ998 million in these four years.
These figures are the indicators of a strong financial performance. It is evident from the figures that the high levels of margin in their field of operation
are very...show more content...
He suggested that sustained competitive advantage derives from the resources and capabilities a firm controls that are valuable, rare, imperfectly
imitable, and not substitutable. He further added that the resources and capabilities can be viewed in form of tangible and intangible assets. There
are four different categories of resources financial, physical, human, and organization. Barney and Hesterly (2006), describe the VRIO framework as
a good tool to examine the internal environment of a firm. They state that VRIO "stands for four questions one must ask about a resource or
capability to determine its competitive potential: 1. The Question of Value: Does a resource enable a firm to exploit an environmental opportunity,
and/or neutralize an environmental threat? 2. The Question of Rarity: Is a resource currently controlled by only a small number of competing firms?
[are the resources used to make the products/services or the products/services themselves rare?] 3. The Question of Imitability: do firms without a
resource face a cost disadvantage in obtaining or developing it? [is what a firm is doing difficult to imitate?] 4. The Question of Organization: Are a
firm's other policies and procedures organized to support
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Is Nordstrom Core Competencies
(P1.1) In formulating a business strategy, it is a crucial factor to determine what the organization's mission, vision, objectives and core competencies
are because it sets an idea on what the organization should do and what purpose do they have in the industry to contribute to their customers. It also
helps what markets should they target and what action should they plan to have a competitive advantage. The mission of Nordstrom is to provide
outstanding service every day, one customer at a time by offering the customer the best possible selection, quality and value. And their vision is to
serve their customers better, to always be relevant in their lives and to form lifelong relationships and while serving their customer faceā€“toā€“face is the
foundation of how they've historically served them. Today, customers seek their...show more content...
Nordstrom has its objectives in developing their organization which are to increase frequency of visits and leverage new fashion lines, appeal to the
socialization needs of suburb, and draw more socialā€“oriented traffic. The core competency of an organization shows what makes them unique in order
to have an advantage in competing with competitors in the same industry. Nordstrom's core competency is rooted in its strategy providing superlative
customer service. Nordstrom values their employees as their most valuable asset or capital in the organization. The competitive advantage of
Nordstrom is that they have extraordinary services, high wages, promotion possibilities, product availability, their image, customer loyalty, and
patronizing sales in which source is superior customer service. Their current competitive strategy is broad differentiation strategy where Nordstrom
seeks to differentiate their product or offering from competitor in ways that will appeal to a broad range of
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28
IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT, VOL. 49, NO. 1, FEBRUARY 2002
Core Competence for Sustainable Competitive Advantage: A Structured Methodology for Identifying Core Competence
Khalid Hafeez, YanBing Zhang, and Naila Malak
Abstractā€“Core competencies are the crown jewels of a company and, therefore, should be carefully nurtured and developed. Companies can determine
their future business directions based on the strengths of competencies. However, because generalized terms such as resource, asset, capability, and
competence are not clearly explained in connection with competence theory, these posing difficulties in understanding many contemporarymanagement
concepts. In this paper, we provide a summary of the recent...show more content...
III. CAPABILITY IS FORMED BY THE INTEGRATION OF RESOURCES Table I shows that competitive advantage is gained by the strategic
deployment of some resources, capabilities, and/or competencies. Literature review suggests that concepts such as resources, capabilities,
competencies, and core competencies are not clearly defined. We have found that only the resource itself is defined with a wide range of meanings.
On one hand, resources are defined as "anything which could be thought of as a strength or weakness of a firm" [9]. This "anything" may include
physical resources (e.g., raw materials, equipment, financial endowment, etc.), human resources (e.g., training, experience, skills, etc.), as well as
organizational resources (e.g., firm image, process, routines, etc.) [4], [14]. Note that with this definition, capabilities are considered as part of
resource. On the other hand, capabilities are not part of resource because of their dynamic "doing" nature. Many authors argue that capabilities are the
result of resource deployment and organizational processes. Capabilities use resources and, therefore, are more dynamic and complex entity and should
be treated independent to resources [15]. We feel more comfortable with Grant [5] definition who argues: "Resources are inputs into the
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3.1.3Firm Capabilities
A firm possesses two different kinds of capabilities, the so called ordinary capabilities and the dynamic capabilities. They are quite distinct in theory
and in practice:
The ordinary capabilities of a firm refer to its ability to use and coordinate tangible and intangible resources with the aim to reach a desired goal
(Teece, 2014).
The dynamic capabilities of a firm refer to its ability to build upon existing capabilities and at the same time to develop new capabilities (Teece, 2014).
The basic distinctions are outlined in Table 3 below from a practical point of view: Ordinary CapabilitiesDynamic Capabilities
PurposeTechnical efficiencyCongruence with opportunities
Mode of attainabilityBuy or buildBuild
Tripartite schemaOperate, administrate, governSense, seize, transform
Key routinesBest practicesSignature processes
Managerial emphasisCost controlEntrepreneurial leadership
PriorityDoing things rightDoing the right things
ImitabilityRelatively imitableInimitable
ResultEfficiencyInnovation
Table 3: Some Differences between Ordinary and Dynamic Capabilities (Teece, 2014)
Ordinary capabilities are focused on the allocation of...show more content...
Sustained competitive success requires continuous sensing, seizing, and transforming in order to overcome the challenges that changing customers,
competitors and technologies brings (Teece, 2014). Such changes in the environment of the company usually occur over time. This means that while
making the transition companies in such industries have to maintain certain former core competencies while building up new ones. The core
competencies are defined as a combination of tangible and intangible resources and skill which distinguishes the company from other market players.
The concept of core competencies foresees that
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Core Competencies Of An Organization
Core competencies of any company are based around what make that company uniquely competitive within an industry. Boston Scientific's core
competencies are innovation, focus product and global growth. Innovation at Boston Scientific is based around two things, their products, and trying
each year to be the leader in medical technology (Boston Scientific, 2014). Second, within Boston Scientific annual report for 2013 under the heading
"Innovation that Matters" it discusses the shift in the health care market to "valueā€“based health care, and they are looking for a solution in clinical and
economical ways." (Boston Scientific, 2013). With the changes upon us now having a new health care reform in place this is a great standpoint to
have, setting Boston Scientific apart from their competitors. Focus product is a great strength of Boston Scientific because of how limited it is. While
many competitors focus to be involved in many segments of health care, Boston Scientific has limited themselves to three segments which include
MedSurg, Rhythm Management and Cardiovascular (Boston Scientific, 2014). This allows Boston Scientific to spend their time, money and energy to
constantly improve each segment. Global growth continues to be a focus of Boston Scientific to strengthen their company. In 2014 Boston Scientific
was able to grow there emerging markets by 18% growing to 10% of the company's total annual sales (Boston Scientific, 2014). This comes of high
importance based on the
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Organization's Core Competencies
Vision, and Values
"FPS is the model law enforcement and critical infrastructure protection organization for the Nation's homeland security enterprise, protecting people
and Federal facilities, sharing intelligence and threat information, ensuring that Federal facility security investments are based upon risk, and
measuring and reporting on outcomes", (U.S. Department of Homeland Security, 2015, p.12)
What are your organization's core competencies, and what is their relationship to your mission?
Customer Service: Enhance customer relations by effectively addressing security concerns with increased response times insuring that services
rendered are effective and efficient for mitigating vulnerabilities.
Representing the agency? Develop
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My Fall Score Analysis
For me personally, I have never reflected on my STAR Reader results as I have this year. I seemed to be more consistent than in the past and
because of this I can give an accurate explanation for my scores. My fall score was an 11.4 which I was happy with, but I was not necessarily too
surprised. I really wanted to see if I could show some improvement next time I took it or at least not show a loss in comprehension like in previous
years. My winter score was an 11.8 which, to my satisfaction, was higher than my previous score. My spring score was where I really made some
reflection. Upon getting the same exact score as in the winter (an 11.8), I thought about why I may not have improved but earlier I had. At first is was
difficult to see a...show more content...
As someone who wants to become a doctor, reading comprehension, writing, and grammar are extremely crucial. Every year I want to increase my
vocabulary (especially in the scientific field), improve my grammar, and be able to apply themes in books to real life situations easily. Improvement of
my skills will increase with the continuation of being an avid learner, but focus on improvement during my own time is a must for noticeable short
term improvement. I think that "Duolingo" will help with my improvement in grammar. This is because I noticed rapid improvement in grammar upon
greater comprehension of latinā€“based languages. Duolingo will be a great way to improve my French, while also improving my english grammar. I
think "Free Rice" is a good website for improving my vocabulary because not only does it have levels allowing for a wide range of comprehension and
availability for improvement, but it gives a motivation to continue learning in that they donate rice for each question you get right. I think that
"Upworthy" is a good tool for increasing my real world application. Using this site, I can learn about important matters and as I improve my reading
comprehension, I hopefully will be able to apply themes to these matters and gain a new point of view. Using these resources is important not only
because many students lose much of
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Amana Takaful Core Competencies
Doyle & Stern (2006) explains that a competitive advantage needs to be meticulously crafted over a period of time by channeling the organizations
resources and selecting carefully crafted marketing strategies. Figure 1.1.1 illustrates the organizational resources of Amana Takaful as derived from
the strategic audit (Appendix 1) which can enable the company to outperform its competitors and earn the share of hearts, minds, markets and higher
than average profits. Figure 1.1.1 Resources of Amana Takaful These resources generally show and direct the company of how and what to use, in
order to create value and earn returns above average by methodically leveraging their resources, core competencies and capabilities to take advantages
of the opportunities arising in the external environment. The role of the firm's resources is to provide a foundation for...show more content...
It may often seem too easy to think of a whole list of things that a company could do well, however; the 2 authors go on two give 3 ways of identifying
core competencies as mentioned below. Relevance: ability to significantly add value to the customers Difficulty to imitate: difficulty to imitate and
build upon sustainable advantage Accessibility to wide range of markets: should be able to open up to a few potential markets Asset
ValuableRareInimitableNon SubstitutableImplications for competitiveness Takaful Excellence for 17 yearsYesYesYesYesSustain CA Skilled
employees with specialist competencies YesYesYesYesSustain CA Sales and channel effectivenessYesNoNoNoCompetitive parity Marketing capability
( shariah complaint) YesYesYesNoSustainable
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Business Strategy Of Nandos
Section 1: Strategy and Sustainability: The Expression of Organizational Values and Vision Introduction For this Business Strategy Report, I have
selected a restaurant chain named Nando's. It was established in 1987 by two friends, Fernando Duarte and Robert Brozin (Nando's.com, 2017).
Although being a South African brand it has Portuguese influence and the restaurant chain depicts these designs. Nando's specialty is flameā€“grilled
chicken spiced with their unique selection of marinade sauces and spices ranging from mild to extra hot and for those individuals not into the hot
stuff, there's a lemon and herb option. It also has other selected food options to choose from in their attractive menu. Its niche market is working
middle class male and female customers who enjoy spicy food and casual dining. It also caters for kids and families. Analysis of Nando's For a
business to be successful and have a competitive advantage, it is important to evaluate the company's resources and capabilities (Pitt & Koufopoulos,
2012). Resources in a company are the productive assets owned (tangible or intangible) whereas capabilities are what the company can do with this
(Grant, 2010). "Establishing competitive...show more content...
Nandos Vision is "to take the world's best tasting chicken to the world" (cite here....) Authenticated by its current presence in 30 countries and about a
1000 outlets globally (Nando's.com, 2017). Supporting its mission and vision is its core values which are "passion, pride, integrity, courage and
family" (Omarjee,
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Knowledge Management At World Bank
MGTā€“703
KNOWLEDGE MANAGEMENT
CASE STUDY ON
KNOWLEDGE MANAGEMENT AT WORLD BANK
SUBMITTED TO:SUBMITTED BY:
JOANNA DAIWAQAS ALI 11200695
Executive Summary
The main concept of this report is to discuss the concept of knowledge management and identify the existing knowledge reservoirs in World Bank. I
will be focusing on Knowledge in people, Knowledge in artifacts and Knowledge in organizational entities. After that, I will be discussing the
classifications of knowledge management in World Bank by using explicit or tacit knowledge, declarative and procedural knowledge and general,
contextually specific and technically specific knowledge. Furthermore, the infrastructure used to support knowledge management will be discussed
followed by knowledge management solutions. I will be discussing some challenges and giving some recommendations to be followed by knowledge
management officer.
The objectives of the case study are
(a)To learn the thorough concept of knowledge management.
(b)To find the classifications of knowledge at World Bank.
(c)To learn how to use the concept of storing, sharing and communicate the knowledge.
Table of Contents
ContentsPage No.
The Executive Summary
Introduction.............................................................................................. 4
General Knowledge reservoirs existing at World Bank ........................................... 4
Classifications of knowledge management
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Introduction:
Having a good strategy to maintain the sustainable competitive advantages for the firm is very important. Resources and capabilities play the key
factors in the every firm's operation. It is not only a reflection of the firm's current situation, but also a useful tool for managers to have better strategies
for future growth (Grant, 2013, 112ā€“113). Canon is an extraordinary example of using the resources and capabilities theory to contribute its success.
Producing a new product and promoting in the market successfully while Xerox is a strong competitor is extremely difficult. Originally a small
organisation, now Canon has become the second largest copier distributor with revenue of $5 billion (C1038). However, managing resources and
capabilities still has some issues and it could not be applied widely. Hence, this paper aims to explain the specific reasons of Canon's success and
provide an overview that support the firms to manage their resources and capabilities more effectively.
How Canon created the sustainable competitive advantages based on Resourceā€“based view (RBV) theory?
Resources and capabilities play an important role in the firm's sustainability (Grant, 2013, 112). In terms of ensuring firm's growth, the resourceā€“based
view (RBV) is the most approachable framework for those firms having an effective strategic management. Emphasizing the importance of the internal
factor (firm's resource), on one hand, the RBV is not only evaluating the strengths and
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A Guide to Case Analysis
I keep six honest serving men (They taught me all I knew); Their names are What and Why and When; And How and Where and Who. Rudyard Kipling
2
STRATEGY: Core Concepts and Analytical Approaches
I
n most courses in strategic management, students use cases about actual companies to practice strategic analysis and to gain some experience in the
tasks of crafting and implementing strategy. A case sets forth, in a factual manner, the events and organizational circumstances surrounding a particular
managerial situation. It puts readers at the scene of the action and familiarizes them with all the relevant circumstances. A case on strategic
management can concern a whole industry, a single organization, or some part...show more content...
Usually, case discussions produce good arguments for more than one course of action. Differences of opinion nearly always exist. Thus, should a class
discussion conclude without a strong, unambiguous consensus on what do to, don't grumble too much when you are not told what the answer is or
what the company actually did. Just remember that in the business world answers don't come in conclusive blackā€“andā€“white terms. There are nearly
always several feasible courses of action and approaches, each of which may work out satisfactorily. Moreover, in the business world, when one
elects a particular course of action, there is no peeking at the back of a book to see if you have chosen the best thing to do and no one to turn to for a
provably correct answer. The best test of whether management action is "right' or "wrong" is results. If the results of an action turn out to be "good,"
the decision to take it may be presumed "right." If not, then the action chosen was "wrong" in the sense that it didn't work out Hence, the important
thing for you to understand about analyzing cases is that the managerial exercise of identifying, diagnosing, and recommending is aimed at building
your skills of business judgment. Discovering what the company actually did is no more than frosting on the cakeā€“the actions that company managers
actually took may or may not be
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The Blue Nile Strategy: Global Marketing Strategy
3.1 Blue Nile Strategy Blue Nile's strategy is designed to increase their brand recognition through their product and sales, and invest to expand their
operation internationally. Besides that, Blue Nile do offer lower price for their product where employ efficient of their supply chain to decrease their
overhead cost while maintain its equity quality to produce more customer traffic and to promote repeat purchase which target current customer than
create new customers. Besides that, Blue Nile has also provide well educate information about diamond and rich information online shopping
experience for new customer to increase consumer knowledge to increase their internet traffic too.
3.2 Generic Competitive Strategies use by Blue Nile Generic...show more content...
This strategy make Blue Nile manage well in inventory management and merchandising which allows Blue Nile to cut off those diamond prices in
order to boost their sales which lead them success.
3.2.2 Focus Strategy Blue Nile has applied focus strategy as one of the generic competitive strategy which target on specific customer to satisfy their
needs in niche market. Although Blue Nile able to offer low price of diamond, but they believe that still not everybody could able to purchase diamond
or gems, so they rather focusing expand in niche market but not in differentiate market which they believe could bring them more profit with effective
less advertisement and operating cost.
3.2.3 Differentiation Strategy Blue Nile able to form a good relationship with suppliers and they could obtain offer from those suppliers who just
provide to them of some unique jewellery or gems where customer cannot purchase or order it from other their competitors. Blue Nile also provide
various of contact method to let consumer could contact them through various of ways which can found on their website which include, email, phone
and live chat which Blue Nile has provide professional training to their staff which is unique compare to other
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V.R.I.O. Analysis
A FRAMEWORK FOR ANALYSIS : VRIO
Š’ā€¢Resourceā€“based analysis of the firm determines which resources and capabilities result in which strengths or weaknesses
Š’ā€¢Strategies are to be implemented which exploit (or build) strengths and avoid (or eliminate) weaknesses
Š’ā€¢What constitutes a strength or weakness is partially a function of the external environment
Š’ā€¢Framework for analysis: VRIO ā€“ resources and capabilities should be o Valuable o Rare o Inimitable o Organization can effectively exploit them
VALUE of resources and capabilities
Š’ā€¢A VALUABLE resource or capability (or a combination thereof) must o Contribute to fulfillment of customer 's needs o At a price the consumer is
willing to pay, which is determined by
...show more content...
Rare? Costly to Imitate ?Exploitable by the Organization?Competitive implicationsEconomic performanceStrengths or Weaknesses
Noā€“ā€“NoCompetitive DisadvantageBelow normalWeakness
YesNoā€“ toCompetitive ParityNormalStrength
YesYesNoTemporary competitive advantageAbove normalStrength and distinctive competence
YesYesYesYesSustained competitive advantageAbove normalStrength and sustainable distinctive competence
Source : Barney, 1997, Tables 5.2 and 5.3, p.163.
Threats to sustainability
Š’ā€¢Imitation or substitution
Š’ā€¢Market entry
Š’ā€¢Powerful buyers and suppliers
Š’ā€¢Unpredictable changes in external environment
Š’ā€¢Factors beyond a firm 's control (bad luck)
Limitations of the RBV
Š’ā€¢Presented as static concept ā€“ however, many firms need to be able to cope with turbulent environments
Š’ā€¢Suggests that managers may have limited ability to create sustained competitive advantages (empirical support by "perpetually failing firms" ā€“ firms
that consistently earn normal or belowā€“normal returns
Š’ā€¢Difficult to test empirically ā€“ data problem (at the level of the unit of analysis, Le., resources and capabilities)
Š’ā€¢What is the appropriate level of analysis? How deeply does one have to look?
Principles of capabilitiesā€“based competition
Goal : Build difficultā€“toā€“imitate organizational capabilities that distinguish a company from its competitors
Principles
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might suggest that the best way in which to gain knowledge on a candidate is through reference checking with previous employers.
As stated in the literature review, social media is considered more exponential than the traditional one (Cover, 2004). This exponential change seems to
have escalated to the point where almost all recruiting is done online, with some opinion that even job sites will diminish in upcoming years.
Leaderā€“Chivee and Cowan (2008) reported that this has changed the face of industry alongside the face of social networking in general, while
interviewees also had recommendations for improvement of social networking for business practices. In the minds of the experts, making an online
solution that is not limited to the features of sites such as LinkedIn or Facebook is the best option....show more content...
Meanwhile, the research objectives were to: i) assess the effectiveness of social media use in recruitment, ii) examine trends in using the technology, iii)
examining the role of social media in jobā€“hunting from the jobā€“seekers position and iv) provide recommendations for improving practice or gaining
more knowledge through additional research efforts; here it is evident that the first four were met, while the fifth is addressed through the following
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Blue Ocean Strategy Tools Analysis

  • 1. Blue Ocean Strategy Tools Analysis Realā€“world Business Analysis: Blue Ocean Strategy Tools Analysis Paper MMBAā€“6570 Business Strategy for a Competitive Advantage Dr. Schulz Stephenie Wegmann April 15, 2013 Introduction The purpose of the blue ocean strategy is to focus on making the business itself better without focusing on the competition. Kim and Mauborgne (2005) state that "blue ocean strategy challenges companies to break out of the red ocean of bloody competition by creating uncontested market space that makes the competition irrelevant" (p. x). There are several analytical tools that have been created to challenge companies to become part of the blue ocean. Reconstructing market boundaries to break from the competition is the first principle of the blue...show more content... Companies have to apply the six paths framework to their current business strategy. They must systematically look across these concepts by considering alternative industries, strategic groups, buyer groups, complementary and product service offerings, functionalā€“emotional orientation of an industry and time (Kim & Mauborgne, 2005). While taking this systematic approach, companies can focus on the four actions framework to determine the aspects that can be eliminated, reduced, raised or created. Companies can also integrate the strategy canvas and target noncustomers by creating products that sets them apart from competitors and brings them to be recognized as alternatives versus substitutes. In order to build blue oceans, it is crucial for companies to get the strategic sequence right. According to Kim & Mauborgne (2005), "companies need to build their blue ocean strategy in the sequence of buyer utility, price, cost, and adoption" (p. 117). The starting point is to determine if the company has an exceptional utility; second, the company needs to set a strategic price that the customer can afford; third, the company must set a cost to still earn a profit; lastly, the company must address adoption hurdles (Kim & Mauborgne, 2005). These four factors of the blue ocean strategy can assist in attracting the mass of the target buyer. Testing for exceptional utility can be done with
  • 2. Get more content on HelpWriting.net
  • 3. What Are Strategic Capabilities 1.1 What are Strategic Capabilities? In order for an organisation to survive and prosper it needs resources and competences, this is strategic capability("The strategic position," 2007, pp. 94,110). It must use what we have e.g. human side of an organisation uses resources of managers together with something we do well which could be; building relationships together in order to create competitive advantage and ensure longā€“term survival.(The strategic position:strategic capabilities.Lecture Notes, 2014ā€“2015). Working within this strategic management framework results in resources working as efficiently as possible inspired by the construct design of a business and compelled for a reason to create or highlight skills to produce an advantage competitively.("Glossary; Strategicā€“capabilities,"). Resourceā€“based view (RBV) of strategy affirms the uniqueness of a firm's capabilities which explains the high standard of performance and competitive advantage(The strategic position:strategic capabilities.Lecture Notes, 2014ā€“2015). The ability of a firm to recreate and renew its strategic capabilities in order to keep up with the changing environment is called Dynamic Capability.(The strategic position:strategic capabilities.Lecture Notes,...show more content... The importance of this study revealed customers enhanced morale and productivity influenced turnover and ability to attract new employee talent therefore giving an organisation an advantage in Human resources (Wanā€“Jing April & Tung Chun, Get more content on HelpWriting.net
  • 4. Btec Core Competencies The skills which I have gained in my BTEC National Diploma are transferrable and can be put into practise during my degree. I have developed team working skills which are essential when working with tasks and presentations. I have also gained report writing skills as within my course I will be required towrite reports and extended essays. I have become an organised individual who pays attention to detail and can manage my time according to prioritised tasks. These are all attributes which I believe will support me as a strong and independent learner. Get more content on HelpWriting.net
  • 5. Blue Ocean Strategy Blue Ocean Strategy ā€“ Term Paper Texas A&M Universityā€“Commerce MGT 528 Table of contents Introduction3 Identification of Critical Issues & Analysis 3 Literature Review 4 Structuralist Views5 Reconstructionist Views8 Evaluation of Alternatives10 Pro's and Con's of Both Views 11 Business Model 13 Most Effective Strategy 14 Recommendations15 Conclusion 15 References 17 Appendices 20 Introduction Corporate Strategy is an important part of the theory and practice of management. For top management, strategy is what a map or a compass is to a sailor on a ship; it is a map for navigating the corporate ship...show more content... Inasmuch, the reconstructionist's entire theory rests upon the principle of value innovation which, according to Kim & Mauborgne (2005), is a matter of creating powerful leaps in value for the firm and its buyers, rendering rivals obsolete and unleashing new demand. In direct support, Halligan (2006) espouses, "The only way to beat the competition is to stop trying to beat the competition." Converse leanings rest with the structuralist's school of thought which favors ferocious headā€“toā€“head competition. Structuralist Views According to Ormanidhi & Stringa (2008), how firms compete and what strategies they choose are imperative questions for companies in every sector of the business world. Their writings state that improved understanding of a firm's competitiveness would serve as input to improve policies concerning competition and related issues; and improved policies, will provide valuable support to efforts to continuously develop markets and businesses. Within, the author's place significant emphasis on the concept of competition with echoes from Porter's five forces model (see Appendix 6). The model illustrates the five forces, which hinge on the determinants of the industry's overall competitiveness and profitability, which are: threat of new entry, intensity of rivalry among existing firms, pressure from substitute products, bargaining power of buyers, and bargaining power of suppliers. Richard Randall Get more content on HelpWriting.net
  • 6. Internal Analysis of Rolls Royce ROLLSā€“ROYCE: INTERNAL ANALYSIS For the purpose of internal analysis, I have selected civil aerospace SBU of Rollsā€“Royce. This analysis has been done considering the fact that the case study was published in year 2005. Financial Analysis: Rollsā€“Royce has been generating higher margins in past few years. In last four years i.e. from 2002 to 2006 the operating profit has grown from Š’Šˆ168 million to Š’Šˆ692 million with the annual growth rate of 42.5%. The net profit has also increased at compound annual growth rate of 71.3% from Š’Šˆ53 million to Š’Šˆ998 million in these four years. These figures are the indicators of a strong financial performance. It is evident from the figures that the high levels of margin in their field of operation are very...show more content... He suggested that sustained competitive advantage derives from the resources and capabilities a firm controls that are valuable, rare, imperfectly imitable, and not substitutable. He further added that the resources and capabilities can be viewed in form of tangible and intangible assets. There are four different categories of resources financial, physical, human, and organization. Barney and Hesterly (2006), describe the VRIO framework as a good tool to examine the internal environment of a firm. They state that VRIO "stands for four questions one must ask about a resource or capability to determine its competitive potential: 1. The Question of Value: Does a resource enable a firm to exploit an environmental opportunity, and/or neutralize an environmental threat? 2. The Question of Rarity: Is a resource currently controlled by only a small number of competing firms? [are the resources used to make the products/services or the products/services themselves rare?] 3. The Question of Imitability: do firms without a resource face a cost disadvantage in obtaining or developing it? [is what a firm is doing difficult to imitate?] 4. The Question of Organization: Are a firm's other policies and procedures organized to support Get more content on HelpWriting.net
  • 7. Is Nordstrom Core Competencies (P1.1) In formulating a business strategy, it is a crucial factor to determine what the organization's mission, vision, objectives and core competencies are because it sets an idea on what the organization should do and what purpose do they have in the industry to contribute to their customers. It also helps what markets should they target and what action should they plan to have a competitive advantage. The mission of Nordstrom is to provide outstanding service every day, one customer at a time by offering the customer the best possible selection, quality and value. And their vision is to serve their customers better, to always be relevant in their lives and to form lifelong relationships and while serving their customer faceā€“toā€“face is the foundation of how they've historically served them. Today, customers seek their...show more content... Nordstrom has its objectives in developing their organization which are to increase frequency of visits and leverage new fashion lines, appeal to the socialization needs of suburb, and draw more socialā€“oriented traffic. The core competency of an organization shows what makes them unique in order to have an advantage in competing with competitors in the same industry. Nordstrom's core competency is rooted in its strategy providing superlative customer service. Nordstrom values their employees as their most valuable asset or capital in the organization. The competitive advantage of Nordstrom is that they have extraordinary services, high wages, promotion possibilities, product availability, their image, customer loyalty, and patronizing sales in which source is superior customer service. Their current competitive strategy is broad differentiation strategy where Nordstrom seeks to differentiate their product or offering from competitor in ways that will appeal to a broad range of Get more content on HelpWriting.net
  • 8. 28 IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT, VOL. 49, NO. 1, FEBRUARY 2002 Core Competence for Sustainable Competitive Advantage: A Structured Methodology for Identifying Core Competence Khalid Hafeez, YanBing Zhang, and Naila Malak Abstractā€“Core competencies are the crown jewels of a company and, therefore, should be carefully nurtured and developed. Companies can determine their future business directions based on the strengths of competencies. However, because generalized terms such as resource, asset, capability, and competence are not clearly explained in connection with competence theory, these posing difficulties in understanding many contemporarymanagement concepts. In this paper, we provide a summary of the recent...show more content... III. CAPABILITY IS FORMED BY THE INTEGRATION OF RESOURCES Table I shows that competitive advantage is gained by the strategic deployment of some resources, capabilities, and/or competencies. Literature review suggests that concepts such as resources, capabilities, competencies, and core competencies are not clearly defined. We have found that only the resource itself is defined with a wide range of meanings. On one hand, resources are defined as "anything which could be thought of as a strength or weakness of a firm" [9]. This "anything" may include physical resources (e.g., raw materials, equipment, financial endowment, etc.), human resources (e.g., training, experience, skills, etc.), as well as organizational resources (e.g., firm image, process, routines, etc.) [4], [14]. Note that with this definition, capabilities are considered as part of resource. On the other hand, capabilities are not part of resource because of their dynamic "doing" nature. Many authors argue that capabilities are the result of resource deployment and organizational processes. Capabilities use resources and, therefore, are more dynamic and complex entity and should be treated independent to resources [15]. We feel more comfortable with Grant [5] definition who argues: "Resources are inputs into the Get more content on HelpWriting.net
  • 9. 3.1.3Firm Capabilities A firm possesses two different kinds of capabilities, the so called ordinary capabilities and the dynamic capabilities. They are quite distinct in theory and in practice: The ordinary capabilities of a firm refer to its ability to use and coordinate tangible and intangible resources with the aim to reach a desired goal (Teece, 2014). The dynamic capabilities of a firm refer to its ability to build upon existing capabilities and at the same time to develop new capabilities (Teece, 2014). The basic distinctions are outlined in Table 3 below from a practical point of view: Ordinary CapabilitiesDynamic Capabilities PurposeTechnical efficiencyCongruence with opportunities Mode of attainabilityBuy or buildBuild Tripartite schemaOperate, administrate, governSense, seize, transform Key routinesBest practicesSignature processes Managerial emphasisCost controlEntrepreneurial leadership PriorityDoing things rightDoing the right things ImitabilityRelatively imitableInimitable ResultEfficiencyInnovation Table 3: Some Differences between Ordinary and Dynamic Capabilities (Teece, 2014) Ordinary capabilities are focused on the allocation of...show more content... Sustained competitive success requires continuous sensing, seizing, and transforming in order to overcome the challenges that changing customers, competitors and technologies brings (Teece, 2014). Such changes in the environment of the company usually occur over time. This means that while making the transition companies in such industries have to maintain certain former core competencies while building up new ones. The core competencies are defined as a combination of tangible and intangible resources and skill which distinguishes the company from other market players. The concept of core competencies foresees that Get more content on HelpWriting.net
  • 10. Core Competencies Of An Organization Core competencies of any company are based around what make that company uniquely competitive within an industry. Boston Scientific's core competencies are innovation, focus product and global growth. Innovation at Boston Scientific is based around two things, their products, and trying each year to be the leader in medical technology (Boston Scientific, 2014). Second, within Boston Scientific annual report for 2013 under the heading "Innovation that Matters" it discusses the shift in the health care market to "valueā€“based health care, and they are looking for a solution in clinical and economical ways." (Boston Scientific, 2013). With the changes upon us now having a new health care reform in place this is a great standpoint to have, setting Boston Scientific apart from their competitors. Focus product is a great strength of Boston Scientific because of how limited it is. While many competitors focus to be involved in many segments of health care, Boston Scientific has limited themselves to three segments which include MedSurg, Rhythm Management and Cardiovascular (Boston Scientific, 2014). This allows Boston Scientific to spend their time, money and energy to constantly improve each segment. Global growth continues to be a focus of Boston Scientific to strengthen their company. In 2014 Boston Scientific was able to grow there emerging markets by 18% growing to 10% of the company's total annual sales (Boston Scientific, 2014). This comes of high importance based on the Get more content on HelpWriting.net
  • 11. Organization's Core Competencies Vision, and Values "FPS is the model law enforcement and critical infrastructure protection organization for the Nation's homeland security enterprise, protecting people and Federal facilities, sharing intelligence and threat information, ensuring that Federal facility security investments are based upon risk, and measuring and reporting on outcomes", (U.S. Department of Homeland Security, 2015, p.12) What are your organization's core competencies, and what is their relationship to your mission? Customer Service: Enhance customer relations by effectively addressing security concerns with increased response times insuring that services rendered are effective and efficient for mitigating vulnerabilities. Representing the agency? Develop Get more content on HelpWriting.net
  • 12. My Fall Score Analysis For me personally, I have never reflected on my STAR Reader results as I have this year. I seemed to be more consistent than in the past and because of this I can give an accurate explanation for my scores. My fall score was an 11.4 which I was happy with, but I was not necessarily too surprised. I really wanted to see if I could show some improvement next time I took it or at least not show a loss in comprehension like in previous years. My winter score was an 11.8 which, to my satisfaction, was higher than my previous score. My spring score was where I really made some reflection. Upon getting the same exact score as in the winter (an 11.8), I thought about why I may not have improved but earlier I had. At first is was difficult to see a...show more content... As someone who wants to become a doctor, reading comprehension, writing, and grammar are extremely crucial. Every year I want to increase my vocabulary (especially in the scientific field), improve my grammar, and be able to apply themes in books to real life situations easily. Improvement of my skills will increase with the continuation of being an avid learner, but focus on improvement during my own time is a must for noticeable short term improvement. I think that "Duolingo" will help with my improvement in grammar. This is because I noticed rapid improvement in grammar upon greater comprehension of latinā€“based languages. Duolingo will be a great way to improve my French, while also improving my english grammar. I think "Free Rice" is a good website for improving my vocabulary because not only does it have levels allowing for a wide range of comprehension and availability for improvement, but it gives a motivation to continue learning in that they donate rice for each question you get right. I think that "Upworthy" is a good tool for increasing my real world application. Using this site, I can learn about important matters and as I improve my reading comprehension, I hopefully will be able to apply themes to these matters and gain a new point of view. Using these resources is important not only because many students lose much of Get more content on HelpWriting.net
  • 13. Amana Takaful Core Competencies Doyle & Stern (2006) explains that a competitive advantage needs to be meticulously crafted over a period of time by channeling the organizations resources and selecting carefully crafted marketing strategies. Figure 1.1.1 illustrates the organizational resources of Amana Takaful as derived from the strategic audit (Appendix 1) which can enable the company to outperform its competitors and earn the share of hearts, minds, markets and higher than average profits. Figure 1.1.1 Resources of Amana Takaful These resources generally show and direct the company of how and what to use, in order to create value and earn returns above average by methodically leveraging their resources, core competencies and capabilities to take advantages of the opportunities arising in the external environment. The role of the firm's resources is to provide a foundation for...show more content... It may often seem too easy to think of a whole list of things that a company could do well, however; the 2 authors go on two give 3 ways of identifying core competencies as mentioned below. Relevance: ability to significantly add value to the customers Difficulty to imitate: difficulty to imitate and build upon sustainable advantage Accessibility to wide range of markets: should be able to open up to a few potential markets Asset ValuableRareInimitableNon SubstitutableImplications for competitiveness Takaful Excellence for 17 yearsYesYesYesYesSustain CA Skilled employees with specialist competencies YesYesYesYesSustain CA Sales and channel effectivenessYesNoNoNoCompetitive parity Marketing capability ( shariah complaint) YesYesYesNoSustainable Get more content on HelpWriting.net
  • 14. Business Strategy Of Nandos Section 1: Strategy and Sustainability: The Expression of Organizational Values and Vision Introduction For this Business Strategy Report, I have selected a restaurant chain named Nando's. It was established in 1987 by two friends, Fernando Duarte and Robert Brozin (Nando's.com, 2017). Although being a South African brand it has Portuguese influence and the restaurant chain depicts these designs. Nando's specialty is flameā€“grilled chicken spiced with their unique selection of marinade sauces and spices ranging from mild to extra hot and for those individuals not into the hot stuff, there's a lemon and herb option. It also has other selected food options to choose from in their attractive menu. Its niche market is working middle class male and female customers who enjoy spicy food and casual dining. It also caters for kids and families. Analysis of Nando's For a business to be successful and have a competitive advantage, it is important to evaluate the company's resources and capabilities (Pitt & Koufopoulos, 2012). Resources in a company are the productive assets owned (tangible or intangible) whereas capabilities are what the company can do with this (Grant, 2010). "Establishing competitive...show more content... Nandos Vision is "to take the world's best tasting chicken to the world" (cite here....) Authenticated by its current presence in 30 countries and about a 1000 outlets globally (Nando's.com, 2017). Supporting its mission and vision is its core values which are "passion, pride, integrity, courage and family" (Omarjee, Get more content on HelpWriting.net
  • 15. Knowledge Management At World Bank MGTā€“703 KNOWLEDGE MANAGEMENT CASE STUDY ON KNOWLEDGE MANAGEMENT AT WORLD BANK SUBMITTED TO:SUBMITTED BY: JOANNA DAIWAQAS ALI 11200695 Executive Summary The main concept of this report is to discuss the concept of knowledge management and identify the existing knowledge reservoirs in World Bank. I will be focusing on Knowledge in people, Knowledge in artifacts and Knowledge in organizational entities. After that, I will be discussing the classifications of knowledge management in World Bank by using explicit or tacit knowledge, declarative and procedural knowledge and general, contextually specific and technically specific knowledge. Furthermore, the infrastructure used to support knowledge management will be discussed followed by knowledge management solutions. I will be discussing some challenges and giving some recommendations to be followed by knowledge management officer. The objectives of the case study are (a)To learn the thorough concept of knowledge management. (b)To find the classifications of knowledge at World Bank. (c)To learn how to use the concept of storing, sharing and communicate the knowledge. Table of Contents ContentsPage No. The Executive Summary
  • 16. Introduction.............................................................................................. 4 General Knowledge reservoirs existing at World Bank ........................................... 4 Classifications of knowledge management Get more content on HelpWriting.net
  • 17. Introduction: Having a good strategy to maintain the sustainable competitive advantages for the firm is very important. Resources and capabilities play the key factors in the every firm's operation. It is not only a reflection of the firm's current situation, but also a useful tool for managers to have better strategies for future growth (Grant, 2013, 112ā€“113). Canon is an extraordinary example of using the resources and capabilities theory to contribute its success. Producing a new product and promoting in the market successfully while Xerox is a strong competitor is extremely difficult. Originally a small organisation, now Canon has become the second largest copier distributor with revenue of $5 billion (C1038). However, managing resources and capabilities still has some issues and it could not be applied widely. Hence, this paper aims to explain the specific reasons of Canon's success and provide an overview that support the firms to manage their resources and capabilities more effectively. How Canon created the sustainable competitive advantages based on Resourceā€“based view (RBV) theory? Resources and capabilities play an important role in the firm's sustainability (Grant, 2013, 112). In terms of ensuring firm's growth, the resourceā€“based view (RBV) is the most approachable framework for those firms having an effective strategic management. Emphasizing the importance of the internal factor (firm's resource), on one hand, the RBV is not only evaluating the strengths and Get more content on HelpWriting.net
  • 18. A Guide to Case Analysis I keep six honest serving men (They taught me all I knew); Their names are What and Why and When; And How and Where and Who. Rudyard Kipling 2 STRATEGY: Core Concepts and Analytical Approaches I n most courses in strategic management, students use cases about actual companies to practice strategic analysis and to gain some experience in the tasks of crafting and implementing strategy. A case sets forth, in a factual manner, the events and organizational circumstances surrounding a particular managerial situation. It puts readers at the scene of the action and familiarizes them with all the relevant circumstances. A case on strategic management can concern a whole industry, a single organization, or some part...show more content... Usually, case discussions produce good arguments for more than one course of action. Differences of opinion nearly always exist. Thus, should a class discussion conclude without a strong, unambiguous consensus on what do to, don't grumble too much when you are not told what the answer is or what the company actually did. Just remember that in the business world answers don't come in conclusive blackā€“andā€“white terms. There are nearly always several feasible courses of action and approaches, each of which may work out satisfactorily. Moreover, in the business world, when one elects a particular course of action, there is no peeking at the back of a book to see if you have chosen the best thing to do and no one to turn to for a provably correct answer. The best test of whether management action is "right' or "wrong" is results. If the results of an action turn out to be "good," the decision to take it may be presumed "right." If not, then the action chosen was "wrong" in the sense that it didn't work out Hence, the important thing for you to understand about analyzing cases is that the managerial exercise of identifying, diagnosing, and recommending is aimed at building your skills of business judgment. Discovering what the company actually did is no more than frosting on the cakeā€“the actions that company managers actually took may or may not be Get more content on HelpWriting.net
  • 19. The Blue Nile Strategy: Global Marketing Strategy 3.1 Blue Nile Strategy Blue Nile's strategy is designed to increase their brand recognition through their product and sales, and invest to expand their operation internationally. Besides that, Blue Nile do offer lower price for their product where employ efficient of their supply chain to decrease their overhead cost while maintain its equity quality to produce more customer traffic and to promote repeat purchase which target current customer than create new customers. Besides that, Blue Nile has also provide well educate information about diamond and rich information online shopping experience for new customer to increase consumer knowledge to increase their internet traffic too. 3.2 Generic Competitive Strategies use by Blue Nile Generic...show more content... This strategy make Blue Nile manage well in inventory management and merchandising which allows Blue Nile to cut off those diamond prices in order to boost their sales which lead them success. 3.2.2 Focus Strategy Blue Nile has applied focus strategy as one of the generic competitive strategy which target on specific customer to satisfy their needs in niche market. Although Blue Nile able to offer low price of diamond, but they believe that still not everybody could able to purchase diamond or gems, so they rather focusing expand in niche market but not in differentiate market which they believe could bring them more profit with effective less advertisement and operating cost. 3.2.3 Differentiation Strategy Blue Nile able to form a good relationship with suppliers and they could obtain offer from those suppliers who just provide to them of some unique jewellery or gems where customer cannot purchase or order it from other their competitors. Blue Nile also provide various of contact method to let consumer could contact them through various of ways which can found on their website which include, email, phone and live chat which Blue Nile has provide professional training to their staff which is unique compare to other Get more content on HelpWriting.net
  • 20. V.R.I.O. Analysis A FRAMEWORK FOR ANALYSIS : VRIO Š’ā€¢Resourceā€“based analysis of the firm determines which resources and capabilities result in which strengths or weaknesses Š’ā€¢Strategies are to be implemented which exploit (or build) strengths and avoid (or eliminate) weaknesses Š’ā€¢What constitutes a strength or weakness is partially a function of the external environment Š’ā€¢Framework for analysis: VRIO ā€“ resources and capabilities should be o Valuable o Rare o Inimitable o Organization can effectively exploit them VALUE of resources and capabilities Š’ā€¢A VALUABLE resource or capability (or a combination thereof) must o Contribute to fulfillment of customer 's needs o At a price the consumer is willing to pay, which is determined by ...show more content... Rare? Costly to Imitate ?Exploitable by the Organization?Competitive implicationsEconomic performanceStrengths or Weaknesses Noā€“ā€“NoCompetitive DisadvantageBelow normalWeakness YesNoā€“ toCompetitive ParityNormalStrength YesYesNoTemporary competitive advantageAbove normalStrength and distinctive competence YesYesYesYesSustained competitive advantageAbove normalStrength and sustainable distinctive competence Source : Barney, 1997, Tables 5.2 and 5.3, p.163. Threats to sustainability Š’ā€¢Imitation or substitution Š’ā€¢Market entry Š’ā€¢Powerful buyers and suppliers Š’ā€¢Unpredictable changes in external environment Š’ā€¢Factors beyond a firm 's control (bad luck) Limitations of the RBV Š’ā€¢Presented as static concept ā€“ however, many firms need to be able to cope with turbulent environments Š’ā€¢Suggests that managers may have limited ability to create sustained competitive advantages (empirical support by "perpetually failing firms" ā€“ firms that consistently earn normal or belowā€“normal returns Š’ā€¢Difficult to test empirically ā€“ data problem (at the level of the unit of analysis, Le., resources and capabilities)
  • 21. Š’ā€¢What is the appropriate level of analysis? How deeply does one have to look? Principles of capabilitiesā€“based competition Goal : Build difficultā€“toā€“imitate organizational capabilities that distinguish a company from its competitors Principles Get more content on HelpWriting.net
  • 22. might suggest that the best way in which to gain knowledge on a candidate is through reference checking with previous employers. As stated in the literature review, social media is considered more exponential than the traditional one (Cover, 2004). This exponential change seems to have escalated to the point where almost all recruiting is done online, with some opinion that even job sites will diminish in upcoming years. Leaderā€“Chivee and Cowan (2008) reported that this has changed the face of industry alongside the face of social networking in general, while interviewees also had recommendations for improvement of social networking for business practices. In the minds of the experts, making an online solution that is not limited to the features of sites such as LinkedIn or Facebook is the best option....show more content... Meanwhile, the research objectives were to: i) assess the effectiveness of social media use in recruitment, ii) examine trends in using the technology, iii) examining the role of social media in jobā€“hunting from the jobā€“seekers position and iv) provide recommendations for improving practice or gaining more knowledge through additional research efforts; here it is evident that the first four were met, while the fifth is addressed through the following Get more content on HelpWriting.net