That a great discussion. I've been reviewing hundreds of papers and I could say that there isn't a consensus among the scholars. Some say capabilies are resources, others say competences are capabilities. However, in my opinion, there is a subtle difference among them. I think you nailed it. Good simplification.
Hi Soma, I have only just stared a module called Corporate Strategy as part of my Management Masters programme and I'd like to thank you cos this video has summarized what I have read in the past 2 days quite well. I'm going to subscribe to your channel as I am recently self-employed (focusing on language tuition delivery) and for the first time I am really asking myself why I am not global and what to do about it. Is there any readings or blogs you could recommend for me? Above all, I really would like to thank you for your amazing work and soothing voice too helping navigate through this side of business analysis that has always appeared daunting to me.
+Ejimak Hi, Ejimak. Thank you for your kind words. I have another channel that I just launched and am developing. It's geared a little more to business owners. I'd be honored if you'd subscribe here bit.ly/somaonYT. I have a couple of recommendations for resources I find very useful. Try marketingprofessor.com, quickmba.com, and mindtools.com - all have free and educational information that summarize strategic business concepts. Good luck!
hi! I'm currently studying strategy and i don't understand the following question 'evaluate the usefulness and relevance of a firm's internal resources and capabilities in the light of industry developments'
+Mimi Za Of course, I'd be happy to. Let's get rid of academic speak. What the comment means is that many factors in your industry will change. You might get more competitors, there might be a new technology, or consumers' preference might change. An example of consumer preferences changing is the focus on more natural ingredients in consumer packaged foods. As a business strategist, you must ask yourself, "Is the way my business is delivering value to my stakeholders still relevant? If yes, how? If no, then do I have the right resources? Are we focusing on the right activities? Are we delivering more value than the competition?" Business leaders must never stop evaluating the chain that delivers value to their stakeholders.
hey! thanks for replying! i'm still quite confused my assignment is to write about a media company. Do i write about the strengths and weakness of the internal resources and capabilities in the light of industry developments. Is that what the question is asking?
I would love to know who do ypu read in order to be able to write all this. Im thjnking about barney, peteraf, teece, penrose and some other guys, but i want to use some of your material. Do you have all this published???
Francisco Saucedo I read a lot: books, blogs, articles, everything. For many of my videos on this channel I'm trying to help students studying business so I reference textbooks often. I am working on a channel for small businesses that will make use of my almost 20 years of experience, an e-book on leading teams, and a book about innovation and diversity.
Soma Jurgensen Well Soma you are doing a great job, i hope i got the chance to read some of u again. and please let me know when you got that channel please. I am studing my PhD on SME and i´m using this RBV perspective, maybe i can help some how when needed. Have a great day! and let´s stay in touch.
1 dislike from me because all of them are totally wrong For example: competencies are not which difficult to immitate! Those are capabilities: resource-based view RBV And also read VRIO framework again Another example: 'tangible' and 'intangible' are categories and types of resources, not actual resources! You should categorize resources into tangible and intangible. For instance: physical resource is tangible, while cultural is intangible! Please refer to some refrences before publishing wrong information Totally useless If anyone needs a refrence, please refer to Fundementals of Strategy (Johnson et al, 2018) page 80-90
That a great discussion. I've been reviewing hundreds of papers and I could say that there isn't a consensus among the scholars. Some say capabilies are resources, others say competences are capabilities. However, in my opinion, there is a subtle difference among them. I think you nailed it. Good simplification.
Hi Soma, this is extremely helpful and very well presented. Thank you so much!
Your video makes more sense than my lecture
AMAZING EXPLANATION!! Well done!
i love your voice, look forward to have more video from you. Thank you for sharing.
Thanks for the good discussion.looking more further
Great video!
Very clear explanation. Thank you!
Hi Soma, I have only just stared a module called Corporate Strategy as part of my Management Masters programme and I'd like to thank you cos this video has summarized what I have read in the past 2 days quite well. I'm going to subscribe to your channel as I am recently self-employed (focusing on language tuition delivery) and for the first time I am really asking myself why I am not global and what to do about it. Is there any readings or blogs you could recommend for me? Above all, I really would like to thank you for your amazing work and soothing voice too helping navigate through this side of business analysis that has always appeared daunting to me.
+Ejimak Hi, Ejimak. Thank you for your kind words. I have another channel that I just launched and am developing. It's geared a little more to business owners. I'd be honored if you'd subscribe here bit.ly/somaonYT.
I have a couple of recommendations for resources I find very useful. Try marketingprofessor.com, quickmba.com, and mindtools.com - all have free and educational information that summarize strategic business concepts. Good luck!
Thank you very much!
My Question: Core competencies are people or machine or plant or licence of invention, right?
Thank you very much ❤️
extremely helpful
very clear. thanks
Sorry do you mind breaking the question down so that i can understand it a little better. :)
hi! I'm currently studying strategy and i don't understand the following question 'evaluate the usefulness and relevance of a firm's internal resources and capabilities in the light of industry developments'
+Mimi Za Of course, I'd be happy to. Let's get rid of academic speak. What the comment means is that many factors in your industry will change. You might get more competitors, there might be a new technology, or consumers' preference might change. An example of consumer preferences changing is the focus on more natural ingredients in consumer packaged foods. As a business strategist, you must ask yourself, "Is the way my business is delivering value to my stakeholders still relevant? If yes, how? If no, then do I have the right resources? Are we focusing on the right activities? Are we delivering more value than the competition?" Business leaders must never stop evaluating the chain that delivers value to their stakeholders.
hey!
thanks for replying!
i'm still quite confused my assignment is to write about a media company. Do i write about the strengths and weakness of the internal resources and capabilities in the light of industry developments. Is that what the question is asking?
Hi, Mimi. For direction on your assignment specifically you'll want to contact your teacher.
I would love to know who do ypu read in order to be able to write all this. Im thjnking about barney, peteraf, teece, penrose and some other guys, but i want to use some of your material. Do you have all this published???
Francisco Saucedo I read a lot: books, blogs, articles, everything. For many of my videos on this channel I'm trying to help students studying business so I reference textbooks often. I am working on a channel for small businesses that will make use of my almost 20 years of experience, an e-book on leading teams, and a book about innovation and diversity.
Soma Jurgensen Well Soma you are doing a great job, i hope i got the chance to read some of u again. and please let me know when you got that channel please. I am studing my PhD on SME and i´m using this RBV perspective, maybe i can help some how when needed. Have a great day! and let´s stay in touch.
1 dislike from me because all of them are totally wrong
For example: competencies are not which difficult to immitate!
Those are capabilities: resource-based view RBV
And also read VRIO framework again
Another example: 'tangible' and 'intangible' are categories and types of resources, not actual resources!
You should categorize resources into tangible and intangible. For instance: physical resource is tangible, while cultural is intangible!
Please refer to some refrences before publishing wrong information
Totally useless
If anyone needs a refrence, please refer to Fundementals of Strategy (Johnson et al, 2018) page 80-90