In the context of the VRIO Framework, what does a valuable resource mean?
What will be an ideal response?
A resource is valuable if it helps a firm increase the perceived value of its product or service in the eyes of consumers, either by adding attractive features or by lowering price because the resource helps the firm lower its costs. By raising the perceived value of the product, the resource increases the firm's revenues, in turn increasing the firm's profitability (assuming costs are not increasing). If the resource allows the firm to lower its cost, it also increases profitability (assuming perceived value is not decreasing). A resource that is valuable allows the firm to take advantage of an external opportunity and/or neutralize an external threat.
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Describe the use of survey feedback in organizations.
What will be an ideal response?
An instrument is not considered canceled if it is destroyed or mutilated by accident or by an unauthorized third party
Indicate whether the statement is true or false
Which of the following would be a specialty product?
a. tickets to the new Broadway show b. dental care c. refrigerators d. large screen televisions e. furniture
Why did Kearns have to pay sanctions?
a. He withheld information during discovery b. His son dated a paralegal and gained information from defense lawyers c. He disappeared for days during jury deliberations d. None of the above