Morgan State University Concept of Strategic Resource Analysis Essay

User Generated

noq995

Business Finance

Morgan State University

Description

Purpose: The purpose of the assignment is to integrate and apply knowledge on how to conduct internal analysis and make conclusions about the strategic value of a firm’s resources.

Skills: This assignment will require you to apply such skills as searching and analyzing literature sources, extracting/collecting necessary information from them, analyzing the collected information, and synthesizing it into a report.

Knowledge: The assignment will help you to practice the application of the resource-based view, specifically the VRISO framework.


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Explanation & Answer

View attached explanation and answer. Let me know if you have any questions.

CONCEPT OF STRATEGIC RESOURCE
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Concept of strategic resource
The strategic resource is an organizational property that is more valuable, a product that is
unique and can never be imitated (Malmelin,2021). The strategic resource is always nonsustainable. A resource, in most cases, is normally valuable to the extent that it plays a vital
role in the organization and ensuring that they help in ensuring that the organization is in a
position of creating opportunities and making capital investments to ensure that the
organization attains the largest shares within the market. Some of the examples of strategic
resources include. Human resources, financial resources, physical resources, and intangible
resources. The strategic resource is vital in keeping the organization at top levels and always
making it a number one customer selection. Strategic resources help the organization be in
apposition of lasting longer within the market because the competitors are not able to
duplicate the resources and ensure that the organization can be distinguished by its products
every time. The toughest part of duplicating resources from an organization includes the
protection of products and services using copyright. The no substitutable resources
competitors can never try to match their products with that of another. This is brought up by
the fact that it is a unique culture and adopting the strategy will mean that an organization is
desperate and thus attracting very little consumer reception from various regions.
Strategic resources mainly focus on success. Whenever an organization sets up a strategic
resource, it must always ensure that it concentrates it comes up with a plan that will be
successful for the future (Malmelin,2021). The process resource quality is vital to ensure that
the competitors might find it so hard to imitate. Money is the most important resource at this
particular stage. Money will always give an organization a competitive advantage as it will
help keep the organization in a more open and reliable sequence.
Application of the concept to under Armour

Under Armour serves as one of the greatest emerging companies in footwear, casual apparel,
and the sports industry. The company has formed a vital element in ensuring that they can
compete against the best American companies. Globally, there has been a culture of certain
organizations such as Nike and Adidas that have taken over the sports fraternity for the
longest period (Kim,2020). The companies have always been in a position of ensuring that
they create a more unique business structure, and it has played a vital role in capturing the
attention of sports and being the most chosen brands in the world of sports. The mission of
Under Armour is to ensure that the organization is making the athletes better in the passion of
their innovation. With the mission, the company is to ensure that they achieve organizational
success and a profession th...


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Just what I was looking for! Super helpful.

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