{"id":134,"date":"2014-05-13T17:44:42","date_gmt":"2014-05-13T17:44:42","guid":{"rendered":"http:\/\/opentextbc.ca\/strategicmanagement\/?post_type=chapter&p=134"},"modified":"2019-07-03T23:48:21","modified_gmt":"2019-07-03T23:48:21","slug":"conclusion-4","status":"publish","type":"chapter","link":"https:\/\/opentextbc.ca\/strategicmanagement\/chapter\/conclusion-4\/","title":{"raw":"Conclusion","rendered":"Conclusion"},"content":{"raw":"This chapter has covered a number of key issues that executives face in managing resources and ensuring their firms remain competitive. Resource-based theory<\/em> argues that firms will perform better when they assemble resources that are valuable, rare, difficult to imitate, and nonsubstitutable. When executives can successfully bundle organizational resources into unique capabilities, the firm is more likely to enjoy lasting success. Different forms of intellectual property<\/em>\u2014which include patents, trademarks, copyrights, and trade secrets\u2014may also serve as strategic resources for firms. Examining a firm\u2019s resources can be aided by the value chain<\/em>, a tool that systematically examines primary and secondary activities in the creation of a good or service and by a knowledge of supply chain management<\/em> that examines the value added of multiple firms working together. While resource-based theory provides a dominant view for examining the determinants of firm success, other perspectives provide insight for understanding specific behaviours of firms within an industry. Finally, SWOT analysis<\/em> is a simple but powerful technique for examining the interactions between factors internal and external to the firm.\r\n
\r\n

Exercises<\/p>\r\n\r\n<\/header>\r\n

\r\n
    \r\n \t
  1. Divide your class into four or eight groups, depending on the size of the class. Each group should search for a patent tied to a successful product, as well as a patent associated with a product that was not a commercial hit. Were there resources tied to the successful organization that the poor performer did not seem to attain?<\/li>\r\n \t
  2. This chapter discussed WestJet Airlines. Based on your reading of the chapter, how well has WestJet done in bundling together the resources recommended by resource-based theory? What theoretical perspective best explains the competitive actions of most firms in the airline industry?<\/li>\r\n \t
  3. Conduct a SWOT analysis of your college or university. Based on your analysis, what one strategic move should your school make first, and why?<\/li>\r\n<\/ol>\r\n<\/div>\r\n<\/div>\r\n

    Attributions<\/h1>\r\nFigure 4.4<\/strong><\/a>\r\n\r\n1911Handsglindemanfactory<\/a> by Edward Lyman Bill is in the Public Domain (first);\r\n\r\n20111409-OSEC-LSC-0010 \u2013 Flickr \u2013 USDAgov<\/a> by U.S. Department of Agriculture is used under CC BY 2.0 License<\/a> \u00a0(second);\r\n\r\nSwiss Army Knife Wenger Opened 20050627<\/a> by Francis Flinch is in the Public Domain (third)\r\n\r\nFigure 4.6:<\/a>\r\n<\/strong>Beehive cake<\/a> by Adventures of Pam & Frank is used under CC BY 2.0 Licence<\/a> (first);\r\n\r\nFancy cake in the Covered Market \u2013 geograph.org.uk \u2013 724440<\/a> by ceridwen is used under\u00a0CC BY-SA 3.0 Licence<\/a> \u00a0(second);\r\n\r\nCharm City Cakes<\/a> by Fuzzy Gerdes is used under CC BY 2.0 Licence<\/a> (third);\r\n\r\nDuff goldman<\/a> by Extended Image Photography is used under\u00a0CC BY 2.0 Licence<\/a> (fourth)\r\n\r\nFigure 4.8:<\/a>\r\n<\/strong>Medikamente<\/a> by W\u00fcrfel is used under\u00a0CC BY-SA 3.0 Licence<\/a>\u00a0(first);\r\n\r\nHarlem Mickey Dz<\/a> by Sam Smith is is in the Public Domain (second);\r\n\r\nThe Fabs<\/a> by United Press International (http:\/\/commons.wikimedia.org\/wiki\/File:The_Fabs.JPG) is in the Public Domain (third);\r\n\r\nKFC \u2013 Pressure-fried Chicken \u2013 Howrah 2014-03-23 9718<\/a> by Biswarup Ganguly (http:\/\/commons.wikimedia.org\/wiki\/File:KFC_-_Pressure-fried_Chicken_-_Howrah_2014-03-23_9718.JPG) used under\u00a0CC BY 2.0 Licence<\/a> (fourth)\r\n\r\nFigure 4.9:\r\n<\/strong><\/a>Patent Maschinenthermometer<\/a> by Sikamarketing (http:\/\/commons.wikimedia.org\/wiki\/File:Patent_Maschinenthermometer.jpg) used under\u00a0CC BY-SA 3.0 Licence<\/a>\u00a0 (first);\r\n\r\nAlexander Graham Bell<\/a> by Moffett Studio (http:\/\/commons.wikimedia.org\/wiki\/File:Alexander_Graham_Bell.jpg) is in the Public Domain (second);\r\n\r\nLeonardo da Vinci (ur Svenska Familj-Journalen)<\/a> by Svenska Familj-Journalen (http:\/\/commons.wikimedia.org\/wiki\/File:Leonardo_da_Vinci_(ur_Svenska_Familj-Journalen).png) is in the Public Domain (third);\r\n\r\nLovastatin spacefill<\/a> by SubDural12 (http:\/\/commons.wikimedia.org\/wiki\/File:Lovastatin_spacefill.png) is in the Public Domain (fourth)\r\n\r\nFigure 4.11:<\/a>\r\n<\/strong>Trademark-symbol<\/a> by Wilinckx (http:\/\/en.wikipedia.org\/wiki\/File:Trademark-symbool.png) is in the Public Domain (first);\r\n\r\n1.20.10HobokenBen&Jerry'sByLuigiNovi2<\/a> by Nightscream (http:\/\/wikimediafoundation.org\/wiki\/File:1.20.10HobokenBen%26Jerry%27sByLuigiNovi2.jpg) used under\u00a0CC BY 2.0 Licence<\/a> (second);\r\n\r\nAspirine-1923<\/a> by Unknown (http:\/\/en.wikipedia.org\/wiki\/File:Aspirine-1923.jpg) is in the Public Domain (third);\r\n\r\nBurberry check<\/a> by Helix84 (http:\/\/en.wikipedia.org\/wiki\/File:Burrbery_check.gif) is in the Public Domain (fourth)\r\n\r\nFigure 4.13:<\/a>\r\n<\/strong>Clap Clapboard Blank<\/a> by AgatheD (http:\/\/wikimediafoundation.org\/wiki\/File:Clap_Clapboard_Blank.jpg) used under\u00a0CC BY-SA 3.0 Licence<\/a> \u00a0(first);\r\n\r\nCopyright<\/a> by Unknown (http:\/\/en.wikipedia.org\/wiki\/File:Copyright.svg) is in the Public Domain (second);\r\n\r\nEdisonPhonograph<\/a> by Norman Bruderhofer (http:\/\/commons.wikimedia.org\/wiki\/File:EdisonPhonograph.jpg) used under CC BY-SA 3.0 Licence<\/a> \u00a0(third);\r\n\r\nNewspaper advert copyright patent and trade mark<\/a> by SasiSasi (http:\/\/en.wikipedia.org\/wiki\/File:Newspaper_advert_copyright_patent_and_trade_mark.jpg) is in the Public Domain (fourth);\r\n\r\nGirl with a Pearl Earring<\/a> by Johannes Vermeer (http:\/\/en.wikipedia.org\/wiki\/File:Girl_with_a_Pearl_Earring.jpg) is in the Public Domain (fifth)\r\n\r\nFigure 4.15:<\/a>\r\n<\/strong>Doughnut<\/a> by Angeldm (http:\/\/commons.wikimedia.org\/wiki\/File:Doughnut.jpg) used under\u00a0CC BY-SA 3.0 Licence<\/a> (first);\r\n\r\nUS-FBI-ShadedSeal<\/a> by Federal Bureau of Investigation (http:\/\/commons.wikimedia.org\/wiki\/File:US-FBI-ShadedSeal.svg) is in the Public Domain (second);\r\n\r\nWD-40 Smart Straw<\/a> by ZooFari (http:\/\/en.wikipedia.org\/wiki\/File:WD-40_Smart_Straw.JPG) used under\u00a0CC BY 2.0 Licence<\/a> \u00a0(third);\r\n\r\nZynga unleashed<\/a> by ftchris (http:\/\/commons.wikimedia.org\/wiki\/File:Zynga_unleashed.jpg) used under\u00a0CC BY 2.0 Licence<\/a> \u00a0(fourth);\r\n\r\nSriracha sauce<\/a> by Glane23 (http:\/\/commons.wikimedia.org\/wiki\/File:Sriracha_sauce.JPG) used under CC BY-SA 3.0 Licence<\/a> (fifth)","rendered":"

    This chapter has covered a number of key issues that executives face in managing resources and ensuring their firms remain competitive. Resource-based theory<\/em> argues that firms will perform better when they assemble resources that are valuable, rare, difficult to imitate, and nonsubstitutable. When executives can successfully bundle organizational resources into unique capabilities, the firm is more likely to enjoy lasting success. Different forms of intellectual property<\/em>\u2014which include patents, trademarks, copyrights, and trade secrets\u2014may also serve as strategic resources for firms. Examining a firm\u2019s resources can be aided by the value chain<\/em>, a tool that systematically examines primary and secondary activities in the creation of a good or service and by a knowledge of supply chain management<\/em> that examines the value added of multiple firms working together. While resource-based theory provides a dominant view for examining the determinants of firm success, other perspectives provide insight for understanding specific behaviours of firms within an industry. Finally, SWOT analysis<\/em> is a simple but powerful technique for examining the interactions between factors internal and external to the firm.<\/p>\n

    \n
    \n

    Exercises<\/p>\n<\/header>\n

    \n
      \n
    1. Divide your class into four or eight groups, depending on the size of the class. Each group should search for a patent tied to a successful product, as well as a patent associated with a product that was not a commercial hit. Were there resources tied to the successful organization that the poor performer did not seem to attain?<\/li>\n
    2. This chapter discussed WestJet Airlines. Based on your reading of the chapter, how well has WestJet done in bundling together the resources recommended by resource-based theory? What theoretical perspective best explains the competitive actions of most firms in the airline industry?<\/li>\n
    3. Conduct a SWOT analysis of your college or university. Based on your analysis, what one strategic move should your school make first, and why?<\/li>\n<\/ol>\n<\/div>\n<\/div>\n

      Attributions<\/h1>\n

      Figure 4.4<\/strong><\/a><\/p>\n

      1911Handsglindemanfactory<\/a> by Edward Lyman Bill is in the Public Domain (first);<\/p>\n

      20111409-OSEC-LSC-0010 \u2013 Flickr \u2013 USDAgov<\/a> by U.S. Department of Agriculture is used under CC BY 2.0 License<\/a> \u00a0(second);<\/p>\n

      Swiss Army Knife Wenger Opened 20050627<\/a> by Francis Flinch is in the Public Domain (third)<\/p>\n

      Figure 4.6:<\/a>
      \n<\/strong>      Beehive cake<\/a> by Adventures of Pam & Frank is used under CC BY 2.0 Licence<\/a> (first);<\/p>\n

      Fancy cake in the Covered Market \u2013 geograph.org.uk \u2013 724440<\/a> by ceridwen is used under\u00a0CC BY-SA 3.0 Licence<\/a> \u00a0(second);<\/p>\n

      Charm City Cakes<\/a> by Fuzzy Gerdes is used under CC BY 2.0 Licence<\/a> (third);<\/p>\n

      Duff goldman<\/a> by Extended Image Photography is used under\u00a0CC BY 2.0 Licence<\/a> (fourth)<\/p>\n

      Figure 4.8:<\/a>
      \n<\/strong>      Medikamente<\/a> by W\u00fcrfel is used under\u00a0CC BY-SA 3.0 Licence<\/a>\u00a0(first);<\/p>\n

      Harlem Mickey Dz<\/a> by Sam Smith is is in the Public Domain (second);<\/p>\n

      The Fabs<\/a> by United Press International (http:\/\/commons.wikimedia.org\/wiki\/File:The_Fabs.JPG) is in the Public Domain (third);<\/p>\n

      KFC \u2013 Pressure-fried Chicken \u2013 Howrah 2014-03-23 9718<\/a> by Biswarup Ganguly (http:\/\/commons.wikimedia.org\/wiki\/File:KFC_-_Pressure-fried_Chicken_-_Howrah_2014-03-23_9718.JPG) used under\u00a0CC BY 2.0 Licence<\/a> (fourth)<\/p>\n

      Figure 4.9:
      \n<\/strong><\/a>      Patent Maschinenthermometer<\/a> by Sikamarketing (http:\/\/commons.wikimedia.org\/wiki\/File:Patent_Maschinenthermometer.jpg) used under\u00a0CC BY-SA 3.0 Licence<\/a>\u00a0 (first);<\/p>\n

      Alexander Graham Bell<\/a> by Moffett Studio (http:\/\/commons.wikimedia.org\/wiki\/File:Alexander_Graham_Bell.jpg) is in the Public Domain (second);<\/p>\n

      Leonardo da Vinci (ur Svenska Familj-Journalen)<\/a> by Svenska Familj-Journalen (http:\/\/commons.wikimedia.org\/wiki\/File:Leonardo_da_Vinci_(ur_Svenska_Familj-Journalen).png) is in the Public Domain (third);<\/p>\n

      Lovastatin spacefill<\/a> by SubDural12 (http:\/\/commons.wikimedia.org\/wiki\/File:Lovastatin_spacefill.png) is in the Public Domain (fourth)<\/p>\n

      Figure 4.11:<\/a>
      \n<\/strong>      Trademark-symbol<\/a> by Wilinckx (http:\/\/en.wikipedia.org\/wiki\/File:Trademark-symbool.png) is in the Public Domain (first);<\/p>\n

      1.20.10HobokenBen&Jerry’sByLuigiNovi2<\/a> by Nightscream (http:\/\/wikimediafoundation.org\/wiki\/File:1.20.10HobokenBen%26Jerry%27sByLuigiNovi2.jpg) used under\u00a0CC BY 2.0 Licence<\/a> (second);<\/p>\n

      Aspirine-1923<\/a> by Unknown (http:\/\/en.wikipedia.org\/wiki\/File:Aspirine-1923.jpg) is in the Public Domain (third);<\/p>\n

      Burberry check<\/a> by Helix84 (http:\/\/en.wikipedia.org\/wiki\/File:Burrbery_check.gif) is in the Public Domain (fourth)<\/p>\n

      Figure 4.13:<\/a>
      \n<\/strong>      Clap Clapboard Blank<\/a> by AgatheD (http:\/\/wikimediafoundation.org\/wiki\/File:Clap_Clapboard_Blank.jpg) used under\u00a0CC BY-SA 3.0 Licence<\/a> \u00a0(first);<\/p>\n

      Copyright<\/a> by Unknown (http:\/\/en.wikipedia.org\/wiki\/File:Copyright.svg) is in the Public Domain (second);<\/p>\n

      EdisonPhonograph<\/a> by Norman Bruderhofer (http:\/\/commons.wikimedia.org\/wiki\/File:EdisonPhonograph.jpg) used under CC BY-SA 3.0 Licence<\/a> \u00a0(third);<\/p>\n

      Newspaper advert copyright patent and trade mark<\/a> by SasiSasi (http:\/\/en.wikipedia.org\/wiki\/File:Newspaper_advert_copyright_patent_and_trade_mark.jpg) is in the Public Domain (fourth);<\/p>\n

      Girl with a Pearl Earring<\/a> by Johannes Vermeer (http:\/\/en.wikipedia.org\/wiki\/File:Girl_with_a_Pearl_Earring.jpg) is in the Public Domain (fifth)<\/p>\n

      Figure 4.15:<\/a>
      \n<\/strong>      Doughnut<\/a> by Angeldm (http:\/\/commons.wikimedia.org\/wiki\/File:Doughnut.jpg) used under\u00a0CC BY-SA 3.0 Licence<\/a> (first);<\/p>\n

      US-FBI-ShadedSeal<\/a> by Federal Bureau of Investigation (http:\/\/commons.wikimedia.org\/wiki\/File:US-FBI-ShadedSeal.svg) is in the Public Domain (second);<\/p>\n

      WD-40 Smart Straw<\/a> by ZooFari (http:\/\/en.wikipedia.org\/wiki\/File:WD-40_Smart_Straw.JPG) used under\u00a0CC BY 2.0 Licence<\/a> \u00a0(third);<\/p>\n

      Zynga unleashed<\/a> by ftchris (http:\/\/commons.wikimedia.org\/wiki\/File:Zynga_unleashed.jpg) used under\u00a0CC BY 2.0 Licence<\/a> \u00a0(fourth);<\/p>\n

      Sriracha sauce<\/a> by Glane23 (http:\/\/commons.wikimedia.org\/wiki\/File:Sriracha_sauce.JPG) used under CC BY-SA 3.0 Licence<\/a> (fifth)<\/p>\n","protected":false},"author":1,"menu_order":6,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-134","chapter","type-chapter","status-publish","hentry"],"part":385,"_links":{"self":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":25,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/134\/revisions"}],"predecessor-version":[{"id":3356,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/134\/revisions\/3356"}],"part":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/parts\/385"}],"metadata":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapters\/134\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/media?parent=134"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/pressbooks\/v2\/chapter-type?post=134"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/contributor?post=134"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/opentextbc.ca\/strategicmanagement\/wp-json\/wp\/v2\/license?post=134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}