Question

Question 1. Please explain the relationship between Resource, Capability, and Core Competence.

Question 2. What are Porter's Generic Competitive Strategies? Please explain.

Question 3. Describe and explain the AFI framework.

Question 4. By using available source of information (e.g., online/Google), perform a 5 Force Analysis on a company named Gilead Sciences Inc.

Answer 1

Ques-1 The center skills definition is an asset or capacity that gives a firm upper hand. Center skills are the business capacities or operational exercises that an organization does best. An organization's center skills are what separate it from different rivals in its industry. They are additionally the assets and capacities that permit the organization to accomplish productivity. A firm should devise its system in order to abuse the assets and capacities that contain its center abilities.

Assets

An organization's assets are the operational sources of info that permit it to play out its business exercises. Assets are frequently partitioned into three classes, including the accompanying:

Physical resources

HR

Hierarchical capital

Assets can likewise be delegated either substantial assets or impalpable assets. Substantial assets are physical resources, for example, hardware or property. Elusive assets are non-physical resources, for example, notoriety, brand value, or prevalent hierarchical engineering. Assets become center abilities or add to center skills when they meet the standards sketched out beneath.

Capacities

An organization's capacities are the exercises and capacities it performs to use its assets in an integrative design. Capacities are polished and sharpened after some time. As they become more grounded, the organization upgrades its ability in a specific useful or operational zone. This mastery permits the organization to separate itself from contenders. Besides, capacities are operational exercises that the organization has aced. They are supreme or hard for contenders to make sense of and duplicate. At the point when abilities meet the rules laid out beneath, they add to the organization's upper hand and benefit potential, and are viewed as center capabilities.

At the point when an organization decides its center capabilities, it might choose to concentrate on these exercises just, and to redistribute other fringe or non-center exercises. Given that non-center exercises can be performed all the more effectively and monetarily by an outside association that has aptitude in that movement, it might profit the organization to re-appropriate all conceivable fringe business exercises so as to commit itself to center business exercises and abilities.

Center Competencies Criteria

At the point when an organization's assets or abilities meet certain rules they can be called center skills. On the off chance that an asset or ability meets the accompanying models it adds to an association's upper hand over industry equals and permits the firm to accomplish productivity. An asset or capacity is a center competency in the event that it is significant, uncommon, exorbitant to emulate, and non-substitutable.

A capacity or asset is significant whenever it permits the organization to gain by circumstances or safeguard against outside dangers. It is uncommon when not many or no other industry contenders have the asset or master ability. An asset or ability is exorbitant to emulate when contenders must acquire overwhelming expenses to recreate them or they are out and out supreme. It is non-substitutable when no other asset or ability can be used as a proportional.

See the accompanying for the center abilities rules:

1. Important

2. Uncommon

3. Exorbitant to mimic

4. Non-substitutable

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