Reflect upon the family as a resource. Consider the resource based theory of the firm ,...
Reflect upon the family as a resource.
Consider the resource based theory of the firm , and the derived Familiness perspective and describe how the family that owns a business provide valuable, rare, inimitable, and non-substitutable resources for the firm.
How can these resources help creating a competitive advantage?
Homework Answers
The resource-based theory of the firm indicates that these sort of organization will have a totally different bundle of resources which are completely unique to the given organization because of the involvement of the family in the business operations. The unique bundle of the resources mainly resulted from the impact of the family on the business. The interaction takes place between the organization, family and its members cannot be imitated by any other family organization.
Five family firm-specific resources were identified by Sirmon and Hitt and they explained that thee resource provides a competitive advantage to the firm. They proposed that family-oriented firms determine, possess, shed, combine and utilizes these resources in a completely different manner in comparison to the non-family organizations which will facilitate them the competitive advantage. The different type of resources include manpower, social capital, patient financial capital, survivability capital and governance system
Add Answer to:
Reflect upon the family as a resource.
Consider the resource based theory of the firm ,...
Question 35 2 pts The VRIN tests for sustainable competitive advantage ask if a resource is...
Question 35 2 pts The VRIN tests for sustainable competitive advantage ask if a resource is Valuable, Rare, Imitable, and Non-substitutable. True False Question 36 2 pts Studying competitors' past behavior and preferences provide a valuable assist in anticipating what moves rivals are likely to make next and outmaneuvering them in the marketplace. True False o tem ? ) Question 37 2 pts Success in achieving a low-cost edge over rivals comes from out-managing rivals in finding ways to perform...
Consider these two statements: a. Resources that are valuable, but not rare can often be a...
Consider these two statements: a. Resources that are valuable, but not rare can often be a source of competitive advantage b. The VRIO framework suggests that resources that are common (that is not rare) do not contribute to generating value to customers. Question 7 Question 8 Time Elapset: Hide of de Sep 10 pm 5 Minutes 25 Seconds Both are True Als False, but Bis True A True, but Bis False Both are False Question 2 Which answer best completes...
please answer the 3:) thanks Question completion Status: be -1.5. Based on this information, we know the goods...
please answer the 3:)
thanks
Question completion Status: be -1.5. Based on this information, we know the goods are An economist estimated the cross-price elasticity for peanut butter a complements b. inferior goods c. substitutes d. inelastic. QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making...
An economist estimated the cross price elasticity for peanut butter and bananas to be-1.5. Based on...
An economist estimated the cross price elasticity for peanut butter and bananas to be-1.5. Based on this information, we know the poods are a complements b inferior goods. c.substitutes d. inelastic QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment b. Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making sure that the resource developed is...
The Resource-Based View in Sports This activity is important because as a manager, you should understand...
The Resource-Based View in Sports This activity is important because as a manager, you should understand the factors that affect a firm's profitability and long-term survival. According to the resource-based view, a company can gain competitive advantage from resources that are inimitable and rare. The goal of this exercise is to demonstrate your understanding of the resource-based view by answering questions after reading a case study. Read the case about the resource-based view in sports and answer the questions that...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage O . Making sure that the resource developed is non-fungible to create a sustainable advantage Od. All of the above QUESTION 25 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on...
Un programmed Theories of Aging: 1)Identify and define one theory from this group; based upon that...
Un programmed Theories of Aging: 1)Identify and define one theory from this group; based upon that specific theory, discuss how it can be used to develop health-promotion advice for older adults. Types of exercise : 1)Describe the important difference between aerobic and resistance exercise. 2) Next for each one, explain how it can help to slow the progression of a normal age-related change in a specific, tissue, organ, or system in the body.
Reflect on each major area of your life (personal, family, work, school, health--whichever of these are...
Reflect on each major area of your life (personal, family, work, school, health--whichever of these are relevant, or add your own important areas). What is going well and what are some stressors (or potential upcoming stressors) in this area? Which things are (at least partly) in your control, and which things are in other people's control? Write a few sentences about the status (and foreseeable future) of each area. List two (2) of your specific stressors and what stress management...
1.The resource based view locates the source of advantage at the a. Individual firm level b....
1.The resource based view locates the source of advantage at the a. Individual firm level b. Industry level c. Both a and b d. None of the above 2.To keep employees from shirking, you can invest in greater monitoring a. when employees fail to respond to incentive contracts b. even though monitoring is expensive c. especially when monitoring is not very efficient d. when incentives solve both moral hazard and adverse selection problems with employees. 3. How does Ebay differ...
As the human resources specialist at the CPA firm where you work, you recently joined the...
As the human resources specialist at the CPA firm where you work, you recently joined the board of a local professional association of human resource managers, thinking it might be a good place to pick up new clients as well as hone your human resources skills. Because of your CPA background, other board members describe how the group puts on an annual conference for its members with educational workshops and speakers. This year, the board is considering the sale of...
Question 35 2 pts The VRIN tests for sustainable competitive advantage ask if a resource is Valuable, Rare, Imitable, and Non-substitutable. True False Question 36 2 pts Studying competitors' past behavior and preferences provide a valuable assist in anticipating what moves rivals are likely to make next and outmaneuvering them in the marketplace. True False o tem ? ) Question 37 2 pts Success in achieving a low-cost edge over rivals comes from out-managing rivals in finding ways to perform...
Consider these two statements: a. Resources that are valuable, but not rare can often be a source of competitive advantage b. The VRIO framework suggests that resources that are common (that is not rare) do not contribute to generating value to customers. Question 7 Question 8 Time Elapset: Hide of de Sep 10 pm 5 Minutes 25 Seconds Both are True Als False, but Bis True A True, but Bis False Both are False Question 2 Which answer best completes...
please answer the 3:)
thanks
Question completion Status: be -1.5. Based on this information, we know the goods are An economist estimated the cross-price elasticity for peanut butter a complements b. inferior goods c. substitutes d. inelastic. QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making...
An economist estimated the cross price elasticity for peanut butter and bananas to be-1.5. Based on this information, we know the poods are a complements b inferior goods. c.substitutes d. inelastic QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment b. Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making sure that the resource developed is...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage O . Making sure that the resource developed is non-fungible to create a sustainable advantage Od. All of the above QUESTION 25 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on...
As the human resources specialist at the CPA firm where you work, you recently joined the board of a local professional association of human resource managers, thinking it might be a good place to pick up new clients as well as hone your human resources skills. Because of your CPA background, other board members describe how the group puts on an annual conference for its members with educational workshops and speakers. This year, the board is considering the sale of...
Most questions answered within 3 hours.
-
4. Determine the theoretical yield of P2O5, when 3.07 g of P
reacts with 6.09 g...
asked 34 minutes ago -
Explain the PEST analysis and how a marketer would use this when
putting together a marketing...
asked 17 minutes ago -
S sells property with a $500 basis to B for $450, and B later
sells the...
asked 1 hour ago -
True/False Questions
1.
In interpreting an agreement, courts generally apply a
subjective standard.
2.
If, after...
asked 22 minutes ago -
On January 1, 20X7, Green Corp. paid $1,020,000 to acquire Wax
Co. Wax maintained separate incorporation....
asked 1 hour ago -
C++
Write a class Fraction that defines adding, subtracting,
multiplying, and dividing fractions by overloading standard...
asked 2 hours ago -
This java code won't run and I can't figure out the problem with
it. Please help...
asked 3 hours ago -
Trace the following recursive methods:
a) isPal with the string “abccda”
b) isAnBn with the string...
asked 4 hours ago -
1. Which of the following is false about photosynthesis?
A. ATP is the molecule used to...
asked 5 hours ago -
A simple random sample of size n=64 is obtained from a
population with a mean of...
asked 6 hours ago -
(2 dimensions, 1 object, 2 accelerations)
1) A projectile is thrown with a wind. The wind...
asked 7 hours ago -
Brian makes $34,100 per year. How much can Brian expect to
contribute to FICA taxes in...
asked 8 hours ago