COMM1170 Flashcards

Flashcards for COMM1170 Organisational Resources lecture.

What are Organisational Resources?

Include all assets, capabilities, organizational processes, firm attributes, information, knowledge etc. controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness.

What is Sustained Competitive Advantage?

A firm is said to have a sustained competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential competitors and when these other firms are unable to duplicate the benefits of this strategy.

What are the 3 Strategic Approaches to Competitive Advantage?

Operational Excellence, Customer Intimacy, Product/Service Leadership

Distinguish between Strategic and Operational Leaders in the context of Budgeting.

Strategic leaders make decisions that shape competitive strategy, resource allocation priorities, market entry or exit decisions, mergers, acquisitions, and partnerships with a broader, longer-term focus. Operational leaders make decisions to optimize resource allocation and implement operating procedures with a short-term focus on execution.

What are the types of Resources?

Tangible and Intangible

What are the components for managing the organization's resources portfolio in resource and capability management?

Structuring, Acquiring, Developing (accumulating), and Divesting.

What are the components in combining of organisational resources to construct or alter capabilities in resource and capability management?

Bundling, Stabilising, Enriching, and Pioneering.

What are the components in application of an organisation’s capabilities to create value for customers and wealth for stakeholders in resource and capability management?

Mobilising, Coordinating, Deploying.

What does the COMM1170 Toolkits consist of?

Overall, people, technology and capital, and accounting toolkit for budgeting and measurement.

What are the key elements covered in the COMM1170 toolkit?

Environment, Leaders as architects (strategic and operational), Structuring, Bundling and leveraging, Measure Organisational Performance

What Analysis Tools Are used in COMM1170

Resource and capability analysis, the 5Ws tool, SWOT analysis

What do the 5 W's stand for?

What, When, Where, Who, and Why