The Internal Environment
Completion requirements
This text gives an example of the firm's value chain as an important tool for determining how it provides value to the customer through its operational functions. The VRIO analytical tool is meant to answer specific questions that the firm must address when evaluating the firm's offerings.
Concept Check
- What are firm resources and capabilities?
- Describe a value chain and what the activities in the chain represent.
- What is VRIO? What questions do the letters stand for, and how does using VRIO help a manager make decisions?