【正文】 CEO, RJR Nabisco Resources Ch367 Resources * Tangible * Intangible Capabilities Teams of Resources Discovering Core Competencies Ch368 What a firm Does... Capabilities represent: the firm’s capacity or ability to integrate individual firm resources to achieve a desired objective. Capabilities Ch369 What a firm Does... Capabilities develop over time as a result of plex interactions that take advantage of the interrelationships between a firm’s tangible and intangible resources that are based on the development, transmission and exchange or sharing of information and knowledge as carried out by the firm39。 Restructuring Strategy Implementation Chapter 10 Corporate Governance Chapter 11 Structure amp。 Restructuring Chapter 10 Corporate Governance Chapter 11 Structure amp。s citizens to have a higher standard of living 21st Century Competitive Landscape Ch19 Alternative Models of Superior Returns ResourceBased Model Industrial Organization Model The External Environment An Attractive Industry Strategy Formulation Assets and Skills Strategy Implementation Superior Returns Resources Capability Competitive Advantage An Attractive Industry Strategy Implementation Superior Returns Ch110 I/O Model of Superior Returns The Industrial Organization model suggests that aboveaverage returns for any firm are largely determined by characteristics outside the firm. This model largely focuses on industry structure or attractiveness of the external environment rather than internal characteristics of the firm. Ch111 Action required: External Environment General Environment Industry Environment Competitive Environment Study the external environment, especially the industry environment. I/O Model of Superior Returns Ch112 External Environment General Environment Industry Environment Competitive Environment An Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Action required: Locate an industry with high potential for aboveaverage returns. I/O Model of Superior Returns Ch113 External Environment General Environment Industry Environment Competitive Environment Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Action required: Identify strategy called for by the industry to earn aboveaverage returns. Selection of a strategy linked with aboveaverage returns in a particular industry Strategy Formulation I/O Model of Superior Returns Ch114 External Environment General Environment Industry Environment Competitive Environment Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Strategy Formulation Selection of a strategy linked with aboveaverage returns in a particular industry Action required: Develop or acquire assets and skills needed to implement the strategy. Assets and Skills Assets and skills required to implement a chosen strategy I/O Model of Superior Returns Ch115 External Environment General Environment Industry Environment Competitive Environment Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Strategy Formulation Selection of a strategy linked with aboveaverage returns in a particular industry Assets and Skills Assets and skills required to implement a chosen strategy Action required: Use the firm’s strengths (its assets or skills) to implement the strategy. Strategy Implementation Selection of strategic actions linked with effective implementation of the chosen strategy I/O Model of Superior Returns Ch116 External Environment General Environment Industry Environment Competitive Environment Attractive Industry An industry whose structural characteristics suggest aboveaverage returns are possible Strategy Formulation Selection of a strategy linked with aboveaverage returns in a particular industry Assets and Skills Assets and skills required to implement a chosen strategy Action required: Strategy Implementation Selection of strategic actions linked with effective implementation of the chosen strategy Superior Returns Earning of aboveaverage returns Maintain selected strategy in order to outperform industry rivals. I/O Model of Superior Returns Ch117 The ResourceBased model suggests that aboveaverage returns for any firm are largely determined by characteristics inside the firm. This model focuses on developing or obtaining valuable resources and capabilities which are difficult or impossible for rivals to imitate. ResourceBased Model of Superior Returns Ch118 Resources Inputs to a firm’s production process. Action required: Identify firm resources. Study strengths and weak nesses relative to rivals. ResourceBased Model of Superior Returns Ch119 Resources Inputs to a firm’s production process. Action required: Determine what firm capabilities allow it to do better than rivals. Capability Capacity for an integrated set of resources to perform a task or activity. ResourceBased Model of Superior Returns Ch120 Resources Inputs to a firm’s production process. Capability Capacity for an integrated set of resources to integratively perform a task or activity. Competitive Advantage Ability of a firm to outperform its rivals Action required: Determine how firm’s resources and capabilities may create petitive advantage. ResourceBased Model of Superior Returns Ch121 Resources Inputs to a firm’s production process.