Based on the the below it already answered but there is a following question to the theory (Please elaborate on your various insights and assertions within your writing, by providing a little more detail, examples, citations and references, in order to fully illustrate and substantiate your writing and your analysis?)

Subject: Resources and dynamic capabilities in theory

Jones, O., Ghobadian, A., O'Regan, N. and Antcliff, V. (2013).Dynamic capabilities in a sixth-generation family firm: Entrepreneurship and the Bibby Line(Links to an external site.) .Business History, 55(6), 910-941.

Please refer to the full text from this link: https://www.researchgate.net/publication/262858923_Dynamic_capabilities_in_a_sixth-generation_family_firm_Entrepreneurship_and_the_Bibby_Line

1) What are the resources of Bibby Line?

2) What are the dynamic capabilities of Bibby Line?

3) Can you use the VRIN framework to analyse any of Bibby Line's resources? What is your unit of analysis? What conclusions can you draw about the case study and the theory once you have completed your VRIN analysis?

4) Does Bibby Line have dynamic capabilities?

5) Did the managers know this at the time or is this retrospective analysis?

6) What does using the three schools of strategic management within one case study tell you about the similarities and differences between them?

The answer to the questions:

1) What are the resources of Bibby Line?

Ans: The resources of the Bibby line are ships, vessels, jack up platforms and accommodation barges.

2) What are the dynamic capabilities of Bibby Line?

Ans: Due to sudden and subsequent changes Bibby line face the periods of relative equilibrium. The following four are the dynamic capabilities of the Bibby line which shows that how Bibby line manages the changes:

a.Leveraging existing resources: It is concerned with the marine related activities. The 100% of MSM is acquired by Bibby and named that Bibby International Services. They continue to invest in the Shipping related business. They have purchased the 7 vessels, 2 jack-up platforms and 12 accommodation barges. The slowly turnover began to increase. In order to expand the activities in various major divisions they have started leveraging.

b.Releasing assets:They use the approach is sell in boom and buy in recession. This is the mantra they use. They act very decisively when the assets are in underperformance.

c.Creating new resources: This is the finance-related activity. The shipping crises were looked with this capability. The factoring is used to identify the growing firms. The factoring grows into a major business. The rest other business failed.

d.Assessing new resources: Initially when the organization is established, there is requirement of very less resources. As this industry is growing industry, the time to time investment is required. They are involved in the assessment of new resources which also help them to cope up with the change in the environment.

3) Can you use the VRIN framework to analyse any of Bibby Line's resources? What is your unit of analysis? What conclusions can you draw about the case study and the theory once you have completed your VRIN analysis?

Ans: VRIN: Valuable, Rare, Imitable and Non-Substitutable

The resources are VRIN resources which are used by the Bibby line. The unit of analysis is the change in the business environment.

The conclusions from the case study is that the resources used by the organization show their uniqueness and inimitability. They are valuable and rare. These resources are also non-substitutable in nature as they can't be replaced.

4) Does Bibby Line have dynamic capabilities?

Ans: Yes, Bibby line have dynamic capabilities. They have four dynamic capabilities. They are as follows:

a.Leveraging existing resources: It is concerned with the marine related activities. The 100% of MSM is acquired by Bibby and named that Bibby International Services. They continue to invest in the Shipping related business. They have purchased the 7 vessels, 2 jack-up platforms and 12 accommodation barges. The slowly turnover began to increase. In order to expand the activities in various major divisions they have started leveraging.

b.Releasing assets:They use the approach is sell in boom and buy in recession. This is the mantra they use. They act very decisively when the assets are in underperformance.

c.Creating new resources: This is the finance-related activity. The shipping crises were looked with this capability. The factoring is used to identify the growing firms. The factoring grows into a major business. The rest other business failed.

d.Assessing new resources: Initially when the organization is established, there is requirement of very less resources. As this industry is growing industry, the time to time investment is required. They are involved in the assessment of new resources which also help them to cope up with the change in the environment.

5) Did the managers know this at the time or is this retrospective analysis?

Ans: This is considered as the retrospective analysis as this is the analysis of the future. The managers do not know this thing in this time as future is uncertain to everyone.

6) What does use the three schools of strategic management within one case study tell you about the similarities and differences between them?

Ans: The three schools of strategic management are:

1.The design schools

2.The planning schools

3.The positioning schools

Explanation:

In the case study there is proper designing of the plans that they have to implement. Then the planning is done in response of how to achieve that plans. The positioning of the plans is done.