Questions Needed to Conduct a Resource-Based Analysis of a Firm's Internal Strengths and Weaknesses.

Be able to apply the VRIO framework to identify the competitive implications of a firm's resources and capabilities.

Discuss important implications of the resource-based view, including:

a. How value chain analysis can be used to identify a firm's valuable resources and capabilities.

b. The kinds of resources and capabilities those are likely to be costly to imitate.

c. How a firm uses its structure, formal and informal control processes, and compensation policy to exploit its resources.