Competitive Strength and Power
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1. What test determines the power of a resources competitive strength?
2. Instead of trying to match the resource strengths of rivals, what option(s) should a company consider to enhance its competitive power in the marketplace?
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Solution Summary
This solution outlines how to determine the power of a resources competitive strength. Additionally, this solution explains how an organization can enhance its competitive power in the marketplace without matching the resource strength of its rivals.
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There are various questions, tests, and analytic processes that help determine the power of a resource's competitive strength.
1) What is the market value of the resource? If its market value is too low, then it may have no competitive strength. A high value gives a much better competitive strength.
2) Is the resource unique? If all the competitors have the same resource, then its value is no longer high. For example, the vast majority of car manufacturers today have the ability to install air conditions into their cars. 15 years ago, this was a ...
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