Thursday, April 9, 2020

Your Venture’s Unfair Advantage

1.     Human Capital
a.     V: highly valuable for management reasons
b.     R: not really rare with most ventures
c.     I: can be hard to copy depending on the level of the business and those that work in it
d.     N: cannot be substituted, highly necessary
2.     Social Capital
a.     V: highly valuable to create a brand name and create relationships with consumers
b.     R: rare in certain circumstances depending on the business
c.     I: genuine social capital cannot be imitated because its real connections
d.     N: cannot be substituted
3.     Financial Capital
a.     V: valuable so that the venture can operate
b.     R: not rare, commonplace among ventures
c.     I: cannot be imitated because a real necessity
d.     N: cannot be substituted
4.     Physical capital
a.     V: valuable so that the venture can produce the necessary means to box product  
b.     R: not rare, commonplace among ventures for packaging and creating products
c.     I: cannot be imitated because a real necessity
d.     N: can be substituted or circumvented because suppliers and middlemen   
5.     Workforce
a.     V: not too valuable because size of workforce depends on scale and necessity of the business, can be a one man operation 
b.     R: not rare, commonplace for all businesses
c.     I: can be imitated using machinery and computers 
d.     N: can be substituted for machines 
6.     Technology
a.     V: valuable so that the venture can operate in modern day and age
b.     R: not rare, commonplace in today’s modern era
c.     I: can be imitated by various software  
d.     N: cannot be substituted because necessary to reach markets nowadays
7.     Mindset
a.     V: valuable for healthy relations among staff and consumers
b.     R: sometimes rare depending on industry or field
c.     I: can be imitated by false people 
d.     N: can be substituted by automation 
8.     Comfort
a.     V: valuable so that staff are at peak performance
b.     R: rare because of bad workplace values
c.     I: cannot be imitated because a real necessity
d.     N: cannot be substituted
9.     Integrity
a.     V: valuable to keep business margins up and importance of core values of businesses
b.     R: rare because most businesses look out for best solutions for them rather than the consumer
c.     I: can be imitated by false promises and fake people  
d.     N: can be substituted by sneaky marketing and propping up of false facts
10.  Youth
a.     V: not too valuable because all businesses can succeed no matter age  
b.     R: not rare, many ventures have young professionals
c.     I: cannot be imitated because youth is biological
d.     N: can be substituted not necessary to success

Top resource: social capital because received the most coherent VRIN analysis and realized it was the greatest strength that I currently possess for my oppo

3 comments:

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  2. Hello Austin,

    I think that you did a great job highlighting all the ten resources that makes you and your business venture stand out from the competition. Your whole assignment structure was very clear and easy to follow, and you did a great job highlighting each part of the VRIN analysis. I also noticed that your top resource was social capital. Overall, great work all-around!

    Sincerely,

    Javier Alfredo Felis Perez

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  3. Hey Austin,
    I think that you picked out a good selection of unfair advantages for this assignment. You kept your post neat and easy to follow. Your VRIN analysis was well done as you looked at all the components for it for each individual resource.I also think it is great that you were able to select your most important resource and have an understanding as to why it is your best one.
    All the best,
    Luis

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