Project 2: Situation Audit
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Step7AnalyzeCriticalResources.docxStep 7: Analyze Critical Resources
Now that you've examined your organization’s big picture—MVGOs, size, and structure—you're going to analyze the critical resources of your organization for inclusion in your report.
Critical Resources
As you analyze your organization’s critical resources, follow the guidelines below:
· Consider whether your organization has the critical resources needed to accomplish its MVGOs, whether these are being used effectively, and whether they are being leveraged for competitive advantage.
· Read about resource-based theory and resource dependency theory to learn more about how and why certain resources may serve as a source of strength for an organization.
· Consider whether your organization has valuable, rare, inimitable, and nonsubstitutable (VRIN) resources (characteristics of resources) that it can use toward a competitive advantage, and whether these are sufficient given the market or markets in which your organization is operating.
Types of Critical Resources
Briefly explain the relevance of resource-based theory and resource dependency theory to an organization's critical resources; then analyze and discuss two or three highlights that pertain to your organization's human, financial, technological, and physical resources. Integrate, as appropriate, the VRIN characteristics (valuable, rare, inimitable, and non-substitutable) in your discussion of the four critical resources listed below. Each critical resource should be discussed separately.
