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The degree to which an organization's internal strengths matches with its external opportunities is known as its strategic fit. [6] [7] [8] Internal factors may include: [9] Human resources—staff, volunteers, board members, stakeholders; Physical resources—location, building, equipment, plant
Positive organizational behavior (POB) is defined as "the study and application of positively oriented human resource strengths and psychological capacities that can be measured, developed, and effectively managed for performance improvement in today's workplace" (Luthans, 2002a, p. 59).
Several tools have been developed one can use in order to analyze the resources and capabilities of a company. These include SWOT, value chain analysis, cash flow analysis and more. Benchmarking with relevant peers is a tool to assess the relative strengths of the resources and capabilities of the company compared to its competitors.
Jay Barney's 1991 article "Firm Resources and Sustained Competitive Advantage" is widely cited as a pivotal work in the emergence of the resource-based view, [2] although some scholars (see below) argue that there was evidence for a fragmentary resource-based theory from the 1930s. RBV proposes that firms are heterogeneous because they possess ...
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information.
Time banks are an example of using community assets to connect individuals' assets to one another. [8] Neighbors and local organizations share skills with one another and earn and spend ‘TimeBank Hours’ or ‘credits’ in the process, allowing an hour of child care to equal an hour of home repair or tax preparation.
The procurement of external resources is an important tenet of both the strategic and tactical management of any company. Nevertheless, a theory of the consequences of this importance was not formalized until the 1970s, with the publication of The External Control of Organizations: A Resource Dependence Perspective (Pfeffer and Salancik 1978 ...
For example, organizations that tend to hire or promote solely on the basis of technical skills, i.e. to the exclusion of other competencies, may experience an increase in performance-related issues (e.g. systems software designs versus relationship management skills)