Organizational Resources and VRIO Framework

Front

is any factor that’s necessary to accomplish a goal or carry out an activity. They are the components that a business needs in order to do business.

Back

resource

Front

What are the types of business/organizational resources?

Back

1. Labor 2. Management 3. Expertise 4. Equipment 5. Finances 6. Energy 7. Land 8. Time

Front

it includes all of the people who work for you and the jobs that they do.

Back

Labor

Front

Without a guiding hand, many businesses would end up achieving very little.

Back

management

Front

knowledge of your domain and the practices that help you sucessful is crucial.

Back

Expertise

Front

Businesses may require specialized tools, whether it’s special hardware, a unique piece of software, or a machine designed to do a certain task.

Back

equipment

Front

it can include the payment of wages, the purchase of equipment, or the renting of a workspace.

Back

Finances

Front

it comes in the form of gasoline to power a fleet of trucks, or electricity to keep an office full of computers running.

Back

energy

Front

it is exceptional as a resource because it does not need to be produced; it can be refined to suit a particular business’s needs.

Back

Land

Front

Why must businesses treat time as a resource?

Back

Since no business can achieve its ends instantaneously, every business needs to treat time as a resource.