Grant, 1991 - A Resource-Based Approach to Strategy Analysis
4 important questions on Grant, 1991 - A Resource-Based Approach to Strategy Analysis
Grant has made a Practical Framework based on which an organisation can formulate a strategy which consists of a 5-stage procedure. What are these 5 steps that an organisation can follow for strategy formulation?
- Identification of resources (sustainability)
- Identification of capabilities
- Appraise rent generation potential (appropriability)
- Select strategy
- Identify resource gaps, invest
Once you have a concept strategy, what is important to look into in terms of the resources and capabilities that the strategy is based on?
To what can 'rent-generation' also be translated?
- Higher grades + faster learning
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If you identify gaps, how do you ditch these gaps?
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- Never study anything twice again
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