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Homework answers / question archive / Jewellery, a UAE based jewellery brand, maybe imitated, but its reputation cannot - Identify the aspect of VRIO framework that applies to this scenario and justify your choice
Jewellery, a UAE based jewellery brand, maybe imitated, but its reputation cannot - Identify the aspect of VRIO framework that applies to this scenario and justify your choice. (2 marks)
The VRIO framework in the business strategy development is used to categorize the competitive advantage the business is having over the peers that support as a added advantage for the long term sustainability of the business in the competitive business environment .
In the case of the following example – “O Jewellery “ can be categorized in to the third 3rd aspect of the VRIO framework that aid in its in long term subsistence and the creation of a competitive advantage
|
No |
Framework |
Description |
|
1 |
Valuable |
· This applies for the class of procure its and services that adds a specific set of values to thhe customers |
|
2 |
Rare |
· This aspect determines the offerings are unique and rare in comparison to the competitors offering |
|
3 |
Inimitable |
· Our case of O jewellery falls in this segment that the competitive advantage of the fact that the proprietary designs and unique elements used and offered by them cannot be duplicated by the competitors |
|
4 |
Organized |
· And finally the development of the organized management system leads to the successful achievement of full competitive advantage over the competitors in the business environment |
O jewellery by the application of the Inimitable part of the vrio framework thus can achieve competitive parity along with the proper use of the unused competitive advantage to make the product and service offering inimitable for the competitors and help in the development of a long term and sustainable competitive advantage
