Firm specific strengths that allow a company to differentiate its products and/or achieve substantially lower costs to achieve a competitive advantage.

Assets of a company

Knowledge of the internal rules, routines, and procedures of an organization that managers can leverage to achieve organizational objectives.

Something that is characterized by, or is the outcome of the interaction of multiple individuals

A characteristic of knowledge or such such that they cannot be documented or codified but may be understood through experience or intuition.

The combination of the organizational structure of a company, its control systems, its incentive systems, its organizational culture, and its human-capital strategy.

Knowledge, research, and information that is owned by an individual or organization.

Resources such as land, labor, managements plants, and equipment.

Resources such as process knowledge, organizational architecture, and intellectual property that contribute to a company's competitive advantage.

A framework managers use to determine the quality of a company's resources. Where V is value, R is rarity, I is inimitably, and O is for organization.

Factors or characteristics that make it difficult for another individual or company to replicate something.

When the way that one thing, A, leads to an outcome (or "causes"), B, is not clearly understood.

The concept that a company exists as a chain of activities that transform inputs into outputs.

Activities related to the design, creation, and delivery of the product, its marketing, its support and after-sales service.

Activities of the value chain that provide inputs that allow the primary activities to take place.

Measuring how well a company is doing bu comparing it to another company, or to itself, over time.

The output produced per employee

The sales produced by a dollar of capital invested in the business

Development of products that are new to the world or have superior attributes to existing products.

Development of a new process for producing and delivering products to customers.

Time that it takes for a good to be delivered or a service to be performed.