gs Review View Table Design Layout Normal Tele Using VRIO framework answer the f
ID: 349838 • Letter: G
Question
gs Review View Table Design Layout Normal Tele Using VRIO framework answer the following questions Among the resources presented at the auction, which ones are valuable? Explain. b. Among these valuable resources, which ones are rare? Explain. Among these valuable and rare resources, which ones are costly to imitate/substitute? Explain. Use the table provided to submit your answers. Egg Drop Auction 1A cardboard box $20 $10 $15 $15 $25 $15 $15 525 $15 $30 10 $15 $20 2 Toilet paper (20 sheets) 3 Aset of 2 plastic bags (Kroger) 4 Elastic bands (8) A set of 2 paper cups 6 A sticky tape on a cork 130 paper clips 8 Astring (4 feet) 9 Tissue paper (10 sheets) 10 A cereal box hop sticks without paper cover 12 Chop sticks with paper cover 13 Drinking plastic straws 14 People magazine 15 One sock (3) 16 A rock 17 An alien with a soccer ball key ring 18 A tape tube 19 A size 4 diaper 20 A kids hanger 21 Bubble paper 22 A set of 4 red cloth pins 23 A string for gift wrapping (4 feet) 24 An inflatable emoji beach ball (small) $15 $10 $5 $30 $15 $15 $25 $60Explanation / Answer
1. Valuable Resources:
Among the list of resources, the following are valuable ones.
A set of 2 plastic bags (Kroger)
A set of 2 paper cups
A sticky tape on cork
30 paper clips
Chop sticks with paper cover
A Kids hanger
Bubble paper
30 paper clips
An inflatable emoji beach ball (small)
When we use VRIO framework and discuss about valuable resources, we define those resources as valuable which are opportunities for the firm to exploit in case of certain scenarios such as change in technology, demography, economic climate and certain change in political or legal conditions etc.
The above listed products are examples of shifting usage pattern from traditional materials to a new zone of eco-friendliness and easy to dispose. When we venture into new zones of need of customers, we cater to changing perceptions, changing technological needs to come up with the desired products and to a certain demography of population. And when we sail into new horizon, we create value for the organization by bringing in more revenue realization potential and an ability to sustain future competition in the market.
2. Rare resources
Among the above valuable resources, the following resources will fall into the rare category
A set of paper cups
30 paper clips
Chop sticks with paper cover
The above listed products are rare because these cater to a new segment than the traditional metal, glass or plastic products. As the new industry is evolving, these products don’t make aplenty in quantity in the market with the expected quality of the customers. So there is huge potential to fulfil the gap of demand and supply.
3. Costly to imitate/substitute
Among the valuable products a sticky tape on a cork and an inflatable emoji beach ball are costly to imitate because of the set up cost and economy of scale. The already established player has the advantage of setting up the shop and producing in mass quantity which lowers the cost because of economy of scale. So it will be costly for a new entrant to imitate the product.
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