related to Core Competencies
after Edith Penrose
- Valuable
- some monetary value needs to be attached to it
- Rare
- also a brand can be rare → not everyone can have Red Bull’s brand
- can be knowledge as well → employing the smartest people
- Inimitable (Mathlessness)
- difficult to fake → mostly knowledge based
- Organization
- resource embedded in organizational structure
- e.g. software embedded into company with specialist people
- software is useless without the people able to use it
Examples
- expert software
- water (Nestle) → Monopoly
- network (customers and experts)