Lecture Contemporary strategy analysis: Concepts, techniques, applications (5th edition): Chapter 5 - Robert M. Grant

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Analyzing Resources &

Capabilities

Analyzing Resources &

Capabilities

• The role of resources and capabilities in strategy

formulation.

• The resources of the firm

• Organizational capabilities

• Appraising the profit potential of resources and

capabilities

• Creating new capabilities

.

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THE FIRM

Goals and

Values

Resources and

Capabilities

Structure and

Systems

THE

INDUSTRY

ENVIRONMENT

• Competitors

• Customers

• Suppliers

STRATEGY

The

Firm-Strategy

Interface

The

Environment-Strategy

Interface

Shifting the Focus of Strategy Analysis:

From the External to the Internal Environment

Shifting the Focus of Strategy Analysis:

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Rationale for the Resource-based

Approach to Strategy

Rationale for the Resource-based

Approach to Strategy

• When the external environment is subject to

rapid change, internal resources and capabilities

offer a more secure basis for strategy than

market focus.

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1946 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000

Honda
Technical
Research
Institute
founded

1st motorcycle:
98cc, 2-cycle
Dream D
4 cycle 
engine
405cc
motor
cycle
Power products:
ground tillers, marine

engines, generators,
pumps, chainsaws

snowblowers
First product: 
Model A
clip-on engine
for bicycles
The 50cc
Supercub
N360 mini
car
1000cc
Goldwing
touring
motor cycle
Acura Car
division
Competes in

Isle of Man TT
motorcycle
races
4-cylinder
750cc
motorcycle
Portable
generator

Enters Formula 1
Gran Prix racing

Honda

Civic Enters Indy
car racing
1st gasoline-powered

car to meet US Low
Emission Vehicle Standard

Civic GS
(natural
gas
powered)
Civic Hybrid
(dual gasoline/
electric)
Home 
co-generation
system
Honda FCX
fuel cell
car

The Evolution of Honda Motor Company

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Precision

Mechanics

Fine

Optics

Micro-Electronics

35mm SLR camera

Compact fashion camera

EOS autofocus camera

Digital camera

Video still camera

Plain-paper copier

Color copier

Color laser copier

Laser copier

Basic fax

Laser fax

Mask aligners

Excimer laser aligners

Stepper aligners

Inkjet printer

Laser printer

Color video printer

Calculator

Notebook computer

Canon: Products and Core Technical Capabilities

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Links between Products & Capabilities:

Capability-Based Strategy at 3M

Carborundum

mining

Carborundum

mining

Sandpaper

Scotchtape

Road signs

& markings

Road signs

& markings

Post-it notes

Audio tape

Surgical tapes

& dressings

Surgical tapes

& dressings

Videotape

Acetate

film

Acetate

film

Floppy disks &

data storage

products

Floppy disks &

data storage

products

Pharmaceuticals

Housewares/kit-chen products

Housewares/kit-chen products

Abrasives

Adhesives

Adhesives

development &

New-product

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Carborundum

mining

Carborundum

mining

Sandpaper

Scotchtape

Road signs

& markings

Road signs

& markings

Post-it notes

Audio tape

Surgical tapes

& dressings

Surgical tapes

& dressings

Videotape

Acetate

film

Acetate

film

Floppy disks &

data storage

products

Floppy disks &

data storage

products

Pharmaceuticals

Housewares/kit-chen products

Housewares/kit-chen products

Abrasives

Adhesives

Adhesives

development &

New-product

introduction

New-product

development &

introduction

Thin-film

technologies

Thin-film

technologies

PRODUCTS

CAPABILITIE

S

CAPABILITIE

S

Materials sciences

Health sciences

Microreplication

Flexible

circuitry

Flexible

circuitry

Evolution of Capabilities and Products: 3M

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Eastman Kodak’s Dilemma

1980’s

1990’s

Resources & Capabilities

Businesses

Chemical Imaging

• Organic Chemistry

• Polymer technology

• Optomechtronics

• Thin-film coatings

Brands

Global Distribution

Film

Cameras

DIVESTS

:

Eastman Chemical, Sterling Winthrop, Diagnostics

Need to build digital

imaging capability

Digital Imaging

Products (e.g. Photo CD

System; Advantix

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STRATEGY

INDUSTRY KEY

SUCCESS FACTORS

COMPETITIVE

ADVANTAGE

ORGANIZATIONAL

CAPABILITIES

RESOURCES

TANGIBLE INTANGIBLE HUMAN

• Financial

• Physical

• •

Technology

Reputation

• Culture

• Skills/know-how

• Capacity for

communication

& collaboration

• Motivation

The Links between Resources, Capabilities

and Competitive Advantage

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Appraising Resources

RESOURCE CHARACTERISTICS INDICATORS
 Financial Borrowing capacity Debt/ Equity ratio

Internal funds generation Credit rating

Tangible Net cash flow

Resources Physical Plant and equipment: Market value of 
size, location, technology fixed assets.
flexibility. Scale of plants
Land and buildings. Alternative uses for
Raw materials. fixed assets

Technology Patents, copyrights, know how No. of patents owned
R&D facilities. Royalty income

Intangible Technical and scientific R&D expenditure

Resources employees R&D staff

Reputation Brands. Customer loyalty. Company Brand equity

reputation (with suppliers, customers, Customer retention
government) Supplier loyalty

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Lecture Contemporary strategy analysis: Concepts, techniques, applications (5th edition): Chapter 5 - Robert M. Grant

<b>Analyzing Resources & </b>

<b>Capabilities</b>

<b>Analyzing Resources & </b>

<b>Capabilities</b>

•

<b>The role of resources and capabilities in strategy </b>

<b>formulation.</b>

•

<b>The resources of the firm</b>

•

<b>Organizational capabilities</b>

•

<b>Appraising the profit potential of resources and </b>

<b>capabilities </b>

•

<b><sub>Creating new capabilities</sub></b>

<b><sub>.</sub></b>

<b> THE FIRM</b>

<b>Goals and </b>

<b>Values</b>

<b>Resources and</b>

<b>Capabilities</b>

<b>Structure and </b>

<b>Systems</b>

<b>THE </b>

<b>INDUSTRY</b>

<b>ENVIRONMENT</b>

•

<b>Competitors</b>

•

<b>Customers</b>

•

<b>Suppliers</b>

<b>STRATEGY</b>

<b>STRATEGY</b>

<i><b>The</b></i>

<i><b> Firm-Strategy</b></i>

<i><b> Interface</b></i>

<i><b>The</b></i>

<i><b>Environment-Strategy</b></i>

<i><b> Interface</b></i>

<b>Shifting the Focus of Strategy Analysis:</b>

<b>From the External to the Internal Environment</b>

<b>Shifting the Focus of Strategy Analysis:</b>

<b>Rationale for the Resource-based </b>

<b>Approach to Strategy</b>

<b>Rationale for the Resource-based </b>

<b>Approach to Strategy</b>

•

<b>When the external environment is subject to </b>

<b>rapid change, internal resources and capabilities </b>

<b>offer a more secure basis for strategy than </b>

<b>market focus.</b>

1946 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000

<b> </b>

<b>The Evolution of Honda Motor Company</b>

<i><b>Precision </b></i>

<i><b>Mechanics</b></i>

<i><b>Fine</b></i>

<i><b> Optics</b></i>

<i><b></b></i>

<i><b>Micro-Electronics</b></i>

<b>35mm SLR camera</b>

<b>Compact fashion camera</b>

<b>EOS autofocus camera</b>

<b>Digital camera</b>

<b>Video still camera</b>

<b>Plain-paper copier</b>

<b>Color copier</b>

<b>Color laser copier </b>

<b>Laser copier</b>

<b>Basic fax</b>

<b>Laser fax</b>

<b>Mask aligners</b>

<b>Excimer laser aligners</b>

<b>Stepper aligners</b>

<b>Inkjet printer</b>

<b>Laser printer </b>

<b>Color video printer</b>