Three Ways That Create Value for a Firm Essay Example | Topics and Well Written Essays - 1000 words

Three Ways That Create Value for a Firm - Essay Example It is not merely identifying a product but as Durkin (1997) states innovative firms make investments in knowledge to develop new products which give them a monopoly in the international market. The second contention is on the resource-based theory (RBT) of the firm where rare and valuable resources give it a sustainable competitive advantage (Peteraf & Wernerfelt cited by Bowman & Ambrosini, 2000) while the third approach states that firms should be able to seize opportunities faster than other firms and gain value. The first approach pertains to product and industry innovation while the third concentrates on strategy innovation. The knowledge development in the first approach again would imply investments in resources – technical or human. Hence, all three approaches are not independent of each other although each has its own distinctive features. The positional approach is also based on Porter’s theory of five competitive forces which determine the firm’s profitability and attractiveness (Porter, 1985). The journal does not specify whether the industry and value of such firms relate to competitiveness in their own nation or the nation where products have been marketed. Pharmaceutical industries operate globally and hence this aspect is not clear whereas Porter insists that competitiveness and productivity pertain to national productivity, which should enhance the value of the firm in the nation in which it operates (Davies & Ellis, 2000). Resources can be defined as anything that gives advantage or disadvantage to the firm. (Mills et al, 2003). The support theory of Johnson et al (2005) divides the resources as threshold resources and unique resources, where threshold resource satisfies customer’s minimum requirements and unique resources contribute to competitive advantage and make it difficult for the competitor to copy the value. A successful business needs to secure the resources according to Scott et al (2005) which the journal specifies

Battle Of Chickamauga Research Paper Example | Topics and Well Written Essays - 2250 words

Battle Of Chickamauga - Research Paper Example With the help of operation process the commander implemented mission of command. In this battle both the commanders gave direction, support and guidance to the army working under him. As per ADRP 5-0, during this war MG Rosecrans was unable to describe, understand and direct his army properly. The main roles of a commander are to analyze its operations, utilize its resources and communicate effectively with the army for implementing decision properly. MG Rosecrans used cavalry for delivering messages and establishing courier lines which failed miserably. He focused more on La Fayette Road for reaching Chattanooga. But if he had used Dry Valley and Vittetoe roads then he could have gained various opportunities to win the battle. MG Rosecrans was highly involved in managing different small issues of army. He was not concerned about the end result and was generating feasible options. He did not understand the operational environment of the war. Moreover MG Rosecrans failed to deliver his command properly on 20th September which made his army weak in the war. Calvary was used in the war for delivering message and developing courier line. MG Rosecrans used cavalry for managing the army during the war. The misuse of cavalry made the Army of the Cumberland weak. The commander was unable to important information through cavalry. If the commander used cavalry for gathering intelligence then he could have gained strong position in the war. The commander should have focused on exploring various routes for conducting surveillances by using cavalry1. MG Rosecrans relied mainly on couriers for communicating information. He did not used Signal Corps effectively for communicating with its subordinates. There was a need for improved communication in the war. But lack of planning and inefficient use of assets made the communication process weak.