Understanding a company's capabilities is the key to a strong strategic marketing position

Docs en anglais | 7 pages | 27-06-2008 | Format : | Note : Non noté

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Résumé

'Understanding a company's capabilities is the key to a strong strategic marketing position' (Anon). By utilising theoretical models, supported by real-life examples, discuss the usefulness and practicality of this broad statement.

Extract:

The capacity to analyse the sources and methods of wealth creation and capture in a company is essential in an environment of rapid technological changes. That ensures a strong marketing position which allows gaining sustainable competitive advantage. It means that creation of wealth depends in large measure on internal technological, organizational and managerial processes inside the firm (John Wiley and Sons, Ltd, 1997). Firm-specific capabilities can be source of advantage exploiting existing internal and external firm specific competences to address changing environment. The concept of 'dynamic capabilities' can be found in Schumpeter (1942), Penrose (1959), Nelson and Winter (1982) or Prahalad and Hamel (1990). Each author emphasizes on the development of management capabilities and difficult-to-imitate combinations of organisational, functional and technological skills. An organisation is a set of interdependent elements, which in turn are dependent which the external environment. Resources of a firm mean tangible assets such as production facilities, raw materials, financial resources, real estate; intangible assets which are for instance brand names, company reputation, technical knowledge, patents; and organisational capabilities such as skills or way of combining assets (...)

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