The VRIO analysis of Eric Wood A Company is a broad variety analysis offering the company with an opportunity to obtain a feasible competitive benefit versus its rivals in the food and drink industry, summed up in Exhibition I.
Valuable
The resources utilized by the Eric Wood A company are valuable for the company or not. Such as the resources like finance, human resources, management of operations and professionals in marketing. This are some of the crucial valuable aspects of for the identification of competitive advantage.
Rare
The important resources utilized by Eric Wood A are even rare or expensive. If these resources are commonly found that it would be simpler for the rivals and the new competitors in the industry to easily move in competition.
Imitation
The imitation process is pricey for the competitors of Eric Wood A Company. It can be done just in two various strategies i.e. product duplication which is produced and made by Eric Wood A Company and introducing of the alternative of the products with switching cost. This increases the hazard of interruption to the recent structure of the market.
Organization
This element of VRIO analysis handle the compatibility of the company to position in the market making efficient usage of its important resources which are hard to imitate. Regularly, the development of management is completely dependent on the company's execution method and group. Therefore, this polishes the abilities of the firm by time based on the choices made by company for the development of its tactical capitals.
Exhibit I: VRIO Analysis
