The VRIO analysis of Hallstead Jewelers Company is a broad range analysis supplying the company with a chance to get a feasible competitive benefit against its competitors in the food and beverage market, summarized in Exhibit I.
Valuable
The resources used by the Hallstead Jewelers business are valuable for the business or not. Such as the resources like finance, personnels, management of operations and professionals in marketing. This are a few of the key important elements of for the recognition of competitive advantage.
Rare
The valuable resources used by Hallstead Jewelers are even uncommon or expensive. If these resources are frequently discovered that it would be simpler for the competitors and the new rivals in the industry to easily move in competitors.
Imitation
The replica process is pricey for the competitors of Hallstead Jewelers Company. However, it can be done just in 2 various techniques i.e. product duplication which is produced and produced by Hallstead Jewelers Business and introducing of the substitute of the products with switching expense. This increases the hazard of disruption to the current structure of the market.
Organization
This part of VRIO analysis handle the compatibility of the company to place in the market making efficient use of its important resources which are hard to mimic. Often, the advancement of management is completely depending on the company's execution strategy and team. Hence, this polishes the skills of the company by time based upon the decisions made by company for the development of its tactical capitals.
Exhibit I: VRIO Analysis
