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What is the difference between resources and capabilities and why do you need both?
A firms resources identifies its capabilities. Resources are the productive assets owned by the firm and capabilities speak to what the firm can do with those resources. Why the firm needs them? Without resources the the firms capabilities are limited.
How a firm's human resources influence organizational performance?
explain how a firm's human resources influence its performance
If a firm is unable to cover the cost of the resources employed by the firm (including the opportunity cost of resources owned by the firm) the firm will?
If a firm is unable to cover the cost of the resources employed, including the opportunity cost, it will likely incur losses and may ultimately have to exit the market. This situation indicates that the firm is not generating sufficient revenue to justify its operations. In the long run, if this condition persists, the firm will either need to improve its efficiency, increase its pricing, or find a more profitable use for its resources.
A firm's opportunity costs of using resources provided by the firm's owners are called what?
equity financing
The unique combination of resources experiences and expertise within a particular firm is called what?
The unique combination of resources, experiences, and expertise within a particular firm is called
Tom Cruise played Mitch McDeere in this movie?
The Firm. My source is gsn.com trivia.
Can the rational decision making model in a large firm be irrational in a small firm in a developing countries?
Yes, a large firm's resources would differ from those of a small firm in a developing country.
What provides the connections between the firm and its environment?
The firm's network of relationships, such as suppliers, customers, competitors, and regulatory agencies, provides the connections between the firm and its environment. These connections help the firm to gather information, resources, and support, and also influence the firm's strategic decisions and performance.
Cash expenditures a firm makes to pay for resources are called?
Explicit costs
What is managerial capacity?
ability of management to manage effictively productive resources of firm
What do you call a person who seeks source of funding for a firm?
they are called lobbyists.
When are resource and competencies valuable for a firm?
Resources are valuable for a firm because those are needed in order for production to occur. Competencies are necessary because a firm needs to be knowledgeable and competent in their business practices.
