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Jones Financial VRIO / VRIN Analysis | Assignment Help
What is VRIO / VRIN Analysis ?
VRIO stands for – Value of the resource, Rareness of the resource, Imitation Risk, and Organizational Competence.
VRIO is a resource focused strategic analysis tool.
To build a sustainable competitive advantage the resources that –casename— needs to be valuable, rare, and difficult to imitate. Secondly the –casename— needs to possess capabilities, organizational structure, and culture to optimize the available resources usage. VRIO analysis can help organizations such as Jones Financial to do better resource allocation and build a defensible value and supply chain.
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What is a Valuable Resource for Jones Financial? Defining Valuable in VRIO
A resource or capability is considered valuable for Jones Financial , if it allows the
Jones Financial to exploit opportunities or negate threats
emerging out of both the micro business environment and the macro environment. If a resource does not allow Jones Financial to minimize threats or exploit opportunities, than it doesn't contribute signficantly to building a sustainable competitive advantage for Jones Financial.
What are Rare Resources for Jones Financial? Defining Rare in VRIO
In an industry that Jones Financial operates in, valuable resources are held by number of competitors. So valuable resources themselves don’t provide a sustainable competitive advantage. Jones Financial require rare resources to compete in the industry. If Jones Financial don’t have rare resources that are required to succeed in the industry then Jones Financial won’t be able to compete successfully in the marketplace. Secondly holding rare resources can provide Jones Financial competitive advantage against players that don’t have those rare resources. HBR Case Study Solution
What is a Inimitable (Difficult to Immitate) Resource for Jones Financial? Defining Inimitable in VRIO
A valuable and rare resource can provide a competitive advantage to Jones Financial for certain period of time as all the competitors are going to try to imitate or replicate that resource. A sustained competitive advantage emerges, if the resource is difficult to imitate by the competitors. Jones Financial can create inmitability by innovating on the product side, reducing pain points on service delivery, and having an effective post sales servicing strategy.
Check out the SWOT analysis of Jones Financial
What is a Organization for Jones Financial? Defining Organization in VRIO
Even if the Jones Financial has all the valuable resources that are both rare and difficult to imitate, it won’t automatically result into a sustainable competitive advantage. The key to build the sustainable competitive advantage is to have organizational capabilities, expertise, and structure to exploit the resources. If Jones Financial is not organized based on its strengths then it won’t able to exploit all the resources that it possesses.
Resources | Value | Rare | Imitation | Organization | Competitive Advantage |
---|---|---|---|---|---|
Brand Positioning of Jones Financial in Comparison to the Competitors | Yes | No | Can be imitated by competitors but it will require big marketing budget | Yes, the firm has positioned its brands based on consumer behavior | Temporary Competitive Advantage |
Opportunities in the E-Commerce Space for Jones Financial - using Present IT Capabilities | Yes, the e-commerce space is rapidly growing and Jones Financial can exploit the emerging opportunities | No, most of the competitors are investing in IT to enter the space | The AI and inhouse analytics can be difficult to imitate | It is just the start for the organization | In the long run it can provide sustainable competitive advantage |
Alignment of Activities with Jones Financial Corporate Strategy | Yes | No | Each of the firm has its own strategy | Yes, company has organizational skills to extract the maximum out of it. | Still lots of potential to build on it |
Track Record of Project Execution | Yes, especially in an industry where there are frequent cost overun | Yes, especially in the segment that Jones Financial operates in | No, none of the competitors so far has able to imitate this expertise | Yes, Jones Financial is successful at it | Providing Strong Competitive Advantage |
Customer Community of Jones Financial | Yes, as customers are co-creating products | Yes, the Jones Financial has able to build a special relationship with its customers | It is very difficult for Jones Financial competitors to imitate the culture and community dedication | Going by the data, there is still a lot of upside in building on Jones Financial customers community ecosystem | Providing Strong Competitive Advantage |
Position among Retailers and Wholesalers – Jones Financial retail strategy | Yes, Jones Financial has strong relationship with retailers and wholesalers | Yes, Jones Financial has dedicated channel partners | Difficult to imitate though not impossible | Yes, over the years company has used it successfully | Sustainable Competitive Advantage |
Supply Chain Network Flexibility of Jones Financial | Yes | Yes | Near competitors also have flexible supply chain and share some of the suppliers | Fully utilized by Jones Financial organizational structure and capabilities | Keeps the business running |
Marketing Expertise within Jones Financial | Yes, firms are competing based on differentiation in the industry | No, as most of the competitors also have good marketing departments and expertise | Pricing strategies of Jones Financial are often matched by competitors | Yes, Jones Financial is leveraging both its inhouse marketing department and external expertise | Temporary Competitive Advantage |
Financial Resources of Jones Financial | Yes | No | Financial instruments and market liquidity are available to all the nearest competitors | Jones Financial has reasonably sound financial position | Jones Financial has relatively sustainable Competitive Advantage |
Opportunities for Brand Extensions for Jones Financial products | Yes, new niches are emerging in the market | No, as most of the competitors are also targeting those niches | Yes can be imitated by the competitors | Brand extensions will require higher marketing budget | Temporary Competitive Advantage |
Brand awareness of Jones Financial products and services | Yes, the brand awareness of Jones Financial products are high | Yes, Jones Financial has one of the leading brand in the industry | No | Jones Financial has utilized its leading brand position in various segments | Sustainable Competitive Advantage |
Pricing Strategies of Jones Financial | Yes, Jones Financial has sound pricing strategies | No | Pricing strategies are regularly imitated in the industry | Yes, firm has a pricing analytics engine | It can only provide Jones Financial with a Temporary Competitive Advantage |
Successful Implementation of Digital Strategy at Jones Financial | Yes, without a comprehensive digital strategy it is extremely difficult to compete | No, as most of the firms are investing into digitalizing operations | Can be imitated by competitors | One of the leading player in the industry | Digital strategy has become critical in the industry but it can't provide sustainable competitive advantage to |
Jones Financial Customer Network and Loyalty | Yes, 23% of the customers contribute to more than 84% of the sales revenue | Yes, firm has invested to build a strong customer loyalty | Has been tried by competitors but none of them are as successful as Jones Financial | Jones Financial is leveraging the customer loyalty to good effect | Provide Jones Financial medium term competitive advantage |
Jones Financial SWOT Analysis, SWOT Matrix, Weighted SWOT Case Study Solution & Analysis
Books and References
Ahir Gopaldas and Anton Siebert (2022 July August) "What You’re Getting Wrong About Customer Journeys",
Harvard Business Review , 92
Linda A. Hill, Emily Tedards, and Taran Swan (2021) "Drive Innovation with Better Decision-Making", Harvard Business Review 86
Dyer, J. H., & Hatch, N. (2004). Using Supplier Networks to Learn Faster. Sloan Management Review, 45(3), 57–63
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17, 99–120
Dyer, J. H., Kale, P., & Singh, H. (2004, July–August). When to ally and when to acquire. Harvard Business Review, 109–115
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