Tailored Brands 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 Tailored Brands to do better resource allocation and build a defensible value and supply chain.

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What is a Valuable Resource for Tailored Brands? Defining Valuable in VRIO

A resource or capability is considered valuable for Tailored Brands , if it allows the Tailored Brands to exploit opportunities or negate threats emerging out of both the micro business environment and the macro environment. If a resource does not allow Tailored Brands to minimize threats or exploit opportunities, than it doesn't contribute signficantly to building a sustainable competitive advantage for Tailored Brands.

What are Rare Resources for Tailored Brands? Defining Rare in VRIO

In an industry that Tailored Brands operates in, valuable resources are held by number of competitors. So valuable resources themselves don’t provide a sustainable competitive advantage. Tailored Brands require rare resources to compete in the industry. If Tailored Brands don’t have rare resources that are required to succeed in the industry then Tailored Brands won’t be able to compete successfully in the marketplace. Secondly holding rare resources can provide Tailored Brands competitive advantage against players that don’t have those rare resources. HBR Case Study Solution

What is a Inimitable (Difficult to Immitate) Resource for Tailored Brands? Defining Inimitable in VRIO

A valuable and rare resource can provide a competitive advantage to Tailored Brands 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. Tailored Brands 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 Tailored Brands

What is a Organization for Tailored Brands? Defining Organization in VRIO

Even if the Tailored Brands 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 Tailored Brands 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
Customer Community of Tailored Brands	Yes, as customers are co-creating products	Yes, the Tailored Brands has able to build a special relationship with its customers	It is very difficult for Tailored Brands competitors to imitate the culture and community dedication	Going by the data, there is still a lot of upside in building on Tailored Brands customers community ecosystem	Providing Strong Competitive Advantage
Supply Chain Network Flexibility of Tailored Brands	Yes	Yes	Near competitors also have flexible supply chain and share some of the suppliers	Fully utilized by Tailored Brands organizational structure and capabilities	Keeps the business running
Pricing Strategies of Tailored Brands	Yes, Tailored Brands has sound pricing strategies	No	Pricing strategies are regularly imitated in the industry	Yes, firm has a pricing analytics engine	It can only provide Tailored Brands with a Temporary Competitive Advantage
Ability to Attract Talent in Various Local & Global Markets	Yes, Tailored Brands strategy is built on successful innovation and localization of products	Yes, as talent is critical to firm's growth	Difficult to imitate for the current competitors of Tailored Brands	To a large extent yes	Providing Strong Competitive Advantage
Track Record of Leadership Team at Tailored Brands	Yes	Yes	Can't be imitated by competitors	Yes	Providing Strong Competitive Advantage
Tailored Brands 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 Tailored Brands	Tailored Brands is leveraging the customer loyalty to good effect	Provide Tailored Brands medium term competitive advantage
Sales Force and Channel Management of Tailored Brands	Yes	No	Can be imitated by competitors	Still there is lot of potential to utilize the excellent sales force	Can provide Tailored Brands sustainable competitive advantage. Potential is certainly there.
Position among Retailers and Wholesalers – Tailored Brands retail strategy	Yes, Tailored Brands has strong relationship with retailers and wholesalers	Yes, Tailored Brands has dedicated channel partners	Difficult to imitate though not impossible	Yes, over the years company has used it successfully	Sustainable Competitive Advantage
Brand awareness of Tailored Brands products and services	Yes, the brand awareness of Tailored Brands products are high	Yes, Tailored Brands has one of the leading brand in the industry	No	Tailored Brands has utilized its leading brand position in various segments	Sustainable Competitive Advantage
Access to Critical Raw Material for Successful Execution	Yes	Yes, as other competitors have to come to terms with Tailored Brands dominant market position	Can be imitated by competitors	Yes	Providing Sustainable Competitive Advantage
Talent to Manage Regulatory and Legal Obligations	Yes	No	Can be imitated by competitors	Yes	Not critical factor
Successful Implementation of Digital Strategy at Tailored Brands	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
Brand Positioning of Tailored Brands 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 for Brand Extensions for Tailored Brands 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

Tailored Brands 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