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Scripps Networks Interactive 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 Scripps Networks Interactive to do better resource allocation and build a defensible value and supply chain.
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What is a Valuable Resource for Scripps Networks Interactive? Defining Valuable in VRIO
A resource or capability is considered valuable for Scripps Networks Interactive , if it allows the
Scripps Networks Interactive to exploit opportunities or negate threats
emerging out of both the micro business environment and the macro environment. If a resource does not allow Scripps Networks Interactive to minimize threats or exploit opportunities, than it doesn't contribute signficantly to building a sustainable competitive advantage for Scripps Networks Interactive.
What are Rare Resources for Scripps Networks Interactive? Defining Rare in VRIO
In an industry that Scripps Networks Interactive operates in, valuable resources are held by number of competitors. So valuable resources themselves don’t provide a sustainable competitive advantage. Scripps Networks Interactive require rare resources to compete in the industry. If Scripps Networks Interactive don’t have rare resources that are required to succeed in the industry then Scripps Networks Interactive won’t be able to compete successfully in the marketplace. Secondly holding rare resources can provide Scripps Networks Interactive competitive advantage against players that don’t have those rare resources. HBR Case Study Solution
What is a Inimitable (Difficult to Immitate) Resource for Scripps Networks Interactive? Defining Inimitable in VRIO
A valuable and rare resource can provide a competitive advantage to Scripps Networks Interactive 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. Scripps Networks Interactive 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 Scripps Networks Interactive
What is a Organization for Scripps Networks Interactive? Defining Organization in VRIO
Even if the Scripps Networks Interactive 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 Scripps Networks Interactive 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 |
---|---|---|---|---|---|
Opportunities in the Adjacent Industries that Scripps Networks Interactive can exploit & New Resources Required to Enter those Industries | Can be valuable as they will create new revenue streams | No | Can be imitated by competitors | All the capabilities of the organization are not fully utilized yet | Has potential |
Brand Positioning of Scripps Networks Interactive 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 |
Pricing Strategies of Scripps Networks Interactive | Yes, Scripps Networks Interactive has sound pricing strategies | No | Pricing strategies are regularly imitated in the industry | Yes, firm has a pricing analytics engine | It can only provide Scripps Networks Interactive with a Temporary Competitive Advantage |
Access to Critical Raw Material for Successful Execution | Yes | Yes, as other competitors have to come to terms with Scripps Networks Interactive dominant market position | Can be imitated by competitors | Yes | Providing Sustainable Competitive Advantage |
Customer Community of Scripps Networks Interactive | Yes, as customers are co-creating products | Yes, the Scripps Networks Interactive has able to build a special relationship with its customers | It is very difficult for Scripps Networks Interactive competitors to imitate the culture and community dedication | Going by the data, there is still a lot of upside in building on Scripps Networks Interactive customers community ecosystem | Providing Strong Competitive Advantage |
Track Record of Leadership Team at Scripps Networks Interactive | Yes | Yes | Can't be imitated by competitors | Yes | Providing Strong Competitive Advantage |
Intellectual Property Rights, Copyrights, and Trademarks | Yes, they are extremely valuable for Scripps Networks Interactive to thwart competition | Yes, IPR and other rights are rare and competition of Scripps Networks Interactive will find it extremely difficult to copy | Risk of imitation is low but given the margins in the industry disruption chances are high | So far the firm has not utilized the full extent of its IPR & other properties | Providing Strong Competitive Advantage |
Alignment of Activities with Scripps Networks Interactive 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 |
Financial Resources of Scripps Networks Interactive | Yes | No | Financial instruments and market liquidity are available to all the nearest competitors | Scripps Networks Interactive has reasonably sound financial position | Scripps Networks Interactive has relatively sustainable Competitive Advantage |
Position among Retailers and Wholesalers – Scripps Networks Interactive retail strategy | Yes, Scripps Networks Interactive has strong relationship with retailers and wholesalers | Yes, Scripps Networks Interactive has dedicated channel partners | Difficult to imitate though not impossible | Yes, over the years company has used it successfully | Sustainable Competitive Advantage |
Sales Force and Channel Management of Scripps Networks Interactive | Yes | No | Can be imitated by competitors | Still there is lot of potential to utilize the excellent sales force | Can provide Scripps Networks Interactive sustainable competitive advantage. Potential is certainly there. |
Distribution and Logistics Costs Competitiveness | Yes, as it helps Scripps Networks Interactive in delivering lower costs | No | Can be imitated by competitors of Scripps Networks Interactive but it is difficult | Yes | Medium to Long Term Competitive Advantage |
Global and Local Presence of Scripps Networks Interactive | Yes, as it diversify the revenue streams and isolate company's balance sheet from economic cycles | Yes | Can be imitated by competitors of Scripps Networks Interactive but at a relatively high cost | Yes, it is one of the most diversified companies in its industry | Providing Strong Competitive Advantage |
Successful Implementation of Digital Strategy at Scripps Networks Interactive | 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 |
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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