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Broadridge Financial Solutions 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 Broadridge Financial Solutions to do better resource allocation and build a defensible value and supply chain.
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What is a Valuable Resource for Broadridge Financial Solutions? Defining Valuable in VRIO
A resource or capability is considered valuable for Broadridge Financial Solutions , if it allows the
Broadridge Financial Solutions to exploit opportunities or negate threats
emerging out of both the micro business environment and the macro environment. If a resource does not allow Broadridge Financial Solutions to minimize threats or exploit opportunities, than it doesn't contribute signficantly to building a sustainable competitive advantage for Broadridge Financial Solutions.
What are Rare Resources for Broadridge Financial Solutions? Defining Rare in VRIO
In an industry that Broadridge Financial Solutions operates in, valuable resources are held by number of competitors. So valuable resources themselves don’t provide a sustainable competitive advantage. Broadridge Financial Solutions require rare resources to compete in the industry. If Broadridge Financial Solutions don’t have rare resources that are required to succeed in the industry then Broadridge Financial Solutions won’t be able to compete successfully in the marketplace. Secondly holding rare resources can provide Broadridge Financial Solutions competitive advantage against players that don’t have those rare resources. HBR Case Study Solution
What is a Inimitable (Difficult to Immitate) Resource for Broadridge Financial Solutions? Defining Inimitable in VRIO
A valuable and rare resource can provide a competitive advantage to Broadridge Financial Solutions 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. Broadridge Financial Solutions 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 Broadridge Financial Solutions
What is a Organization for Broadridge Financial Solutions? Defining Organization in VRIO
Even if the Broadridge Financial Solutions 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 Broadridge Financial Solutions 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 Broadridge Financial Solutions 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 Adjacent Industries that Broadridge Financial Solutions 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 |
Ability to Attract Talent in Various Local & Global Markets | Yes, Broadridge Financial Solutions 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 Broadridge Financial Solutions | To a large extent yes | Providing Strong Competitive Advantage |
Opportunities in the E-Commerce Space for Broadridge Financial Solutions - using Present IT Capabilities | Yes, the e-commerce space is rapidly growing and Broadridge Financial Solutions 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 |
Global and Local Presence of Broadridge Financial Solutions | Yes, as it diversify the revenue streams and isolate company's balance sheet from economic cycles | Yes | Can be imitated by competitors of Broadridge Financial Solutions but at a relatively high cost | Yes, it is one of the most diversified companies in its industry | Providing Strong Competitive Advantage |
Pricing Strategies of Broadridge Financial Solutions | Yes, Broadridge Financial Solutions has sound pricing strategies | No | Pricing strategies are regularly imitated in the industry | Yes, firm has a pricing analytics engine | It can only provide Broadridge Financial Solutions with a Temporary 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 Broadridge Financial Solutions | 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 |
Financial Resources of Broadridge Financial Solutions | Yes | No | Financial instruments and market liquidity are available to all the nearest competitors | Broadridge Financial Solutions has reasonably sound financial position | Broadridge Financial Solutions has relatively sustainable Competitive Advantage |
Broadridge Financial Solutions 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 Broadridge Financial Solutions | Broadridge Financial Solutions is leveraging the customer loyalty to good effect | Provide Broadridge Financial Solutions medium term competitive advantage |
Supply Chain Network Flexibility of Broadridge Financial Solutions | Yes | Yes | Near competitors also have flexible supply chain and share some of the suppliers | Fully utilized by Broadridge Financial Solutions organizational structure and capabilities | Keeps the business running |
Position among Retailers and Wholesalers – Broadridge Financial Solutions retail strategy | Yes, Broadridge Financial Solutions has strong relationship with retailers and wholesalers | Yes, Broadridge Financial Solutions has dedicated channel partners | Difficult to imitate though not impossible | Yes, over the years company has used it successfully | Sustainable Competitive Advantage |
Intellectual Property Rights, Copyrights, and Trademarks | Yes, they are extremely valuable for Broadridge Financial Solutions to thwart competition | Yes, IPR and other rights are rare and competition of Broadridge Financial Solutions 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 |
Vision of the Leadership for Next Set of Challenges | Yes | No | Can't be imitated by competitors of Broadridge Financial Solutions | Not based on information provided in the case | Can Lead to Strong Competitive Advantage |
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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