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Medical Mutual of Ohio 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 Medical Mutual of Ohio to do better resource allocation and build a defensible value and supply chain.
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What is a Valuable Resource for Medical Mutual of Ohio? Defining Valuable in VRIO
A resource or capability is considered valuable for Medical Mutual of Ohio , if it allows the
Medical Mutual of Ohio to exploit opportunities or negate threats
emerging out of both the micro business environment and the macro environment. If a resource does not allow Medical Mutual of Ohio to minimize threats or exploit opportunities, than it doesn't contribute signficantly to building a sustainable competitive advantage for Medical Mutual of Ohio.
What are Rare Resources for Medical Mutual of Ohio? Defining Rare in VRIO
In an industry that Medical Mutual of Ohio operates in, valuable resources are held by number of competitors. So valuable resources themselves don’t provide a sustainable competitive advantage. Medical Mutual of Ohio require rare resources to compete in the industry. If Medical Mutual of Ohio don’t have rare resources that are required to succeed in the industry then Medical Mutual of Ohio won’t be able to compete successfully in the marketplace. Secondly holding rare resources can provide Medical Mutual of Ohio competitive advantage against players that don’t have those rare resources. HBR Case Study Solution
What is a Inimitable (Difficult to Immitate) Resource for Medical Mutual of Ohio? Defining Inimitable in VRIO
A valuable and rare resource can provide a competitive advantage to Medical Mutual of Ohio 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. Medical Mutual of Ohio 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 Medical Mutual of Ohio
What is a Organization for Medical Mutual of Ohio? Defining Organization in VRIO
Even if the Medical Mutual of Ohio 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 Medical Mutual of Ohio 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 |
---|---|---|---|---|---|
Access to Cheap Capital for Medical Mutual of Ohio | Yes, as a leading player in the industry and current macro economic conditions, Medical Mutual of Ohio has access to cheap capital | No | Can be imitated by the competitors of Medical Mutual of Ohio | Not been totally exploited | Not significant in creating competitive advantage |
Talent to Manage Regulatory and Legal Obligations | Yes | No | Can be imitated by competitors | Yes | Not critical factor |
Sales Force and Channel Management of Medical Mutual of Ohio | Yes | No | Can be imitated by competitors | Still there is lot of potential to utilize the excellent sales force | Can provide Medical Mutual of Ohio sustainable competitive advantage. Potential is certainly there. |
Medical Mutual of Ohio 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 Medical Mutual of Ohio | Medical Mutual of Ohio is leveraging the customer loyalty to good effect | Provide Medical Mutual of Ohio medium term competitive advantage |
Brand Positioning of Medical Mutual of Ohio 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 |
Marketing Expertise within Medical Mutual of Ohio | 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 Medical Mutual of Ohio are often matched by competitors | Yes, Medical Mutual of Ohio is leveraging both its inhouse marketing department and external expertise | Temporary Competitive Advantage |
Opportunities for Brand Extensions for Medical Mutual of Ohio 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 |
Opportunities in the E-Commerce Space for Medical Mutual of Ohio - using Present IT Capabilities | Yes, the e-commerce space is rapidly growing and Medical Mutual of Ohio 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 |
Pricing Strategies of Medical Mutual of Ohio | Yes, Medical Mutual of Ohio has sound pricing strategies | No | Pricing strategies are regularly imitated in the industry | Yes, firm has a pricing analytics engine | It can only provide Medical Mutual of Ohio with a Temporary Competitive Advantage |
Alignment of Activities with Medical Mutual of Ohio 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 Leadership Team at Medical Mutual of Ohio | 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 Medical Mutual of Ohio to thwart competition | Yes, IPR and other rights are rare and competition of Medical Mutual of Ohio 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 |
Track Record of Project Execution | Yes, especially in an industry where there are frequent cost overun | Yes, especially in the segment that Medical Mutual of Ohio operates in | No, none of the competitors so far has able to imitate this expertise | Yes, Medical Mutual of Ohio is successful at it | Providing Strong Competitive Advantage |
Distribution and Logistics Costs Competitiveness | Yes, as it helps Medical Mutual of Ohio in delivering lower costs | No | Can be imitated by competitors of Medical Mutual of Ohio but it is difficult | Yes | Medium to Long Term Competitive Advantage |
Medical Mutual of Ohio 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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