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Tribune Media 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 Tribune Media to do better resource allocation and build a defensible value and supply chain.
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What is a Valuable Resource for Tribune Media? Defining Valuable in VRIO
A resource or capability is considered valuable for Tribune Media , if it allows the
Tribune Media to exploit opportunities or negate threats
emerging out of both the micro business environment and the macro environment. If a resource does not allow Tribune Media to minimize threats or exploit opportunities, than it doesn't contribute signficantly to building a sustainable competitive advantage for Tribune Media.
What are Rare Resources for Tribune Media? Defining Rare in VRIO
In an industry that Tribune Media operates in, valuable resources are held by number of competitors. So valuable resources themselves don’t provide a sustainable competitive advantage. Tribune Media require rare resources to compete in the industry. If Tribune Media don’t have rare resources that are required to succeed in the industry then Tribune Media won’t be able to compete successfully in the marketplace. Secondly holding rare resources can provide Tribune Media competitive advantage against players that don’t have those rare resources. HBR Case Study Solution
What is a Inimitable (Difficult to Immitate) Resource for Tribune Media? Defining Inimitable in VRIO
A valuable and rare resource can provide a competitive advantage to Tribune Media 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. Tribune Media 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 Tribune Media
What is a Organization for Tribune Media? Defining Organization in VRIO
Even if the Tribune Media 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 Tribune Media 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 Critical Raw Material for Successful Execution | Yes | Yes, as other competitors have to come to terms with Tribune Media dominant market position | Can be imitated by competitors | Yes | Providing Sustainable Competitive Advantage |
Brand Positioning of Tribune Media 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 |
Track Record of Leadership Team at Tribune Media | Yes | Yes | Can't be imitated by competitors | Yes | Providing Strong Competitive Advantage |
Product Portfolio and Synergy among Various Product Lines of Tribune Media | Yes, it is valuable in the industry given the various segmentations & consumer preferences. | Most of the competitors are trying to enter the lucrative segments | Can be imitated by the competitors | The firm has used it to good effect, details can be found in case exhibit | Provide short term competitive advantage but requires constant innovation to sustain |
Tribune Media 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 Tribune Media | Tribune Media is leveraging the customer loyalty to good effect | Provide Tribune Media medium term competitive advantage |
Pricing Strategies of Tribune Media | Yes, Tribune Media has sound pricing strategies | No | Pricing strategies are regularly imitated in the industry | Yes, firm has a pricing analytics engine | It can only provide Tribune Media with a Temporary Competitive Advantage |
Financial Resources of Tribune Media | Yes | No | Financial instruments and market liquidity are available to all the nearest competitors | Tribune Media has reasonably sound financial position | Tribune Media has relatively sustainable Competitive Advantage |
Track Record of Project Execution | Yes, especially in an industry where there are frequent cost overun | Yes, especially in the segment that Tribune Media operates in | No, none of the competitors so far has able to imitate this expertise | Yes, Tribune Media is successful at it | Providing Strong Competitive Advantage |
Alignment of Activities with Tribune Media 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 |
Opportunities in the E-Commerce Space for Tribune Media - using Present IT Capabilities | Yes, the e-commerce space is rapidly growing and Tribune Media 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 |
Position among Retailers and Wholesalers – Tribune Media retail strategy | Yes, Tribune Media has strong relationship with retailers and wholesalers | Yes, Tribune Media has dedicated channel partners | Difficult to imitate though not impossible | Yes, over the years company has used it successfully | Sustainable Competitive Advantage |
Distribution and Logistics Costs Competitiveness | Yes, as it helps Tribune Media in delivering lower costs | No | Can be imitated by competitors of Tribune Media but it is difficult | Yes | Medium to Long Term Competitive Advantage |
Opportunities in the Adjacent Industries that Tribune Media 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 awareness of Tribune Media products and services | Yes, the brand awareness of Tribune Media products are high | Yes, Tribune Media has one of the leading brand in the industry | No | Tribune Media has utilized its leading brand position in various segments | Sustainable Competitive Advantage |
Tribune Media 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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