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A Review on the Article Written by Jay B

In: Business and Management

Submitted By usaid
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REVIEW OF “LOOKING INSIDE FOR COMPETITIVE ADVANTAGE”
What do we look for in order to attain competitive advantage? Where will we look? How will we find it? Well, there are a lot of questions that could be asked so that we can source out a firm's competitive advantage. Several things are needs to be assessed, evaluated and decided on in order to formulate a firm's competitive advantage. For Jay Barney, the author of Looking inside for competitive advantage, a company's competitive advantage can be source out from its external opportunities and threats and its internal strengths and weaknesses. From these environmental factors, we can now pick up the strengths, weaknesses, opportunities and threats of the company. Along with these strengths, weaknesses, opportunities and threats, are resources and capabilities that either utilize the opportunities and strengths or counteract with threats and weaknesses of the firm. The author Jay B. Barney indirectly states that valuable tools are available to analyze external forces but there seems to be a lack of valuable tools to analyze internal Strengths and Weaknesses, in the article referred to as “internal attributes” or

“resources and capabilities” that are built on a company’s financial, physical, human, and organizational assets. In order to overcome this gap Michael Porter and his associates have developed a number of these models and frameworks for analyzing environmental opportunities and threats. Porter worked on the "FIVE FORCES MODEL” * Rivalry among competing firms * Potential entry of new competitors * Potential development of substitute products * Bargaining power of suppliers * Bargaining power of customers
These are few examples of firms who integrated internal strengths and weaknesses with external threats and opportunities * WalMart, a firm that has, for the last twenty years,

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