Buy custom Competing on Resources: Strategy in the 1990s. 
    
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            | Topic: | Business | 
        
            | Number of pages / Number of words: | 3 / 836 | 
                
    
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It is critical that companies realize this and respond to macroenvironmental forces appropriately.
3) Test of appropropriability: Does the company capture the value that the resource creates? Key individuals are often times viewed as the key resources and can leave an organization at any given notice...
        
        
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It's important to base a strategy on resources that are bound to the company as a whole.
4) Test of substitutability ? can a unique resource be replaced by a different one? This deals with the threat of substitute products. The threat of substitutes can render unique resources obsolete, as was the case in the steel industry when aluminum manufacturers stole the market share for beverage cans...
        
        
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            General points of the essay
            
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