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7. Wozu dient das VRIO Framework? Beschreiben Sie das Modell VRIO is a framework that helps to assess the competitive implications of firm’s resources. V stands for valuable, R for rare, I for costly to imitate and O for ability to be organized to capture the value of resources. A resource is valuable if it provides a firm an advantage of external opportunity and/or neutralize external threats. A resource is rare if there are more firms that want it than the firms that have it. A resource is costly to imitate when firms that don’t have it are having problems with developing or buying it for comparable to other firms’ price. The firm is organized to capture the value of resources only if it is organized enough to fully exploit the competitive potential.

15. Was ist die vertikale Integration? Beschreiben Sie, welche vertikale Integration Formen gibt es? Vertical integration is an ownership of the firm’s production of the input or distributional channels of the output. Vertical integration does make sense when costs for doing some activities indoor are lower than transacting them in the market. There are 2 types of vertical integration. The first one is forward vertical integration which is concentrated on moving closer an ownership of some activities to its customer (moving downstream). The other one is backward vertical integration which moves its ownership of some value chain activities closer to top of the value chain (input). 11. Beschreiben Sie Economies of scale und the learning curve, was ist der größte Unterschied zwischen denen und wie helfen die bei der Erreichung des dauerhaften Wettbewerbsvorteiles Economies of scale is making cost per unit lower as the output increases. Economies of scale are based on the volume of the output. Learning curve is based on learning by doing concept. Which means decrease of the costs with the increase of output thanks to being able to apply all the learnt skills. By learning curve, the underlying technology remains constant, while only cumulative output increases. The biggest difference between these 2 is the reason of decrease of the costs. Learning curve benefit is difference in timing. Learning curve effect is shown only after the output accumulates, while economies of scale are captured at one point in time. Moreover, there is difference in complexity. In some cases, effects from economies of scale can be significant, while learning curve are minimal. According to other professions learning curve can be substantial, while economies of scale are minimal....