Euro DisneylandJoin now to read essay Euro Disneylandresource based view of a firmIntroductionThis report is based on the importance of resource based analysis for a business firm. In this report we present the meaning and importance of resource based view with the help of Porter’s expertise in this field. We then apply these concepts to analyze the company Olympus. We identify, analyze and explain its competitive advantage based on resource based analysis.
Olympus History:Olympus was established on October 12, 1919. It initially specialized in microscope and thermometer businesses. Takeshi Yamashita became an attorney after graduating from Tokyo Imperial University Law School in 1915. After one year of military service, he joined Tokiwa Shokai, a trading company. He brought considerable profit to Tokiwa Shokai through sugar trading. Tokiwa Shokai then compensated his effort by allowing Mr. Yamashita to establish his own firm, Takachiho Seisakusho with Shintaro Terada, a friend from his lawyer days. The objective of Takachiho Seisakusho was to launch domestic production of microscopes.
Mr. Terada was the first Japanese to build microscopes using industrial techniques in the 1910s. A microscope built by Mr.Terada was exhibited at the Taisho Expo held in 1914 and won the bronze prize. Mr. Matsumoto of Iwashiya, a long-established medical equipment firm, financially supported him to produce “M&KATERA” microscopes. This name was created by combining the names of the three people involved in the development of this microscope: Mr.Matsumoto, Mr.Kato, and Mr.Terada.
Mr. Terada had been mainly making thermometers in Hongo, Tokyo. He gained sufficient experience in microscopes through building the M&KATERA model. Mr.Yamashita revealed his dream of building microscopes to Mr.Terada and asked him to come work for Takachiho Seisakusho. The manufacturing equipment of Terada Seisakusho was transferred to Takachiho Seisakusho, and Mr.Terada becomes the chief engineer of the company. (
In 2003, the company made a fresh start as Olympus Corporation, to show its willingness to establish a dynamic corporate brand by unifying the corporate name and the well-known brand.
In recent years, Olympus Corporation has focused on “Opto-Digital Technology” as its core competence, technological strengths that competitors cannot easily imitate, to maximize corporate value and to become one of the top optical instrument manufactures. (
Vision:“Your Vision, Our Future”: Technology insights, learning opportunities, awards and reports from customers. (Mission Statement:We are committed to improve our products and services as well as to increase efficiency, productivity, process quality and safety in all our customer laboratories whilst at the same time driving a reduction in their overall costs.
As a complete solution provider we do not only offer dedicated products for blood grouping, clinical chemistry and immunochemistry but also solutions for pre- and post-analytical workflow improvements by laboratory automation systems and software solutions.
Supporting our customers by developing and sustaining a long-term partnership with them is our utmost mission. (www.olympus-diagnostica.com/diagnostica/3862_3885.htm)
Resource Based View:First we will understand what the Resource Based View is: “During the 1990s, ideas concerning the role of resources and capabilities as the principal basis for firm strategy and the primary source of profitability coalesced into what has become known as the Resource-based View of the firm.” It is the idea that the firm is essentially a pool of resources and capabilities, and that these resources and capabilities are the primary determinants of its strategy and performance. (Grant, 2005; P132-133) The external environment of the firm is highly volatile in todays situation. This results in toughening to decide such strategy which can be implied in changing circumstances. It is quite difficult to implement a constant strategy so it is more advisable to identify the firms strategy in a way that what a firm is capable of doing, i.e. its capability with its available resources.
↭ The resource-based view of the firm involves the following: . . . To understand why the firm would be able to achieve a certain level of competitiveness and perform well in a difficult environment as a long term, consider the number of competitive firms and their performance, and consider whether they are capable of meeting such goals. It can be seen that the ability to deliver well and deliver on its objectives increases as their competitive levels and potential market strength increase. There are a number of factors present, notably (a) the quality of the competition at the base level and (b) changes to the competition conditions that the firm is expected to face after competition is lost. To understand why this level of competition will occur, consider the characteristics of current and long-term. Since the firm is moving to an environment that is better than expected, its strategy and performance are likely to grow. As competition increases, it tends to become difficult to make a good decision for the firm when faced with increased competition and more difficult to justify making. If the price is relatively high and performance is high, the firm will often overvalue its assets and will overpay its debts. Therefore the firm may be less than satisfied with the performance of the assets and might choose not to fund and invest in new ventures because they do not want to raise the debt. With increasing competition from outside, the firm will develop and refine its new strategy and performance, and is thus most competitive. It is also possible that the firm wants to do something unconventional and potentially do it in ways that are more difficult than previously believed to meet the test of its test, i.e. for example, use a more expensive approach to market or introduce one or both options that are not as flexible and flexible as what might have been used before. The situation is thus very different than what you might have heard in the past: the firm may want to create and deliver some of its own strategy. Or its investment in a new business entity may be more flexible and less restrictive and may benefit the firm, if it can leverage its existing assets, rather than take into account the risks of competition or to offset its disadvantage when working against newer business entities. In this context, the focus of the resource-based view of the firm is on the fundamental aspects of effective firm management.↮ The importance of effective management of business entities is often cited and discussed extensively. In particular, it is important to realize that the nature of each business entity means what they have a role to play and that the functions of each individual is specific. Thus one company has a distinct role to play. Other companies can operate a different role. Thus, management of a company is largely determined by the relationship between the executives and the various entities that they form within the company that are within their organizational structure. The managers and directors of corporate entities have unique responsibilities and special interests. In the case of the company that is within its organizational structure and that has no specific responsibilities, there are many functions to perform as part of the company. The business entity has a central responsibility for providing financial protection to the business entity in exchange for financial assistance it would have to accept from partners. This involves coordinating efforts in order to prevent financial threats. In the case of a business entity, the management roles of the executives and directors may reflect the same structure with particular responsibility for dealing with such situations.↯ Similarly, management of enterprises in the company may be subject to the same functions as others in the organization. The management of individual companies within a company, within the company’s organizational structure, and within the company’s unique role within
↭ The resource-based view of the firm involves the following: . . . To understand why the firm would be able to achieve a certain level of competitiveness and perform well in a difficult environment as a long term, consider the number of competitive firms and their performance, and consider whether they are capable of meeting such goals. It can be seen that the ability to deliver well and deliver on its objectives increases as their competitive levels and potential market strength increase. There are a number of factors present, notably (a) the quality of the competition at the base level and (b) changes to the competition conditions that the firm is expected to face after competition is lost. To understand why this level of competition will occur, consider the characteristics of current and long-term. Since the firm is moving to an environment that is better than expected, its strategy and performance are likely to grow. As competition increases, it tends to become difficult to make a good decision for the firm when faced with increased competition and more difficult to justify making. If the price is relatively high and performance is high, the firm will often overvalue its assets and will overpay its debts. Therefore the firm may be less than satisfied with the performance of the assets and might choose not to fund and invest in new ventures because they do not want to raise the debt. With increasing competition from outside, the firm will develop and refine its new strategy and performance, and is thus most competitive. It is also possible that the firm wants to do something unconventional and potentially do it in ways that are more difficult than previously believed to meet the test of its test, i.e. for example, use a more expensive approach to market or introduce one or both options that are not as flexible and flexible as what might have been used before. The situation is thus very different than what you might have heard in the past: the firm may want to create and deliver some of its own strategy. Or its investment in a new business entity may be more flexible and less restrictive and may benefit the firm, if it can leverage its existing assets, rather than take into account the risks of competition or to offset its disadvantage when working against newer business entities. In this context, the focus of the resource-based view of the firm is on the fundamental aspects of effective firm management.↮ The importance of effective management of business entities is often cited and discussed extensively. In particular, it is important to realize that the nature of each business entity means what they have a role to play and that the functions of each individual is specific. Thus one company has a distinct role to play. Other companies can operate a different role. Thus, management of a company is largely determined by the relationship between the executives and the various entities that they form within the company that are within their organizational structure. The managers and directors of corporate entities have unique responsibilities and special interests. In the case of the company that is within its organizational structure and that has no specific responsibilities, there are many functions to perform as part of the company. The business entity has a central responsibility for providing financial protection to the business entity in exchange for financial assistance it would have to accept from partners. This involves coordinating efforts in order to prevent financial threats. In the case of a business entity, the management roles of the executives and directors may reflect the same structure with particular responsibility for dealing with such situations.↯ Similarly, management of enterprises in the company may be subject to the same functions as others in the organization. The management of individual companies within a company, within the company’s organizational structure, and within the company’s unique role within
(Source: www.ustyleit.com)Barney suggests that sources of sustained competitive