Toward understanding resources, competencies, and capabilities: business model generation approach

Abstract

Understanding internal sources of competitive advantage has become a major area of research in strategic management. Resources are a business's assets, capabilities are the ability to exploit its resources, and competency is a cross-functional integration and coordination of capabilities. But the problem of not understanding what is really meant by resources, competencies, and capabilities still arises. Toward understanding what is really meant, MEKTORY - business model generation competition case studies are analysed. The main purpose to develop a better understanding has reached. It can be stated that the overarching goal of strategic management and also business model generating is creating and capturing value for core stakeholders. Strategy is here defined as a series of goal-directed plans and activities that align a business's structure, culture, and resources with the opportunities and threats in its environment. The main implication of the current research is the understanding that resources are always means, competencies powers, and capabilities abilities. Methodologically the research is valuable used modern text analytics for an innovative way to present, and to garner deeper insight from text. It is recommended that further research should include evolutionary approaches, which are not explicitly used as a theoretical framework in strategic management. Further normative value research might investigate what should be the ownership values for successful companies.