Resource Model Assessment Of The Production Process Of Dairy Farms Essay

Modern day farming has transformed from the farming process of last century. Instead of farmers producing for their families, farmers are now similar to input/output managers supplying massive manufacturers that feed the country.

Natural resources are materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain, and Arkansas is rich with natural resources.

A strategic resource can be defined as a “firm’s capabilities that are valuable, rare, costly to imitate, and costly to substitute, and experience many barriers to imitation” (Dess, et al., 2012, p. 95). Charm City Run possess strong organizational

Selecting a business strategy that details valuable resources and distinctive competencies, strategizing all resources and capabilities and ensuring they are all employed and exploited, and building and regenerating valuable resources and distinctive competencies is key. The analysis of resources, capabilities and core competencies describes the external environment which is subject to change quickly. Based off this information a firm has to be prepared and know its internal resources and capabilities and offer a more secure strategy. Furthermore, resources and capabilities are the primary source of profitability. Resources entail intangible, tangible, and human resources.

The land provided numerous natural resources to help with the development of agriculture, which also helped the area to develop. Some areas were close to the ocean that leads to specific fish and ocean creatures being easily accessible. Some of the most prominent resources that were available

Barney, J. (2004). Firm resources and Sustained Competitive Advantage. Strategy: Process Content Context: an international perspective, de Wit & Meyer , 285-292.

This paper uses the terms natural resource(s), resource(s), and reserve(s) in many different contexts. Please use care when interpreting their usage and context.

History has explained the fact that at one point in time, the earth's natural resources had no limit. Raw materials were plenty, because of the fact that there were plenty of natural resources to go around. Natural resources can be identified as the raw materials that comes from the earth and are useful. Natural resources can never be made by humans. Athough, these raw materials can be modified, or altered to benefit corporations and businesses. For example, natural resources are fossil fuels like petroleum, natural gas, and coal. Minerals like diamonds, gold, and copper are natural resources that come from the earth. Other resources are known as natural vegetation, like forests and timber. Animals are our earth's natural resources as well, like salmon, deer, whales, chickens, etc. The air we breathe, and the wind are all also natural resources. Water, like lakes, rivers and

Competitive strategy, after Porter, came to be defined as the strategy of a business unit which seeks to achieve sustainable Competitive Advantage (SCA). The literature on strategy deems the market-based view (MBV) and the resource –based view (RBV) as two approaches to giving businesses the competitive edge they need to compete in their industries. Aside from having competitive advantage as their ultimate goal, the two approaches are also similar in the sense that they both make use of particular tools and models in their undertakings. They also differ in numerous ways,

This strategy emphasizes the use of an organization’s resources and capabilities to achieve a core competence that cannot be imitated by competitors. Furthermore, the resource based school argues that if an organization distinctively improves its internal capability; that is being able to have effective inside machinery to deliver products and services to customers, the organization will enjoy a massive advantage in the market. This school also argues that in order to have a competitive advantage, an organization must have resource and capabilities that are sophisticated to those of competitors (QuickMBA,

Resource-Based Theory has been one among the prevailing theories in strategic management (Acedo, Barroso & Galan, 2006). As the father of the modern Resource-Based View (RBV), Barney (1991) explored that RBV underlines strategic choice, challenging the organization 's management with the essential tasks of identifying and deploying main resources to maximize returns. Correspondingly, Rothaermel (2012:05) defined that the RBV is a model that points out resources as main role to superior firm performance; “If a resource exhibits VRIO attributes, the resource enables the firm to gain and sustain competitive advantage”. However, according to Grant & Marah (2013:116), “individual resources do not confer competitive advantages; they must work together to create capabilities”.

Strategy can be defined as being different from one’s competitors, finding the race to operate and accomplished it. According to Michael Porter (1996), while becoming better at what you do is desirable, it will not benefit you in the long run because it is something other competitors can also do. Strategies for organizations are originally developed by Michael E. Porter in 1979 by introducing the five forces model. A company can identify the industry profitability and attractiveness by analyzing the five forces of Porter (Johnson et al., 2008). And then a reasonable strategy can be set up in line with the strengths and the weakness of an organization is able to create a plan for a stronger position for the organization within its

Competitive advantage is explained by Mahoney and Pandian (1992) as the function of industry analysis, organizational governance and the firm’s effects in the form of resource advantages and strategies. In order for a firm to be competitive it must adapt to the volatile business environment and through strategic management decisions establish a competitive advantage that will ultimately produce superior performance relative to its competitors (Akimova 2000).

1) Barney, J., (1991). Firm Resources and Sustained Competitive Advantage, Journal of Management, vol. 17 (1991), no. 1, pp. 99–120.

For transforming a short-run competitive advantage into a sustained competitive advantage we require resources that are heterogeneous in nature and not perfectly mobile. This translates into valuable resources that are neither perfectly imitable nor substitutable without great effort. If these conditions are fulfilled then the bundle of resources can sustain the firm's above average returns.