In what respects has the process of globalization changed the Essay

In what respects has the process of globalization changed the international political agenda - Essay Example s closer and has created a level of interdependence between these nations, where the economies, social structures and security relationships of these countries have been connected in an interwoven web of an intricate delicacy.(Skolnikoff,2001). There are still those who suggest that the world has â€Å"gone beyond interdependence†, to the point that there has become â€Å"a tightly woven fabric of international agreements, organizations, and institutions that shape relations with each other and penetrate deeply into their internal economics and politics.† (Chayes &Chayes, 1995). Due to this, many people argue that the phenomenon of globalization has created a sense of demarcation of boundaries and territories and has threatened the age old concept of the Nation-state. Linklater (1998) comments that globalization has created a sense of pressure on the political systems of the world and "it has become essential to question the assumption that citizenship has no meaning apart from the sovereign nation-state†. This idea that the world has been interconnected to the point that there has arisen a lack of national identities has had far reaching impacts around the world and has not only effected social and economical factors of countries around the world but also the international political ideals and agendas. He says that â€Å"globalization and fragmentation erode traditional conceptions of the community and reduce the moral significance of national boundaries. Putzel (2004) is of the opinion that â€Å"patterns of globalization and liberalization need to be examined in light of their political consequences, especially in the context of situations of state collapse and violent conflict†. , a fact which has had a transformational effect on the terrain of politics and the political agendas of countries around the world. The author suggests that this movement of globalization which has weakened the concept of Nation-State and has instated a sort of semi-democracy in most

Qualitative and Quantitative Research Essay Example | Topics and Well Written Essays - 250 words

Qualitative and Quantitative Research - Essay Example Since quantitative research involves the heavy use of applied mathematics, such as statistical mathematics the analysis of data would be quicker analyze and would lead to a clearer understanding of the case at hand. As long as there is a manageable population size and a proper following of statistic formulation, quantitative research conclusions would be very accurate. The best reason for using qualitative research is the holistic insights given from the act of researching. Qualitative methods of research demand a descriptive understanding of the subject being studied. While quantitative methods of research use mathematics and statistics, qualitative methods of research make use of in depth analysis of secondary research approaches. This may include gathering information from books, journals or other academic works as references. Qualitative research allows researchers to come up with their own unique and justifiable conclusions based on the research they made from valid

Business Essays Business Plan

Business Essays Business Plan Business Plan Introduction To assess the viability of Star of India’s business plan, it is useful to consider three aspects of the plan: Suitability – concerned with whether the business plan fits the internal and external environment that Star of India operates in Acceptability – this refers to stakeholders’ expectations of the business plan Feasibility – this relates to how achievable the business plan is This report will address all three aspects and show whether the plan is viable under each. Suitability Suitability is concerned with analysing Star of India’s business plan based on an analysis of its internal and external environment to obtain its strengths, weaknesses, opportunities and threats. Strengths and Weaknesses Star of India’s strengths and weaknesses, derived from an analysis of its internal resources reveal the following: Money This is a definite strength as the return on capital employed (ROCE), gross and net margins are impressive ROCE calculated as net profit divided by capital employed and multiplied by 100 is 112% for the year ROCE reveals the amount of profit earned from the injection of capital or net assets into the business.   This high ROCE is due to the high net profit made from Star of India’s operations Gross margin calculated as gross profit divided by sales multiplied by a 100 is 75% Gross margin reveals that Star of India is efficient in converting the cost of goods sold into income from sales Net margin is calculated as net profit divided by sales and multiplied by 100 – i.e. 46% It compares how much profit Star of India makes when compared with  £1 of income.   It shows how effective the business will be in controlling its expenses These figures show that the plan is suitable from a financial perspective. Break-even is expected to occur between August and September, by which time the total sales revenue will equal total cost for the period.   The margin of safety, i.e. the excess of expected sales over break-even sales is approximately  £490,000 (i.e. total sales for the year minus total sales from April – August 2006). Marketing Marketing is a key consideration.   Good money is being spent on advertising.   Advertising in the industry is mainly through word of mouth and leaflets.   By advertising through television and radio, the possibility to gain increased business is real. As Star of India is an unknown quantity, it is vital that a lot of effort and money should go into marketing.   However, the business could use its considerable profits to invest more in Marketing/advertising. The price being charged for its dishes contributes to the high profits, but the question that needs to be addressed here is, is it suitable to achieve competitive advantage?   If the prices are below or match industry average then it is suitable – if not, then customers would rather go to an established competitor.   The prices charged are competitive. The plan has accounted for seasonal variation as demand should rightly decrease during the summer months due to holidays. Opportunities and Threats In this industry, the main issues are: The extent of competitive rivalry The social behaviour of the population Power of customers Health and safety issues Because the competition is fierce, Star of India must ensure the prices it charges at least matches the industry average.   Otherwise, customers (who have a lot of choice due to the numerous competitors) will eat elsewhere, bearing in mind Star of India is a new entrant to the restaurant business.   Therefore, matching industry average could be a threat as the Star of India brand is yet to be discovered and trusted People eat a lot outside their homes nowadays (social behaviour) due to increasingly busy lifestyles, this consequently means that the opportunities for getting a good customer base exist. Health and safety issues are very important to the government (who can close down business if unsatisfied with their health and safety initiatives or lack of it) and customers would basically like to eat in a clean environment – this provides an opportunity for Star of India. Acceptability For the business plan to be acceptable, it must meet the needs of the main stakeholders, who in this case are: The owner The customers The Government The employees These people will have different needs.   The business plan, on the whole will be acceptable to these shareholders due to the following: The owner The owner is interested in: Making a profit Increasing the number of customers Reducing costs The plan reveals that all of these will be met. As mentioned previously, ROCE, gross margin and net margin forecasts are impressive indeed and would no doubt exceed the management’s expectations especially during the first year of operation.   There is also a positive cash flow in all but one month.   This is important for the business to be able to honour its credit commitments as they fall due.   Star of India can also use the profits to grow the business.   The plan also indicates an increase in the customer base, starting with 1820 customers in April and ending the year with a forecast of 7000.   Again, this indicates a growth plan, which should be acceptable to the owner. Although costs will be rising, this will be at a slower rate than revenue – again, this is acceptable. The customers will be interested in obtaining quality food, at competitive prices in a clean environment, delivered with good customer service.   Star of India is confident of achieving all of these. To achieve the service needs of customers, the employees need to be well trained and highly motivated.   The plan for the next financial year is to use the profits to train and develop new and existing employees and also to reward them through incentives. The government needs to ensure that Health and Safety standards are being met, taxes are being paid and that customers and employees are not being exploited – consequently, Star of India is confident that the government will be acceptable. Feasibility The employee and management are experienced, therefore, delivering quality food through superior customer service is feasible. The business plan reveals there are enough resources to meet the costs of the business – arguably too much resource.   How many new businesses could make such vast amounts of money?   The plan has barriers in the form of competitive rivalry, so the forecasts could be at risk of being regarded as too optimistic, admittedly. The prices charged may need to be reviewed, if they are too high.   Even if they reflect industry prices, it would be advisable to lower them as Star of India is a new business.   This will ensure more customers who are made aware through advertising, will be attracted to the eatery, thus making the sales forecasts more realistic.   This could be done as a promotion, for instance, for six months. More money could also be allocated to advertising from the vast amount of profit to ensure the optimistic customer targets are achieved. Conclusion The plan is very viable, when taken into account its suitability and acceptability. However, although it appears feasible, Star of India could be a bit cleverer to achieve high market share and thus competitive advantage by cutting its prices – this should make it more feasible. The business should be an immense success if these factors are taken into account.   BIBLIOGRAPHY www.bized.ac.ukwww.businessknowhow.comwww.moneychimp.comwww.nonprofits.orgwww.smalltownmarketing.comwww.unb.ca

Lisa Bright & Dark Essay -- essays research papers

John Neufeld is the author of â€Å"Lisa Bright & Dark†. He lives and works in New York City these days. He was educated at Yale. His style of writing are usually touching stories. Finding information about John Neufeld is quite difficult since the Internet nor the book has provided any help whatsoever. Lisa Shilling is the main character of this book. She is just sixteen as she slowly loses her mind. Lisa is quite an example of teenager with problems which is why she’d be classified as a very real character. Her dangerous state of mind reflects the realism that this does happen. Her moods are forever changing. Lisa’s motivation as a teenager is to live her live normally. This is hard to do since she is in need of help. Many can relate to Lisa and her illness because it is among teenagers today. Her mother and father snub her off completely overlooking her serious unstableness. Luckily, she has friends that care enough to help her. The main conflict of this book is the struggle to convince Lisa’s parents that she is ill and needs serious help. Her parents did not pay attention in the beginning when Lisa started to act a little different. This is rather understandable. Lisa was in school and pricked herself with a needle that drew blood. Many told Lisa’s stubborn parents that she needed a psychiatrist. They simply refused to accept the fact that their daughter was in need of anything. When Lisa even screamed out that she needed help, they simply wouldn’t understand. She even w...

Mystery Shopper Next

For our marketing Research project we were required to carry out extensive research on the topic of mystery shopping. This project required us to construct a mystery shopping programme of a service business. The service business that was chosen was Next, a renowned retailer for fashion and homeware. The project will outline the objectives of the research and the mystery shopping programme.It will also examine the results of the programme and suggest possible recommendations. Methodology The primary objective of the report was to find out the public’s perception of Next. In order to attain this information, we decided it was best to initiate a mystery shopper programme. This programme involved hand-picking ten individuals, based on age, sex, and location, to act as consumers in Next. Each individual was to enter the chosen store and to return honest feedback on their experience, through the use of a questionnaire.The drafted questionnaire examined areas such as store layout, st aff, and ambience. The objective of this was to access direct knowledge of consumers opinions in areas that were outlined in the questionnaire and mystery shopper briefing. In order to eliminate bias, each selected individual was briefed on understanding the questionnaire and what aspects of the shop were to be examined. The chosen method provided us with objective feedback which was essential in the completion of the report. Findings In this section of the report we will show our findings of each store that was visited.Altogether there were seven stores visited. (Sligo, Enniskillen, Letterkenny, Athlone, Castlebar, Limerick and the store in the Jervis shopping centre in Dublin). These are our findings: Sligo The Sligo store is located in the quayside shopping centre in Sligo town. The store was visited on four occasions. On each occasion the store was clean and tidy on the inside and out. On every visit the changing rooms were tidy. The outside of the shop was attractive and inviti ng towards customers, with posters advertising a sale and an entrancing and eye catching clothes display in the window.The store is completely wheelchair accessible. No one was greeted as they entered the store, on one visit members of staff were standing around talking amongst themselves, and only one person thought that there was a welcoming atmosphere in the store as it was warm and there was calming music being played. Three out of four people were pleased with the temperature within the shop with one person thinking the air conditioning was turned up too high. The clothes on display were easy to reach for three out of four of the customers, with the same amount finding that all sizes were on display.Only on two of the visits were the staff wearing the correct uniform, such as name badges. On just two out of the four visits the staff asked if assistance was needed and only one customer said that eye contact was made with them and that they were polite. At the till there was an a verage of 1-4 till kiosks open with less than five people in each queue. On all four visits it did not take long to get served and all of the customers were thanked for shopping at the store, but found that the exit signs were not clearly illuminated.All four people said that they would recommend the Sligo store to others. The overall opinions of the store varied. One out of the four customers said that it was perfect. Out of the other three, more helpful staff, a new layout, lower shelves and a bigger store were mentioned. Enniskillen The Next store in Enniskillen is located in the Erneside shopping centre in Enniskillen. This store was visited on only one occasion. On this occasion the entrance and the outside of the store were clean and tidy. The inside was also tidy.It was attractive on the eye and the changing rooms were spotless. The outside of the shop looked attractive and inviting due to the black and white theme on the outside of the shop which ‘Next’ is renow ned for. The store is wheelchair accessible. The customer was not greeted by any member of staff on entrance to the store and thought the atmosphere was not welcoming as it was dark inside the store. The customer thought that the temperature in the store was comfortable. They were not asked however by any member of staff if they needed assistance.The customer found that some of the rails in the store were too high but all sizes were stocked and that the staff were helpful when asked about the sizes, but not all members of staff were wearing a name badge. At the checkout four checkouts were open and there was less than five people in the queue, and did not have to wait long to get served. The customer was thanked for shopping at the store and found that the exit signs were clearly visible. This customer said that they would recommend this store to others and that the staff were quite friendly but could have been more helpful.They’re overall opinion was that the store could be bigger with more or better lighting conditions. Letterkenny The Letterkenny store is located in Letterkenny Retail Park. This store was visited on one occasion. On this occasion the outside of the premises was not clean and tidy and did not look attractive and inviting to customers as it looked dirty. The store is wheelchair accessible. On entering the store the customer was not greeted by a member of staff and the atmosphere was not welcoming as the music in the store was very faint and couldn’t be heard clearly.Other than that the inside of the store was clean, tidy and attractive. The temperature in the shop was fine also. No member of staff asked the customer if they needed assistance. The customer was not able to reach some of the clothes as they were hung too high. Not all the sizes were displayed and stocked but the staff did check to see if they had the size in the store room. The changing room was tidy and uncluttered. When the customer got to the till four tills wer e in operation, there were more than five people in the queue and it took six minutes for them to get served.The staff at the checkout were described as friendly and thanked the customer for shopping in the store. The exit signs were clearly illuminated. The customer said their overall experience of shopping in the store was disappointing but acceptable. The customer also said that they would not recommend this store to others because not all sizes were stocked and the atmosphere in the shop and the customer service was poor, and suggested having more staff on the floor. Athlone The ‘Next’ store in Athlone is located in the Athlone Town shopping centre, just off the M6 motorway.This store was visited once only. The entrance to the store was clean and tidy and the outside of the store was attractive and inviting to customers. The store is wheelchair accessible. When the customer entered the store they were not greeted by anyone. The atmosphere within the shop was not wel coming as there was no music being played in the store, but the temperature was acceptable. The inside of the store was attractive, but the changing rooms were not tidy and unsatisfactory. The clothes were easy to view and reach but not all sizes were displayed.No member of staff asked if the customer needed assistance, but they were polite and helpful when getting a bigger size for the customer. All staff were wearing full uniform including name badges. When the customer got to the checkout there were four tills in operation and did not take long to get served. They were not thanked for shopping at the store but said the checkout staff were friendly and the exit signs were clear and illuminated. The customer said that they would recommend this store to others as they had a good overall experience in the store but feel that more staff are needed.Castlebar The Castlebar store is located in Lannagh Road Retail Park which is a five minute walk from the main street in Castlebar. The ent rance to the store was not up to standard as it was not clean and tidy, although the front of the shop was. The store is wheelchair accessible. When the customer entered the store they were greeted by a member of staff, and due to this made the atmosphere of the store feel welcoming. The inside of the store itself was clean and attractive and the temperature of the store was fine. A member of staff offered assistance, with a smile and good eye contact was made.All staff were wearing the correct uniform with their name badges. All of the sizes were displayed on the rails and they were easily accessible. The changing room was clean and tidy. At the till only a limited number of tills were in operation with less than five people in the queue and it took around three minutes to get served. The customer was thanked for shopping at the store and the exits were clearly marked and illuminated. This customer would recommend this store to others due to the friendly and welcoming atmosphere, b ut suggests better parking facilities. LimerickThe Limerick store is located in the Crescent shopping centre in Limerick which is situated two miles outside of Limerick city centre. The entrance to the shop was not clean and tidy and was blocked by a stand, this did not make the store look attractive and inviting to customers, although it was bright and lit up, the stand spoilt it. The store is wheelchair accessible. The customer was not greeted by a member of staff on entering the store and the atmosphere was not very welcoming. Also the store did not have a modern feel to it, which ‘Next’ would have a reputation for being.The store was not clean or tidy either. The temperature in the store was not sufficient as the customer found it very stuffy. One of the good points about this store was that a member of staff did ask if the customer needed assistance but did not smile or make eye contact while doing so. The staff were wearing the correct uniform including name badge s. The clothes were easily reachable on the rails but not all sizes were displayed or stocked and staff were not helpful when asked for another size. The changing room was clean and tidy.At the checkout there were 1-3 checkouts in operation with more than five people in the queue. It took ten minutes to get served, and the checkout staff did not speak. The customer was not thanked for shopping at the store but the exit signs were clear and illuminated. This customer would not recommend this store others due to not being felt welcomed or comfortable in the store and believes that the store should be renovated. Dublin There are many next stores in Dublin but the one that was visited was the one located in the Jervis shopping centre in Dublin city centre.This store was visited on one occasion. The entrance to the store was not clean and tidy but the outside of the store looked attractive and inviting due to the window display of the stores clothing. The store is wheelchair accessible. On entering the store the customer was not greeted by a member of staff, but the atmosphere was welcoming and the temperature in the store was nice and warm. The inside of the store was clean, tidy and attractive. The customer was not asked by any member of staff if they needed assistance. The clothes were easy to view and reach, and all sizes were displayed.The changing room was clean, tidy and uncluttered. At the till there were between 1-3 checkouts open, there was less than five people in the queue, it did not take long to get served. The staff were not neatly dressed and wearing their name badges but they were polite and made good eye contact with the customer and thanked the customer for shopping at the store. The exit signs were not clearly illuminated in this store. The customer would recommend this to others as the staff were very friendly. But said that they should be better dressed. RecommendationsIn this part of the report we outline the recommendations that we would mak e to Next based on our findings from the mystery shopping exercise. These are our recommendations: Firstly we believe that they should retrain right across the board. From shop assistants right up to managers. There should be a strict set of rules implemented into this training and an exam must be passed by all employees. The employees will then get a certificate to say that they have completed this. The managers would have to complete a more advanced course, dealing with all the topics the employees have to with a few added extras.During this training the following must be covered. Employees 1. Customers must be greeted when they walk in the door to make them feel welcomed. 2. Staff must ask customers if they need assistance within thirty seconds of them being on the premises. 3. When speaking to customers, speak politely and mannerly and eye contact must be made. 4. Correct uniform must be worn at all times. Especially a name badge. 5. Staff must make sure that the changing rooms are clean and clutter free at all times. 6. Make sure all sizes are on display. 7.If there is a substantial queue at the till, get another staff member to open another till. 8. Always thank the customer for shopping at the store. Managers 1. Make sure the outside of the premises is kept clean. 2. Delegate different employees to particular jobs. And make sure everybody knows what there job is. 3. Make sure that the music in the shop is on, clear and loud enough so the customers can hear it but not so loud that it is deafening. 4. Keep on top of the uniform issue as this was one of the weak areas of the mystery shopping survey.Secondly we believe that you should have a review of all your stores and try and complete any work that needs to be done. Such as a new layout or renovation. For example. The store in Limerick was described as not very modern. Next is well known for having a fashionable range of clothing and if the shop does not reflect this image then customers will not come in to the store. Another example would be a lot of rails have been described as too high. You could combat this by making them lower or having a hook that customers would use to reach the clothing. Finally we would recommend that you should look at your staffing policy.On a number of visits to your stores it has pointed out that if there was more staff then it would have been a better shopping experience. Even one more extra staff member per store would make a huge difference. Conclusion Overall, the project was a huge success. The implementation of the Questionnaire gave us valuable opinions which were vital in being able to recommend changes for the service. The physical aspect of the mystery shopper enabled us to gather first hand, unbiased information which would have been very difficult to receive, had another method of research been chosen. Appendices:

Exercise Among College Students Exercise - 1182 Words

Abstract Obesity has been a struggle that Americans have been trying to fight over the years but according to study’s many Americans don’t exercise at all. Although exercise is encouraged to Americans the obesity rates continue to increase. College students are vulnerable to weight gain because of the environment and obstacles that surround them. A survey was conducted at the University of Texas at El Paso asking the students questions towards exercising. This literature review will inform the reader how exercise plays an important role in a student’s life benefiting them in a variety of ways. Exercise among college students: A Review of Literature Many individuals become concerned about their weight and talk†¦show more content†¦Lack of exercise affects all individuals in any type of discourse community. Therefore college students should be encouraged to get exercise being that the students are vulnerable to gaining weight through college. Nelson (2009) expresses how parents are the encouragers and they report that 52% of students do not get exercise. If parents can encourage students to study, make friends, and join sports then why don’t they encourage them to exercise? Many college students are not aware of the importance of exercising and the benefits it comes with. A survey was taken at the University of Texas at El Paso asking the college students how important exercising was to them. Figure 1 shows the results: Out of 23 students 11 felt like exercising was extremely important. There was 2 students who believed exercise was slightly important which explains the numbers of Americans participating in physical activity going down. According to Desai (2008) â€Å"overweight and obesity are increasing nationally† (p. 1). In some cases lack of knowledge toward exercising can result in not getting the amount of exercise needed for the body and brain respond properly. 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Understanding The Resource Based View Concept Business Essay - Free Essay Example

Sample details Pages: 7 Words: 1981 Downloads: 6 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? Resource-based view (RBV) is a modern and promising concept that provides insights on both strategic and organisational matter. It is a manner of viewing the organisation and in turn of approaching strategy (Powell, 2007). Sustainable competitive advantages happen when a firm is executing a value-creating strategy that is not being executed by rivals and when these rivals are unable to replicate the benefits of this strategy (Henry, 2008). Don’t waste time! Our writers will create an original "Understanding The Resource Based View Concept Business Essay" essay for you Create order The achievement of sustainable competitive advantage can be anticipated to lead to higher performance measured in terms such as market-share and profitability (Sheehan and Foss, 2007). Thus, the main purpose of this critique is to determine whether resource based view analysis has a strong relationship with firms performance in attaining a sustainable competitive advantage. It is also to discuss the merits and demerits of RBV as the best strategy route in the development of a firms strategy and strengths and weaknesses of the RBV analysis in achieving competitive advantage and the contribution to firm-level value creation. 2.0 Body 2.1 Discussion In the dynamic environment faced by several firms, market positioning can become obsolete quickly because of new innovations, process enhancement and competitive environments. To compete successfully in these markets, it is said that organisations need to constantly craft new sources of competitive advantage (Powell and Thomas, n.d.) In order to achieve sustainable competitive advantage and good performance, it is said that resource based view theory is essential (Klein, 2011). RBV underlines the internal capabilities of an organisation in creating strategy to attain sustainable competitive advantage in its market and industries (Henry, 2008). RBV claims that organisations achieve and sustain competitive advantages by deploying valuable capabilities and resources that are inelastic in supply (Ray, Barney and Muhanna, 2004). Competitive advantage happens only in a situation of resource heterogeneity, diverse resources across organisations and resource immobility, the incapability of competing organisations to gain resources from other firms (Madhani, P.M., 2009). Given that competitive advantage occurs in a situation of resource heterogeneity, organisations should have some basic threshold resources in order to battle in the market (Andersen, J., 2011). A division should to be made between capabilities (resources or competences) that are at a threshold level and those that might assist the firms to achieve competitive advantage and higher performance. Threshold resources are significant but it does not of themselves generate competitive advantage or the source of higher performance. These are dependent on a firm having distinctive capabilities that rivals will find it complicated to replicate (Johnson, Scholes and Whittington, 2008). It is held that RBV can be used to discover if the organisation have any strategic resources which can be utilised to base the firms strategy on. However, according to RBV, not each and every resources of an organisation will b e strategic resources. If managers can recognise these resources, it permits them to cherish it. Besides that, managers in low performing organisation may exploit the RBV to discover resources that are deficient and inspect if it can be alternate or replicate these resources (Sheehan and Foss, 2007). Strategic assets offer the organisation with a source of stable stream of rents so that it achieves a sustained competitive advantage over its competitors. Barney proposes that such advantages depend in a critical way, on the resource endowments controlled by the firm. Hence, it is the stock of strategic assets that are significant in determining the organisation profitability level. Moreover, managers should highlight on the utilisation of already controlled resources to attain economic rents for the organisation (Kochhar, 1997). 2.2 Comparison of RBV and Porters analysis RBV is constantly seen as a substitute to Porters five forces framework. Porters framework generally emphasises on the external impact on strategy execution and it assist organisation to examine the five forces in an industry. The core disagreement is that the theory deals with the success of the industries instead of individual organisation. Hence, it does not assist firms to achieve sustainable competitive advantages. In contrast, RBV implies that organisations must place their self deliberately based on their unique, valuable and matchless resources and capabilities. Resources and capabilities are more lasting compared to markets and goods. Thus, resources and capabilities can be considered as a platform for an organisation to develop diverse goods for diverse market. So, leveraging capabilities and resources across many markets and goods becomes the strategic driver instead of targeting particular products for particular markets as in Porters analysis (Trainmor-knowmore, 2008) 2.3 Merits and demerits of RBV as the best strategy development of a firms strategy According to Connor (2002), RBV is an important, crucial and an inside-out management theory that is functional in developing victorious strategy. One of the merits of RBV as the best strategy route in development of an organisations strategy is RBV strategy recognises and highlights on the importance of resources in achieving sustainable competitive advantage. It focuses on the capability and efficiency of internal resources. Tangible and intangible resources are integrated with RBV. The RBV of strategy also crafts a framework for the management to think about their strength and weakness, understand marketing problems that aids to improve organisations performance (Falkenreck, 2010). RBV is also useful in understanding the nature of internal resources and their optimal exploitation (Connor, 2002). Although there are merits of RBV, it is not without demerits. The general demerit of RBV is RBV does not address the vital issues of how resources can created and change over time. So me researchers also have argued that RBV of strategy lacks in detail hence it is quite difficult to implement in an organisation (Henry, 2008). 2.4 Why do some firms outperform and maintain their competitive advantages over others? Advancement in strategy basically relies on how good the field responds to the question Why do a number of firms outperform others? and other corollary questions like, How do organisations penetrate into a spot where they can outperform others? and How can organisation uphold this spot? The RBV is a brilliant means for explaining why some firms outperform others (Sheehan and Foss, 2007). It suggests primary approach on why organisations with valuable, rare, inimitable, and well structured resources may benefit from high performance (Barney, 1995). Distinctive competencies are one of the traits of an organisation that permit it to practice a strategy more effectively and efficiently than other organisations (Barney and Arikan, 2001). However, a firms competence is merely distinctive when they emanate from traits which others do not have. For it to be sustainable, the traits must continue over time. One of the distinctive competencies is general management competence. General mana gers can have a major impact on the strategies an organisation choose and on the capability of the organisation to execute the strategies it created. It is argued that naturally organisations that comprise of good quality general managers will generally outperform organisations that comprise of low quality general managers. Thus, choosing and training good quality general managers is the essential strategic option for an organisation (Barney and Arikan, 2001). Organisations with distinctive competencies have power that may facilitate them to get hold of high performance and leaders as creative thinker and organisation builders instead of a decision makers and administrators. These would be the important source for a firm to outperform others (Selznick, 1957). A firms ability to innovate fruitfully is also a form of distinctive competencies which is sustainable and appropriable. For example, a firm can produce innovative products such as Apple with i-tunes and i-pod. In a survey to d iscover 50 most innovative companies around the world, it is revealed that Apple got the third place. Apples unrivalled innovation in product function and design is verifying that it is hard for competitors to chase. Both these competencies allows firm to outperform others (Henry, 2008). Besides that, core competence is also a trait for organisation that permits it to outperform and maintain competitive advantage over others (Barney and Arikan, 2001). Core competencies is known as the combined learning of the organisation, particularly how to synchronize various production ability and assimilate numerous streams of technology (Zubac, Hubbard and Johnson, 2010). A core competence should offer broad access to variety of markets, create important contribution to the perceived customer benefits of the end products and should be hard for rivals to imitate (Henry, A., 2008). Organisation that has core competencies will regularly realise that it is less complex to achieve competitive ad vantages. Thus, if an organisation wants to achieve high performance, its managers need to consider the activities that the organisation desires to engage into and the kinds of resources the organisation needs to exploit to permit those activities to take place as well as the assets and capabilities that an organisations managers have to manage (Barney and Arikan, 2001). Toyota is able to outperform other competitors because of its core competence. Its core competence develops from its capability to combine core competencies across the whole organisation. Toyota is delighted with its victory of its Prius, an electric-and-petrol hybrid car that has sold well in America. Its rivals such as General Motors, BMW and Ford are trying hard to produce their own hybrid car. However, Toyota believes that with practice they can master the fuel-saving technologies faster than its competitors. While the competitors try to integrate hybrid engines in their cars, Toyota is trying to cut the price o f the engines in half to make it harder for the competitor (Henry, 2008). 2.5 Strengths and weaknesses of RBV analysis in achieving competitive advantage and the contribution to firm-level value creation For organisations resources to achieve sustained competitive advantage, it is stated that the resources need to be valuable, rare, inimitable, and non-substitutable (Powell and Thomas, n.d.) Thus, if an organisations resources possess these characteristics, it allows the organisation to enter into new market and add value to the customers such as Toyotas hybrid car and Apples I-pod (Henry, 2008). This is one of the strengths of RBV analysis in achieving competitive advantage and the contribution to firm-level value creation. Furthermore, firms focusing on RBV have potential that permit them to produce at lower cost which will lead them to the benefit of focusing on cost-leadership strategy or create a better goods or service at standard cost compared to other firms with lower capabilities which leads them to focus on differentiation strategy (Johnson, Scholes and Whittington, 2008). The main critique of the RBV is that though it offers a theory of sustainability, it is not a con cept of value creation. If it is true, the usefulness of RBV as a strategic tool will be challenged (Sheehan and Foss, 2007).The RBV is mainly recognition of the uniqueness that resources have to generate rents in balance. This somewhat leave out the concern with process of crafting strategic resources through innovation and similar creative act or restoring such resources (Matthews, 2006). How should resources be pooled, in which proportions, quantity, sequence, etc. to yield value? These are vital implementation matters that are not considered in RBV (Sheehan and Foss, 2007). 3.0 Conclusion In conclusion, the existence of strategic resources is adequate to establish the potential for competitive advantage. Therefore, there is a strong relationship between resources and performance. The important elements of RBV of an organisation are the organisations main resources and the responsibility of management in changing these resources into situation of sustainable competitive advantage leads to superior performance in the marketplace (Sheehan and Foss, 2007). It is stated that RBV suits the best in a static or predictable context (Zubac, Hubbard and Johnson, 2010). Some research revealed that the RBV can be used at the level of the strategic group and the industry as well as the organisation (Fahy, 2000). RBV definitely has vast potential for assisting managers and organisations to improve their practices and performance (Klein, 2011). The flexibility of this framework makes it fairly adaptable to specific organisation or industrys situations (Stephane, 2007). Industries s uch as financial services are example of where sustainable advantages are hard to achieve and competitive moves are replicated quickly (Fahy and Smithee, 1999). As organisations industry environments have become unstable, thus the internal resources and capabilities have been suggested as a securer base for crafting strategy instead of external market focus (Grant, 2005).