RESOURCE AUDIT

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RESOURCE AUDIT:

RESOURCE AUDIT Pradip Singh Assistant Professor SAMS Varanasi

MEANING:

MEANING The term audit has been derived from Latin word “audire” which means hear. In simple terms audit can be defined as official inspection. Resource audit can be described as analysis or inspection of resources of an organization. It can also be called as Internal Resource Analysis. Resources includes tangible as well as intangible.

STRATEGIC IMPORTANCE OF RESOURCES:

STRATEGIC IMPORTANCE OF RESOURCES AVAILABLE RESOURCES : Resources which an organization possess. Resources that are deployed into the activities of the organization to create competences. Resources include both those that are owned by the organization and those that can accessed to support its strategies. Resources are grouped under the following heads : Physical Resources, Human Resource, Financial Resources, Intellectual capital

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THRESHOLD RESOURCES : Threshold means a level or point at which something begins. Threshold resources means a minimum level of resources which an organization must have in order to carry out the business. Resources that are indispensable. This threshold increases with time.

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UNIQUE RESOURCES : Are those resources which critically underpin competitive advantage. In simple words resources which differentiate an organization from its competitors. e.g. : Retailer’s prime location.

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Csf of supermarket supermarket One stop shopping Lower price Store location Product range Threshold resources & competence Low cost supplies Prime location Unique product Management of own brand supply Unique resource and competence Computerized billing

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Resources Competence Same as Competitor or Easy to imitate Better than Competitor or Difficult to imitate* Threshold Resource Threshold competences Unique resource Core competences * Provides the basis to outperform competitors

CORE COMPETENCE:

CORE COMPETENCE Core competences are activities or process that critically underpin an organization's competitive advantage. They create the ability to meet the critical success factors * of particular customer groups better than other providers in ways that are difficult to imitate. * Critical Success factors are those product features that are particularly valued by a group of customers and therefore, where the organization must excel to outperform competition.

Core Competence must Fulfill the Following criteria:

Core Competence must Fulfill the Following criteria Delivering Value For Money Sources of cost efficiency Cost Efficiency Experience Economies of scale Product/Process Design Supply Cost

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Product Features : is related to how well it is able to provide product features that are valued at a given price. * It can be done by operating effectively. Benchmarking : Performing better than competitors. In other words it is concerned with the ability to meet and beat the performance of competitors.

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Robustness : A important consideration about core competence is the extent to which they are robust i.e. difficult to imitate.

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Sources Of Robustness Complexity: Internal linkages External linkages Linked technologies Culture Culturally embedded Competences Difficult to identify Casual ambiguity Competitors are unclear about the bases Of success Rarity : Unique resources Preferred access Situation dependent Sunk cost

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THANK YOU...

VALUE CHAIN ANALYSIS:

VALUE CHAIN ANALYSIS Value chain analysis describes the activities within and around an organization which together create a product or service. In other words, it consist of identifying the series of activities which are undertaken by the firm for meeting customer demand and in respect of which firm may have an edge over its competitors.

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