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The Gold Story Case VRIO Analysis

CASE STUDY


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Several locations can be determined where FG has an one-upmanship over its competitors. These areas would certainly be evaluated using the The Gold Story VIRO framework where the 'value', 'inimitability', 'rarity' as well as organization' of FG would be assessed in regards to its payment in the direction of its competitive edge. The framework has actually been shown in appendix 3.

It can be seen that FG is offering a value-added product, which is not simply a means of getting high margins for business, but is useful for the customer too. Smoked fish and shellfish products are considered as value-added items therefore FG is certainly using value to the market as well as to the entrepreneur in the kind of high saving possibility from fish products. FG's capacity to generate original Eastern passionate smoked seafood products can be thought about a supreme skill.

The business has placed barriers to entrance for new participants by urging consumers to be requiring in terms of asking for their preferences. Not just has this made the service rare, it has boosted the expense of entrance for niche players since FG's diversification and also versatility can not be matched by new entrants in the short run. This highlights one more factor of inimitability.

The fact that business is not product-orientated but is a market-orientated business which is adaptable enough in its capability to adjust to dynamic market circumstances suggests that its means of arranging solutions is absolutely its one-upmanship. Along with this, business is organized so that it has much less dependence on importers as well as trading firms which contributes to its competitive edge as an organization in a market where smoked fish products have to be imported from various other countries.

Along with these factors, FG's long term connections with its customer that has led to brand commitment from their side as well as the former's consistent support of quality control to keep this brandloyalty is an additional aspect offering it an one-upmanship.

As per the The Gold Story VIRO framework, if a company's resources are useful but can be mimicked conveniently, it might have a momentary competitive benefit. In FG's case, it can be seen exactly how a sustained competitive benefit is feasible through the company's flexibility, market-orientated approach, suffered long-termrelationships as well as cutting-edge skills of the entrepreneur.