The Resources of the Firm
These resources may be divided by 3 categories
Tangible resources include land, buildings, plant and machinery. Example, Toyota’s Tangible resources
It is not different from other companies, such as
Financial: the ability to raise funds, a loan and issue stock to raise capital. Technological: patents, trademarks and copyright and trade secrets, etc. Physical: such as buildings, machinery, plant, equipment, research and development as well as all raw materials used in car production. 2.
Intangible resources are including the trust of customers, relationships between organizations and their customers, brand reputation, technology patents, etc. Example, Toyota’s Intangible resources
Reputation: the reputation and credibility of Toyota brand and the quality of the product including the relationship between Toyota and customers and suppliers. Innovation: Toyota's research and development with regard to the organization of learning opens the idea of thought makes Toyota is the leader in the development of manufacturing technology in automotive engines. For example, Toyota Production System-TPS which is a system that attempts to eliminate waste to reduce production costs and increase yield. Toyota tries to use intangible resources with difficult for competitors to be imitators and it has the ability to use the capability to achieve the goal. 3.
Human resources comprise of skills and knowledge, to build the capacity of its outstanding resources to both special and valuable and increasing efficiency and effectiveness in the organizations. Example, Toyota’s Human resources
Everyone is expertise with technology including Toyota Way and the cultural heritage of Toyota. The process to deliver value to customers start from human resources in the organization who understand the local market in that country very well use its knowledge and continuous improvement (Kaizen concept), which is one of the Toyota production system and also create...
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