23
·
Generate a list of all
of the resources in your venture (produce a list of at least 10 resources that
you already possess). This can include your human capital, social capital,
financial capital, and capabilities. You may also discuss the organizational culture
you intend to create (but, obviously, it's not a resource that you have,
now.)
·
Conduct a
"VRIN" analysis for each resource. That is, describe, for each
resource, how it is valuable, rare, inimitable (how hard it is to copy by
others), and non-substitutable (are there other resources that can provide the
same benefits?).
·
Remember, not ALL
resources will measure up well. That's OK. You just need
one.
·
After conducting the
VRIN analysis, determine what your top resource is. Explain why it's more
important to your venture than all of the other resources.
Resources:
1)
Cash Asset
Valuable? Yes
Rare? No
Imitable? Yes
Organization? Yes
2)
Truck Asset
Valuable? Yes
Rare? No
Imitable? Yes
Organization? No
3)
Friends who have knowledge of Puerto Rico and
its people to help
Valuable? Yes
Rare? No
Imitable? No
Organization? Yes
4)
Basic Spanish knowledge
Valuable? No
Rare? No
Imitable? Yes
Organization? Yes
5)
Good relations with past Spanish teachers
Valuable? Yes
Rare? No
Imitable? No
Organization? Yes
6)
Access to professors that are familiar with Hispanic
culture
Valuable? No
Rare? No
Imitable? Yes
Organization? Yes
7)
Access to Puerto Rico club at UF
Valuable? Yes
Rare? No
Imitable? No
Organization? Yes
8)
Creativity
Valuable? Yes
Rare? No
Imitable? No
Organization? Yes
9)
Drive
Valuable? Yes
Rare? No
Imitable? No
Organization? Yes
10)
Understanding of how to start organizations from
the ground up (created own club at UF)
Valuable? Yes
Rare? Yes
Imitable? No
Organization? Yes
According to VRIO analysis my understanding of how to start
organizations from the ground up is my most valuable resource. I have created a
club and am the Vice President of it. We grew from 3 members to around 20
active members in a semester. Currently we are working on international microeconomic
development. I think this is my most valuable resource because it is hard to
replicate this and it provides me with lots of lessons on how to start a new organization
and how to run an organization well. For example, it has taught me perseverance
when times are difficult. It has taught me to trust the process. And it has
also taught me that good things come with time and dedication.