Utilization of Internal Analysis with the VRIO Framework and Development of Scale for Resource and Capabilities of Fashion and Design Organization

Agnes Odamea Larbi, Gladys Afumwaa Asare-Danquah and Angela Akua Fosuah Ackah
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Agnes Odamea Larbi: Department of Fashion and Design, BlueCrest College, Accra, Ghana.
Gladys Afumwaa Asare-Danquah: Department of Marketing, University of Professional Studies, Accra, Ghana
Angela Akua Fosuah Ackah: Department of Fashion and Design, BlueCrest College, Accra, Ghana.

International Journal of Research and Scientific Innovation, 2024, vol. 11, issue 6, 63-70

Abstract: In this ever-changing world where things are not easily stable for a long time finding the source of competitive advantage has become an essential area in the research of strategic management especially in fashion and design organization. The VRIO framework is one of the methods frequently used in conducting internal analysis to find out the competitive advantage. However, this framework comes with its weaknesses such as its inability to be used to determine how strong the competitive advantage of the company can be managed by them. VRIO framework means that the resources have the following characteristics: value, rarity, inimitability, and organization. If the resources are valuable they may provide competitive equality. If they are also rare, they may provide current competitive advantage. If they are hard to imitate, they may provide sustainable competitive advantage, but only within the context that supports their effective and efficient usage. For that reason, the objectives of this paper are to create assessment scales to determine how well the resources or capabilities has been managed by the company in a VRIO framework. To elaborate on the utilization of VRIO scale, a case study in a Fashion and Design University was used.

Date: 2024
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