VRIO-analysis as a tool for assessing strategic change opportunities

Pryymak, Natalia and Приймак, Наталія Сергіївна and Приймак, Наталия Сергеевна and Ivanova, Natalia and Іванова, Наталя Сергіївна and Иванова, Наталья Сергеевна and Malovychko, Svitlana and Маловичко, Світлана Вікторівна and Маловичко, Светлана Викторовна (2020) VRIO-analysis as a tool for assessing strategic change opportunities. Торгівля і ринок України (2 (48)). pp. 69-76. ISSN 2079-4762

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Abstract

The study indicates that VRIO analysis is a theoretical and practical model designed to assess the unique resources, abilities and key competencies that can provide the enterprise with a competitive advantage in the market. The purpose of the VRIO analysis is to provide the strategic change management system with complete and reliable information about the local components of the strategic opportunities for changes accumulated by the external environment and their level of competitiveness in the target market (in the focus group of enterprises). Clarification of the essence of the changes and determination of their place and role in the system of strategic management of the enterprise. According to the author's methodology, the use of VRIO analysis to assess the strategic possibilities of change implies the implementation of two blocks of management actions: preparatory and effective. The results of the strategic resources evaluation using the VRIO analysis for PrAT "CGZK" make it possible to determine that the plant should implement an active strategy for realizing the strategic opportunities for change, the basic elements of which should be: quality iron ore products, financial resources, opportunities to change the technological base and use intangible resources available to the strategic change management system. The change strategy recommended by PrAT "CGZK" should be based on production and financial functional strategies, the results of which should ensure increase of efficiency of personnel strategy and maximization of efficiency of realization of assets of the plant

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