23A- Your Venture's Unfair Advantage

 Resources

1.     Effective communication skills

·      V- will allow me to communicate our company goals to my employees

·      R- not very rare

·      I- fairly high among the business community

·      N-  non-substitutable

2.     Leadership skills

·      V- important to allow me to drive my business forward

·      R- not very rare

·      I- very inimitable among many executives

·      N- a little substitutable as you can always hire other people to carry the business in the future

3.     Relationship with insurance companies to offer lower rates

·      V- this is valuable as lower rates are an incentive to use my service

·      R- pretty rare

·      I- not easily inimitable but can be done

·      N- cannot be substituted

4.     Unmatched convenience

·      V- very valuable, convenience is a luxury that many people want

·      R- moderately rare, not many services make this a priority

·      I- can be inimitable if you choose to focus on it

·      N- cannot be substituted

5.     Efficient, in-depth, employee training program

·      V- important to ensure my service runs smoothly and all employees know how to operate it efficiently and effectively

·      R- decently rare, some companies focus on training their employees in-depth

·      I- high, is inimitable

·      N- cannot be substituted

6.     Customer service experience

·      V- high value, important to know what your customers want and how to serve them

·      R- not very rare as many people have prior experience in this area

·      I- low, requires proper experience

·      N- substitutable, can hire a customer service department that can then teach me how to correctly deal with the customers

7.     App where customer can request service and access information about their cars’ repairs

·      V- provides a convenience to customers

·      R- pretty rare in this service industry

·      I- not difficult to replicate as apps are popular

·      N- we could use other ways to communicate to customers like websites, email, or calling

8.     Cars being essential to people’s daily lives

·      V- high value, makes my service important to people

·      R- not rare, cars are a necessity which could make my service a necessity as well

·      I- not inimitable

·      N- no substitutions besides public transportation

9.     My uncle’s extensive knowledge of running his own service business

·      V- high value, he can help me and the knowledge I’ve already learned from him will help as well

·      R- very rare, not everyone has someone close who knows how to run a high-profit business on their own

·      I- low, cannot be learned by everyone, not everyone has access

·      N- non-substitutable

10.  Customer loyalty

·      V- extremely valuable, our customers will be satisfied with my service on the first use and continue to come back

·      R- this is rare, customer loyalty can carry a business

·      I- inimitable

·      N- impossible to substitute for anything else

Top Resource

I think out of all my resources, the one that has the most value to my service, ARCS, would be the efficient, in-depth, employee training program I am going to implement. This will be essential to ensure my service is run like a well-oiled machine and all my employees in their different departments will operate as one, giving us a competitive edge.