Business Management Analysis 2022

Business Management

Table of Contents
Introduction.................................................................................................................................................2
Main body...................................................................................................................................................2
Strategic Resources responsible for Howard business success................................................................2
Example of how this strategic resource creates value for Howard bank..................................................2
Application of VRIO test to strategic resource........................................................................................3
One way by which Howard bank could leverage this resource for creating another resource..................3
Conclusion...................................................................................................................................................4
References...................................................................................................................................................5
1 | P a g e

Introduction
The strategic resources are key resources of an organization that help in gaining competitive
advantages. These organizational resources are valuable, rare, inimitable and non-substitutable.
These strategic resources support the firms in creating effective strategies to capitalize on the
opportunities and defend against the threats. The competitors cannot imitate these resources
easily; hence the strategic resources are a sustainable competitive advantage to the respective
firms. The undertaken firm Howard Bank has also a number of strategic resources, which
support gaining competitive advantages (Duff, 2018).
Main body
Strategic Resources responsible for Howard business success
The success of Howard bank is reliant upon its technology. With the help of technology, they
easily manage to tackle the issues related to technology. Moreover, they offer their customers
with online activities such as mobile banking and relatable solutions. This helps its customers to
overcome any sort of money issue. Howard Bank is also flourishing with well-experienced
leadership. Without them, they are unable to carry out their business activities (Howardbank,
2018). Their leadership includes branch managers, relationship officers, executive officers, and
private bankers. Howard bank is blessed to have a strong workforce. The employees deliver
excellent services to their customers. they also provide services to other business owners for
tackling the financial essentialities.
2 | P a g e