Resources and Capabilities for Competitive Advantage in Pfizer

Strategy, Enterprises and
Innovation

Contents
INTRODUCTION...........................................................................................................................1
TASK 2............................................................................................................................................1
Critical evaluation of resources and capabilities that provides competitive advantage in market
......................................................................................................................................................1
TASK 3............................................................................................................................................3
Identification of key changes in external environment and its impact on entrepreneurial
activities.......................................................................................................................................3
TASK 4 ...........................................................................................................................................5
Using Porter's Five Forces framework and evaluate the impact of the main competitive forces
which are influencing entrepreneurial activities and profitability with in the industry ..............5
CONCLUSION ..............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Replacing and improving organisation processes to enhance productivity and efficiency
as well as to enable the company to extent the quality and range of current product and services.
Creating and developing new or exiting product and services in order to meet dynamic customer
trend, demands and expectation. Innovation is creating by making effective strategy and
executing it in most effective manner is termed as strategic innovation. It refers to a process of
redesigning and reinventing the business strategy to achieve growth, create value for the business
and its customer as well as generate competitive advantage. To define this concept the selected
company is Pfizer which was established in 1952 in UK. The company provides healthcare
services, developing solution and medicines to improve the condition of people as well as it also
working for NHS (Amara, Hong and Hafeez, 2019).
This report cover critically analyse the internal resources and capabilities which provide a
competitive advantage to the company. Further, it highlights the key drivers of change in the
external environment and their impact on the entrepreneurial activities of the company. At last, it
defines the Porter's five forces framework which has great impact on the profitability and
operations of organisation.
TASK 2
Critical evaluation of resources and capabilities that provides competitive advantage in market
VRIO Analysis
VRIO analysis can be described as a strategic framework which help organisation in
identifying various advantages and resources in order to secure a competitive edge. It helps an
organisation in ascertaining the competitive advantage of an organisation. It is beneficial for
managers of Pfizer to make a systematic evaluation of varied tangible as well as intangible
resources streamlining with its value chain (Cao and Chen, 2019). It also help in streamlining
and determining organisation which resources or capabilities it want to keep, delete or enhance.
All the elements in accordance with VRIO analysis are discussed below:
Resources and
Capabilities
Valuable Rare Inimitable Organised Competitive
implication
1