Your Venture's Unfair Advantage

List of resources:

1)    Hard-working

2)    Diverse networking

3)    Proactivity

4)    Leadership

5)    Research potential

6)    Diligence

7)    Systems Thinking

8)    Punctuality

9)    Higher education

10) Greater investments

VRIN Analysis:

1)    Hard-working is valuable for any business to thrive. Not all employees can possess a hard-working attitude, hence it is rare. Hard-working is a trait that must come to a person; it cannot be copied. Hard-working is non-substitutable as other resources cannot provide the same benefits.

2)    Diverse networking is highly valuable as all businesses want a diverse work environment. It is fairly rare as some businesses are not diverse in their employees. It cannot be copied by other easily; the businesses must be willing to accept people from different backgrounds with no problem. It is non-substitutable as no other resource can replace it.

3)    Proactivity is very valuable as each business must think about now and the future and problems that might arise. It is very rare since many businesses do not make proactive approaches. It is hard to copy because workers must be committed to the businesses and always moving forward and very non-substitutable in terms of providing the most benefits compared to other resources.

4)    Leadership is valuable to all businesses and clears the path for success. It is not rare at all since all businesses have some form of leadership to operate. It is not hard to copy but had to implement and establish for some. Leadership provides benefits that other resources cannot.

5)    Research potential is valuable to the progression of a businesses and allows it to keep moving forward. It is rare as some businesses are unable to obtain research potential. It is very hard for the same reason why it is rare and non-substitutable as it provides benefits that other resources cannot.

6)    Diligence is valuable and provide a sense of motivation and accomplishment if highlighted by the employees. It is not rare but may be hard for some to adapt to their working style to stay on top of everything. It is fairly hard to copy because a person must put in their own time and dedication to be successful. Diligence is similar to hard-working and could provide the same benefits.

7)    Systems thinking is valuable to all businesses as it shows how systems work and break down elements. It is very rare as some businesses are unable to adapt this process. It is hard to copy because the business must be willing to implement a system that are able to work with and provide benefits that other resources cannot.

8)    Punctuality is valuable to all employees and businesses. A person must be on time in order to be successful and not fall behind. It is not that rare as it is an obligation required by all businesses to be punctual in terms of arrival and projects. It is not hard to copy but could be a challenge for those who have a busy schedule. It is non-substitutable since it provides a strict framework to be on time that other resources cannot.

9)    Higher education is valuable to everyone and everything. It can lead to further success and recognition in a business. It is not rare since most businesses require some form of higher education. It is not hard to copy as long as the work is fully completed, and the effort is put by the best of their ability. It is non-substitutable as higher education opens the door to a plethora of opportunities.

10) Greater investments can be a valuable asset to all businesses to increases their profits and future success. It is not rare since businesses have some form of investment that is made. It is not hard to copy because all businesses can have greater investments if more money is made and saved for future potential business opportunities. Greater investments provide businesses an avenue for greater success that other resources cannot.

After conducting the VRIN analysis, the top resource is leadership. If a business does not have a form of leadership, it is bound to be a failure and have no success. Leadership provides the foundation of a business being successful now and in the future. Strong leadership opens the door to so many opportunities and potential for the business. A leader helps to motivate workers to work their hardest and the best of their ability as well as playing a guiding role to those may need the help. Greater communication is another skill that leaders posess in order to successfully conduct business in a timely and uniform manner with low levels of stress and high levels of productivity and achievement