This assessment will require to be answered with:
- Explain VRIO.
- Provide standards and management capability.
The term VRIO is defined as framework of business analysis that forms a strategic scheme of firm in a larger way (Daellenbach, 2015). It falls under internal analysis as it gives information about resources that are available and also various other information related to organisation. Thus, in this report, Virgin Atlantic has been taken into consideration which is the airline industry based in United Kingdom.
Define and Discuss
VRIO is initialism for the four question framework that has been asked about resource in order to determine competitive potential (Indartono and Wibowo, 2017). It is the question of value, the question of Rarity, the question of immitablity and about the question relating to organisation. It is further designed in order to help organisations in terms of protecting capabilities that gives a higher and longer term of competitive advantage. Here we are talking about Virgin Atlantic. It is a trading name of Virgin Atlantic Airways Limited and is a British Airline that is associated in Crawley, United Kingdo