Parts Frameworks
The I stands for this in VRIO
What is Imitability?
The year Global Thermostat was founded.
What is significant about 2006?
The name of the technology used by Global Thermostat
What is a monolith?
This advantage means Global Thermostat has the opportunity to establish itself as the leading brand in this field. This can help them attract customers and build a strong reputation.
What is Brand Awareness?
This type of innovation utilizes novel methods or materials serving new or establish markets
What is a radical innovation?
VRIO framework definition
What is the VRIO framework is an internal analysis that helps businesses identify the advantages and resources that give them a competitive edge.
This is estimated to be a $5 trillion a year business.
What is the energy industry?
The GT technology acts like this car part.
What is a catalytic converter?
Global Thermostat has the opportunity to learn from their mistakes thanks to this advantage
What is the Learning Curve?
This type of firm usually experiences incremental innovation as they have stronger positioning
What is an incumbent firm?
An advantage of VRIO framework
A: What is enables you to identify and prioritize your competitive edge. B: What is provides a great opportunity to conduct an internal virtual workshop. C: It can help prioritize the allocation of business resources to highlight your unique value.
(All of these)
This industry focuses on the production and supply of fossil fuels.
What is energy?
An advantage of this technology
What are lower costs, proven processes, higher purity of carbon dioxide gas, extraction at lower concentrations, or more flexibility in location?
This advantage can help Global Thermostat secure funding for research and development
What is Investment Opportunites?
Global Thermostat could also explore this radical innovation which involves mimicking the process by which plants convert carbon dioxide into oxygen and sugar using sunlight.
What is artificial photosynthesis?
Questions the ability of your competition to imitate your solution within their own business model.
What is Imitability?
This is the life cycle stage that Global Thermostat is in.
What is growth?
Where Global Thermostat’s technology captures carbon from.
What is the atmosphere?
Being a first mover means Global Thermostat can establish a strong market position, which also means there is less competition to drive innovation and improve the technology. (Advantage or disadvantage?)
What is a Disadvantage?
Global thermostat (GT) could have explore this radical innovation to determine ways to use carbon dioxide to create new products such as fuel or chemicals.
What is Carbon Utilization?
The acronym for VRIO and what they each stand for
What is value, rarity, imitability, and organization. Value relates to the specific needs that drive your product/service and the capabilities you provide. Rarity has to do with the availability of your resources and how accessible they are to your competition. Questions the ability of your competition to imitate your solution within their own business model. The organization portion is an internal analysis of how your business operates and is structured for success.
The development and commercialization of a unique technology for carbon capture.
What is Global Thermostat’s focus?
Captured carbon can be stored or used in one of these
What is geologically appropriate underground formations, incorporated into materials such as cement and plastic for various commercial applications, sold for carbon tax credit, or used to enhance the production of ethanol and other biofuels without competing with food production when fed to algae.
This disadvantage can limit revenue potential and make it more difficult to achieve economies of scale.
What is a Limited Market?
This incremental innovation idea for GT would include increasing the size of its carbon capture units, improving logistics, and streamlining its supply chain to reduce costs
What is Scaling Up?