Tires: The Most Important Resources Essay

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To identify the key resources that distinguish Tyres from the competition, I would begin with determining what the company requires to create products for its customers. According to Khan et al. (2019), key resources are one of the essential components of the Business Model Canvas that can include assets, personnel, equipment, raw materials, knowledge, or brand. Therefore, I would discuss with the team what the firm needs to run the business successfully. In particular, key resources for Tyres are human resources, physical assets, as well as an established brand. Then, I would evaluate the value proposition offered to the customers. In this regard, considering the opinion of the salespeople would be beneficial as they know clients’ needs well. Finally, I would analyze rival companies to understand what distinguishes Tyres from their key resources. This strategy would help me ensure that my assessment of the firm’s main assets is correct.

Any company that has a certain competitive advantage strives to make it sustainable. A sustainable competitive advantage is a long-term benefit due to the implementation of a certain unique strategy aimed at creating value (Khan et al., 2019). In this regard, an important condition is that a similar approach should not be used by existing or potential rivals (Khan et al., 2019). For Tyres, its human resources represent a sustainable competitive advantage because skilled staff ensures efficient operations and enables continuous improvement of processes. Furthermore, the company’s brand is another asset that cannot be replicated as it is associated with Tyres’ unique products. Overall, by implementing its employees’ talent and skills, the company provides value for clients that distinguishes it from other players in the market.

Reference

Khan, S. Z., Yang, Q., & Waheed, A. (2019). Investment in intangible resources and capabilities spurs sustainable competitive advantage and firm performance. Corporate Social Responsibility and Environmental Management, 26(2), 285-295.

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IvyPanda. (2023, August 25). Tires: The Most Important Resources. https://ivypanda.com/essays/tires-the-most-important-resources/

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IvyPanda. "Tires: The Most Important Resources." August 25, 2023. https://ivypanda.com/essays/tires-the-most-important-resources/.

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