Business Strategy: Resources And Corporate Strategy Essay

Question:

Discuss about the Business Strategy for Resources and Corporate Strategy

Answer:

Introduction:

The three tangible assets for Wells Fargo Bank are stocks, distribution channels, loan, and advances. The three intangible assets are goodwill, copyrights and brand name of the firm within the concerned market segments (Montgomery, 2005). Moreover, three capabilities of Wells Fargo Bank the firm are supply chain management system, marketing and product and finances flow.

Three of the above resources play the major role in enhancing the growth of any of the concerned firm, but intangible resources contribute more towards the enhancement of the firm. Therefore, intangible resources like the good will, reputation and the brand name of the firm creates an enormous impact on the clients and increases the profitability of the firm. Moreover, in making the good will of the firm it is evident to assist the clients with the best quality of the services as this will help in providing satisfaction to the customers (Hitt, Ireland, & Hoskisson, 2015). The brand name is created by delivering the best quality of the products and services for a longer period of time and therefore, the intangible assets may be taken as the most crucial resources needed for the development of the firm.

Each and every resource listed above are of great importance, but considering a few of the capabilities could be treated as least important such as the marketing and promotion of the firm. If a company has the brand reputation, there is no need of doing an effective promotion as the reputation of the firm will automatically attract the customers within the firm (Montgomery, 2005). Therefore, this may be regarded as the least important for the development of the business process of any of the concerned firm.

References

Hitt, M., Ireland, R., & Hoskisson, R. (2015). Strategic management. Stamford, CT: Cengage Learning.

Montgomery, C. (2005). Resources and Corporate Strategy. United States: Harvard Business School Faculty Seminar Series. Retrieved from EBSCOhost.

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