entrepreneurship and sustainability issues issn 2345-0282.pdfVIP

Centre for Entrepreneurship Research ENTREPRENEURSHIP AND SUSTAINABILITY ISSUES ISSN 2345-0282 (online) /jesi/aims-and-scope-of-research/ 2013 Volume 1(2): 67–80 /10.9770/jesi.2013.1.2(1) TOWARD UNDERSTANDING RESOURCES, COMPETENCIES, AND CAPABILITIES: BUSINESS MODEL GENERATION APPROACH Mike Wahl¹, Gunnar Prause² 1,2Tallinn School of Economics and Business Administration, Tallinn University of Technology Akadeemia tee 3-365, 12618 Tallinn, Estonia E-mails: ¹mike.wahl@ttu.ee; ²gunnar.prause@ttu.ee Received 5 September 2013; accepted 25 October 2013 Abstract. Understanding internal sources of competitive advantage has become a major area of research in strategic management. Resources are a business’s assets, capabilities are the ability to exploit its resources, and competency is a cross-functional integration and coordination of capabilities. But the problem of not understanding what is really meant by resources, competencies, and capabilities still arises. Toward understanding what is really meant, MEKTORY – business model generation competition case studies are analysed. The main purpose to develop a better understanding has reached. It can be stated that the overarching goal of strategic management and also business model generating is creating and capturing value for core stakeholders. Strategy is here defined as a series of goal-directed plans and activities that align a business’s structure, culture, and resources with the opportunities and threats i