Chapter 3The internal environment: Resources, capabilities and core competenciesCopyright ? 2011 Cengage Learning Pty LimitedKnowledge objectives1 explain the need for firms to study and understand the internal environment2 define value and discuss its importance3 describe the differences between tangible and intangible resources4 define capabilities and discuss how they are developedCopyright ? 2011 Cengage Learning Pty LimitedKnowledge objectives5 describe four criteria used to determine whether resources and capabilities are core competencies 6 explain how value chain analysis is used to id
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