Posted in Marketing and Strategy Terms, Total Reads: 7852
Definition: VRIN Barney
VRIN Barney which stands for “Valuable, Rare, Imperfectly Imitable and Non-substitutable covers identification of all the potential key resources. It helps to analyze whether these resources can fulfill VRIN criteria.
Its characteristics are as follow:
Valuable: It involves value creating strategies which can help one outperform its competitors or reduce its weakness by improving its effectiveness and increase in efficiencies.
Rare: It includes all resources which are rare and not be available to the competitor.
Imperfectly Imitable: It means that value of that particular resource would be governed by only one firm and others can’t duplicate the resource for its use.
Non-substitutable: It means that the resources can’t be substituted by any other available resources.