Zookeepers & Ballerinas Welcome. How are you unique or diversified; What set you apart? How might this be valued by a school, employer, or other people? How could you build on this to get into a top B-school or career?. Internal Scanning: Organizational Analysis. (Rents & Resources).
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Zookeepers & Ballerinas Welcome • How are you unique or diversified; What set you apart? • How might this be valued by a school, employer, or other people? • How could you build on this to get into a top B-school or career?
Internal Scanning: Organizational Analysis (Rents & Resources)
Chapter 4 Internal Environment Resources, Capabilities and Core Competencies Chapter 3 What the Firm (or you) Might Do External Environment Five Forces Analysis Sustainable Competitive Advantage S.W.O.T. What the Firm (or you) Can Do
Money Plant Equipment Building Land People (Intellectual Capital, Experience, Loyalty) Technology (Patents, Know-how) Reputation (Customer Loyalty and Brands) Other (Suppliers and Connections, ?) Make list of your tangible and intangible resources. “Some genius invented the Oreo. We’re just living off the inheritance.” Resource Assets What you have to workWith... Tangible Intangible
Capabilities What a firm Does... Combining resources to achieve desired objective. • Car+ability to drivetransportation • Parking lot+creativityCalif. Adventure
Core (Distinctive) CompetenciesCapabilities w/strategic value (VRIO) • Valuable - Desired by customers • Rare - Possessed by few others • Inimitatable - Not easy to copy • Organization Fit - Fits with culture, HR, laws, etc • Honda (MPG innovations) • Pepsi (distribution) • Disney (creative entertainment)
Resource(Distinctive Competency)Profitability • Scarce (supply) + Valuable (demand) Resources Economic Rents • ER= above normal profit • “Nilla” vs. Albertson’s brand wafers $3.99 vs. $1.99
Recardian rents (David, 1772-1823)Land Distribution Theory • Unique location, first-mover, reputation • Coke, Disney, Nilla • These are long-lived • Slow-Cycle Resources
Schumpeterian rent(Joseph, 1883-1953)“Creative Destruction” • Life Cycle of Innovation (iPod) • Invention • Innovation • Diffusion • Fast-Cycle Resources
Conclusion • Know what you have • Find how to combine them • Understand your time horizon
Interviewing Overview • Preparing for Interview • Learning about interviewers • Pre-interview Preparations • The Actual Interview • Marketing yourself • Follow up
Preparing for the Interview • Where to interview • Start with least favorite place • Informational Interviewing • Research the organization • Know history, facts and figures, key people • Get prepared • Clothes (purchase, iron, shine, cut hair) • Resume (transcript, business cards, folder,) • Dry Run (practice and drive by the day before)
Learning about Interviewers • 4 Interviewer Types • The talker • The know-it-all • The nervous wreck • The professional interviewer • Goal: Make the interviewer feel good about the interview
Pre-Interview Preparations • Dress conservatively – no piercing • No cologne, food, gum, smoking, bad breath • Come by yourself • Arrive Early • Be Nice to Everyone
Interview Etiquette • Make Eye-contact • Firm Handshake with Right Hand • Ask and use their name • Respect before comfort • Take notes
10 Common Interview Questions • Tell me about yourself. • Why should we hire you? • What are your major strengths? • What are your major weaknesses? • What sort of pay do you expect to receive? • How does your previous experience relate to our position/organization? • What are your plans for the future? (5 years) • What will your former employers/references say about you? • Why are you looking for this position/organization? • Why don’t you tell me about your personal situation?
Follow-Up • Review or take notes • Send thank-you card (immediately) • Follow up • Anything you said • Make appointment to call • Reflect, Reward and Relax