Sustainable Competitive Advantage in Agricultural Sector by Using VRIO Framework
DOI:
https://doi.org/10.14456/psruhss.2022.31Keywords:
Sustainable, Competitive advantage, VRIO FrameworkAbstract
In Thailand, agricultural production is one of the activities where various factors are involved. These include weather, environment, farmland, and pricing. In addition, some agricultural products have a short shelf life, thus requiring rapid distribution to prevent spoil. Agricultural products also face high competition, and oversupply occurs some production cycles, causing even more competition. With various factors combined with the uncertainty, the competitiveness has been decreased. Thus, this article discusses an approach enabling an increase in competitiveness and competitive advantage using the VRIO framework with resource-based view theory. This framework focuses on rare resources to added value for consumer and those that are difficult to imitate in competitive market, from which an organization can use to create a sustainable competitive advantage.
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