HOW TO GO ABOUT IT

To identify opportunities for innovation in the key resources block ask questions such as:

• Do the key resources the company possess o er a competitive advantage? For example, a workforce that is skilled at tuna loining would provide the Tasty Tuna Company with the advantage of reduced time and fish loss in the loining process.
• If the workforce is a key resource, are equal opportunities available for both women and men? For example, many of the production workforce at the Tasty Tuna Company are women but do they have the opportunity to rise through the company to a position on the Senior Management Team?
• How can the resources be exploited more effectively to enhance the competitive advantage? For example, a key resource of the Tasty Tuna Company is the tuna processing factory and equipment (retort ovens, filling and canning lines, quality control lab etc.) but perhaps it is only operational for 12 hours per day and 5 days
  per week. What could be done to increase the utilisation of this expensive equipment towards a full 24 hours per day and 7 days per week?
• Is there a risk that the key resource may not be available in the future? For example, the Tasty Tuna Company is extremely dependent on a supply of fresh tuna as a key resource. This supply is under threat due to overfishing.
• How can this risk be reduced or mitigated? One way to mitigate this risk would be to lobby the local government to create and enforce fishing quotas. This would o er an environmental benefit by protecting the fish stocks, whilst also providing a more secure future for the company and the local fishermen.