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Question
Sources for Competitive Advantage (100 words)
Identify and discuss the key sources of Proximie’s competitive advantage. Explain how Proximie leverages these advantages to maintain a strong position in the industry
Solution
Sources for Competitive Advantage
The VRIO framework is a tool utilised to examine a firm’s internal resources and skills to determine their potential as a source of sustainable competitive advantage (Jurevicius & Gasparik, 2023). After conducting a VRIO analysis (See figure 3), it is evidenced that Proximie’s competitive advantage is in its innovative XR technology, its device neutral platform and its strong network of strategic partners.
| VRIO Component | Description |
| Value | The XR technology developed by Proximie extends real time connectivity and knowledge sharing across institutions and geographies to improve surgical quality of care and to standardise care across diverse healthcare environments.
Potential advantages lie in its real-time remote presence capability, which further improves surgical efficiency. |
| Rarity | The healthcare technology market is rare with the ability to provide real time remote presence in operating rooms. Proximie’s unique market position is further enhanced through industry leading partnerships with Teladoc and Vodafone. |
| Imitability | Proximie’s device neutral platform combined with its strategic partnership make the replication of its technology challenging.
Competitors have to deal with the established infrastructure for data analytics and surgical data capture, which is a complex process. |
| Organisation | Its internal structure and strong partnerships position Proximie well for the effective deployment of its technology.
Through this positioning, Proximie is able to respond quickly to market changes and to continuously innovate. |
Figure 1: VRIO Analysis for Proximie
Source: (Jurevicius & Gasparik, 2023)
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