As we have grown Christopherson Business Travel from a $1 million company to a more than $300 million company over the last 21 years we have maintained a tight focus on creating a unique competitive advantage. We have worked hard to develop services, tools, and products that give us an edge in the business travel management marketplace.
The “VRIO” framework is a great tool that can be used to evaluate and maintain a company’s competitive advantage. VRIO is an acronym for a four question analysis every business should conduct before investing in any service, tool, or capability to determine its competitive potential.
- The Question of Value: Will this technology/service/strategy add value for your clients?
- The Question of Rarity: Is the capability or technology in the hands of a relative few?
- The Question of Imitability: Is it difficult to imitate and will there be significant cost to a firm trying to duplicate the capability?
- The Question of Organization: Are you organized, and ready to exploit the capability?
As Christopherson continues to grow, we will continue to ask these very important questions before we invest in the next service, tool or capability. Stay tuned for some exciting new tools and technologies that we will be releasing soon.