Procurement Is An Integral Part Of Resource Based View Of An Organization

5496 words - 22 pages

Procurement
  is
  An
  Integral
  Part
  of
  Resource-­ Based
 View
 of
 An
 Organization
 

 
 


 
 
  Phuong
 Duong
 

University
 College
 Dublin
 (12251697)
  4112
 words
 
 
  ABSTRACT
 
  Procurement
  has
  become
  an
  increasingly
  widespread
  practice
  among
  organizations
  and
  is
  today
  of
  strategic
  importance
  that
  attract
  great
  interest
  from
  scholars
  in
  the
  literature.
  The
  primary
  purpose
  of
  the
  paper
  is
  to
  contribute
  with
  a
  ...view middle of the document...

 
 
 
  1.
 Procurement
 and
 the
 propensity
 to
 procure
 in
 modern
 business
 context
 
 
  Procurement,
  or
  in
  other
  words,
  “sourcing”,
  for
  years
  has
  become
  “a
  financial
  material,
  but
  strategically
  peripheral,
  corporate
  function”
  of
  an
  organization
  (Gottfredson
  et
  al.,
  2005).
  In
  the
  literature,
  procurement
  becomes
  a
  key
  component
  and
  is
  of
  major
  strategic
  importance
  to
  many
  organizations
  (Humphreys
  et
  al.,
  1998,
  Paulraj
  et
  al.,
  2006).
  Recent
  decades
  have
  witnessed
  significant
 changes
 in
 macro-­‐economic
 trends
 that
 direct
 business
 environment.
  These
  changes
  have
  been
  driven
  by
  increased
  globalization,
  technology
  innovation,
  changing
  consumer
  behaviours,
  and
  consequently,
  a
  shift
  toward
  procurement
  and
  outsourcing
  (Giunipero
  et
  al.,
  2005,
  Giunipero
  et
  al.,
  2006,
  Zheng
  et
  al.,
  2007).
  Gottfredson
  et
  al.
  (2005)
  argued
  that
  globalization,
  accompanied
  by
  technological
  advances,
  is
  causing
  the
  core
  of
  competition
  to
  change.
  These
  days,
  the
  ownership
  of
  capabilities
  of
  an
  organization
  is
  not
  as
  important
  as
  its
  ability
  to
  govern
  and
  take
  advantage
  of
  critical
  capabilities,
  whether
 or
 not
 they
 are
 the
 organization’s
 assets.
 Procurement
 is
 developing
 so
  sophisticatedly
  that
  even
  core
  functions
  such
  as
  engineering,
  R&D,
 

manufacturing
  and
  marketing
  can
  be
  outsourced.
  That,
  according
  to
  Gottfredson
  et
  al.
  (2005),
  in
  turn,
  is
  changing
  the
  way
  the
  firms
  think
  about
  their
  organizations,
  their
  core
  values
  and
  their
  competitive
  abilities.
  The
  author
  also
  revealed
  that
  an
  emphasis
  on
  capability
  sourcing
  could
  result
  in
  an
  organization’s
  better
  strategic
  position
  by
  reducing
  costs,
  streamlining
  the
  company,
  and
  enhancing
  quality.
  Critical
  functions
  provided
  by
  more
  qualified
  partners
 usually
 allow
 organizations
 to
 improve
 their
 core
 capabilities
 that
 help
  them
 take
...

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