6. What are the principles of agile methods? 27. What are the Components of a Strong Value Proposition?

Valuable. A resource is valuable if it can be used, for example, to increase market share, achieve a cost advantage or charge a premium price. This question has to be answered first because a resource that is not valuable or is irrelevant cannot be a source of competitive advantage.

Rare. Rarity is important because if competitors possess the same resources, there is no inherent advantage in the resource. Of course, different businesses can configure the same resources differently to achieve competitive advantage, but this is not the focus of the resource-based view of the firm. If a valuable resource is not available to all competitors it is “rare” and therefore a potential source of competitive advantage.

Imitable. It must be difficult or expensive for competitors to imitate or acquire the resource. This can apply to patents and copyright, but also to other forms of resources, such as brand perception. Although it is possible to change a brand and the perception of it, rebranding is expensive. If a resource is easy to imitate it confers only a temporary competitive advantage, not a sustainable one.

Organisation. A business must be capable of taking advantage of the resource. If a resource is valuable, rare and difficult to imitate, a business must be able to exploit it, otherwise it is of little use. This may require reorganising the business

• 
  is the product, service or business unit/activity profitable? (Value)
  
• 
  How common is it? (Rare)
  
• 
  Can it be easily copied? (Imitability)
  
• 
  Is your business currently squeezing the full economic potential of the resource? (Organised)l
  

The advantages

This model is very easy and effective to use, and – when you carry it out well – it can help to boost your competitive position. VRIO is also a great model for internal analysis and it’s comprehensive too – without being complicated. Just remember to do it regularly as things change in your business and the external landscape. Remember too that it is a subjective model and should be used within a broader strategic framework, as one of your assessment tools, with the appropriate ongoing measurement framework in place.
39.What should a startup business plan include?

• 
  The business model is the key focus of your business plan. It describes the nature of and what is unique about your business, and how you intend to grow it. A good business model illustrates the approach to four different aspects of the business i.e. revenue, profits, market share, and growth.
  
• 
  Market share is the percent of total sales in an industry generated by a given company or product.
  
• 
  Why do investors look at a company's Market Share?
  
• 
  If the total market for a product or service grows, and a company maintains its market share, it means it is growing revenues at the same rate as the total market
  

Market share is complementary with a company growing or shrinking. When the market share of a company increases or decreases, it gives analysts information on how competitive that company’s goods or services are at that particular time.
Revenue refers to the total earnings a company generates through its core operations like sales of products or services, rents on a property, recurring payments, interest on borrowings, etc. Revenue calculations come before removing any expenses, such as discounts and returns.
What does profit mean in business?
Profit is the money you have left after paying for business expenses. There are three main types of profit: gross profit, operating and net profit. Gross profit is biggest. It shows what money was left after paying for the goods and services sold.
Why is profit important to a business?
Profit equals a company's revenues minus expenses. Earning a profit is important to a business because profitability impacts whether a company can secure financing from a bank, attract investors to fund its operations and grow its business. Companies cannot remain in business without turning a profit.
Why is growth important in business?
Growth is crucial to the long-term survival of a business. It helps to acquire assets, attract new talent and fund investments. It also drives business performance and profit.
What is good business growth?
Once businesses experience more than 15% growth per year, they're usually considered to be experiencing rapid growth and may need to start investing more money to keep pace with the expansion

40.What is Kanban in project management?