Question 1 with answer: A good place to start with an internal firm analysis is to catalog the assets a firm has. List the firm's tangible assets. Then make a separate list of its intangible assets.

 

Answer (add more if you can): Intangible assets primarily consist of non-compete agreements, trademarks, trade names, customer lists, customer relationships, and intellectual property, and impairment losses are only recorded if the asset's carrying amount is not recoverable through [their] undiscounted, probability-weighted future cash flows. (Form 10-K) Tangible Assets according to Covetrus's  include: Cash, cash equivalents, accounts receivable, inventories, prepaid expenses, and assets held for sale. (Form 10-K)

 

Question 2 (needing help/ Answered): Now extend beyond the asset base and use the VRIO framework to identify the competitive position held by your firm. Which, if any, of these resources are helpful in sustaining the firm's competitive advantage?

Tangible Assets - quantifiable physical assets owned by the company, this include:

cash, stocks, inventory, short term investments and equipment

Intangible Assets - these lack a physical form and consist of:

goodwill, brand, patents and business methodologies

Question Two:

VRIO framework is a model consisting of four components used to show a company's strategic competitive advantage in the industry it operates in. these consist of value, rare, imitability and organization. In the case of Covetrus its VRIO frame work consist of:

Value - This is seen as a resource that creates and increases value for clients. Covetrus offers a wide range of products and service to veterinarians from training, lab services and even equipment leasing and maintenance.

Rarity - scarce and hard to find resources are said to be rare, Covetrus is able to create a suit of services and products to specific client needs, from prescription management to supply chain maintenance. They even offer eVetPractise a management software that's cloud based allowing clients to access their veterinary management system from virtually anywhere.

Imitability - this is offering clients services that are not easily replicated cheaply. Covetrus due to its size is able to provide service across the globe and tailor them to each unique regions specific needs. This can include online training in surgical techniques to financial services covering credit card processing to equipment leasing.

Organization - having internal structures, capabilities and management systems that utilize resources to compete efficiently. Covetrus has a global workforce of over 5,000 employees that make it possible to offer clients products and services, and link all these together in a single platform.