environment and a changing portfolio of companies. The pertinent areas Murdoch has always considered include the threat of intensifying competition and globalisation, the evolution of new technologies, the power of information, and the potential for new alliances. Superseding these concerns is the critical question for strategy; evaluating what resources and capabilities provide the most promising basis for exploitation or development. Markides (2000) dictates that the companys initial resource endowments and core competencies should constitute the focus for strategy, and therefore guide the search for new combinations of activities. Resources. In order to sustain a competitive advantage, valuable firm resources and capabilities are those which cannot be imitated by others in a competitive market, or substituted by some other asset that can be purchased competitively. The firm specific assets of News Corp. include its brand name, reputation, and identity, which have been described as distinctive compelling uniquea risk taker (Gunther, 1998). The following resources are also essential to the creation of a competitive advantage that supports News Corp.s growth strategy. Knowledge of how to operate a multinational company; of overseas markets; and of competitors; decisive leadership; and News Corp.s unique culture. These resources are invaluable to Murdoch and help position his company as a market leader. Capabilities. It can be contended that Murdoch himself is a capability for News Corp. When evaluating what truly differentiates News Corp. from it rivals, consensus amongst observers and competitors is that the risk taking nature of Murdoch is a valuable asset that other companies cannot emulate. His relentless determination and daring, his quest to defy convention and break the rules of the establishment, give his company opportunities that others would readily overlook or disregard. Furthermore, Murdochs great business skill and guile...
