New Look’s Resource Base Tangible and Intangible Resources A firm’s resources are the tangible and intangible assets and capabilities that give it a competitive advantage in its industry. According to the resource-based view, resources are sources of value and competitive advantage for a firm (Delaney 2013). Tangible resources include assets like workforce, capital equipment, and finances, among others. On the other hand, intangible resources include proprietary skills, patents, reputation, and customer base. ‘New Look’, a leading fashion UK retailer, derives its competitive advantage from its tangible and intangible resources. Its tangible resources include:   * About 1,160 retail stores globally distributed in 25 countries (Anz Insights 2012)   * A broad range of apparel brands for women and men   * A workforce of 30,000 employees with 17,000 of them working in UK stores (Singleton 1997)   * An extensive supply chain consisting of over 330 suppliers drawn from different regions, including Asia   * Financial resources (operating income of £180 million) The brand’s intangible resources include:   * Brand equity (Brand revenue of £1,396 million in 2014) (New Look 2014)   * E-commerce channels (newlook.com serves 120 economies globally)   * Goodwill/reputation earned through its CSR programs and Environmental policy   * International sales (25% growth in FY09)   * Advertising campaigns using online channels and celebrities   * Accolades for being the best retailer, e.g., the Drapers Award of 2009 Overall Business Network Business networks can be cooperative or competitive. New Look’s horizontal networks bring together different firms, suppliers, buyers, government entities, and distributors who share common goals. Business networks may involve alliances between business enterprises or non-business entities that pursue common goals (Abecassis 2006). New Look operates in a B2B business environment where it forms horizontal networks with its direct competitors, such as ‘Next’ plc and Mark & Spencer (Datamonitor 2009). Its networks also include non-governmental organisations and government agencies. New Look also forms alliances with Not-for-Profit organisations, such as the Ethical Trading Unions that brings together a number of firms and NGOs to advocate for employee welfare in the UK (Hakansson & Snehota 1995). The firm also forms policy networks with international bodies, such as the WIEGO, an organisation that seeks to empower the world’s poor (New Look 2012). These forms of networking are more cooperative than competitive, allowing New Look to improve its visibility in the market. New Look also forms vertical relationships with suppliers in the different countries it operates in. In the upstream, the company has 339 suppliers located in over 90 nations globally (New Look 2012). Most of its suppliers come from Turkey, China, and Bangladesh. The firm requires its suppliers to practice ethical standards in their manufacturing processes. Suppliers have to consent to the firm’s ethical goals before gaining the approval to work with New Look. Distributors also form part of the company’s upstream vertical relationship. New Look has three distribution centres