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The Resource-Based View

In: Understanding Business Strategy

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  • Lourdesamy Iruthayasamy

Abstract

The Resource-Based View (RBV) as a major alternative to the I/O model in business strategy is the focus of this chapter. The question whether industry or firm resources matter in formulating strategy is the key issue in the discussions. Firm resources in their complexity are identified and explained in terms of their contribution to strategy formulation. Included is the concept of sustainable competitive advantage and the unique resources a firm must possess (VRIO) in order to have sustainable competitive advantage. The concept of ‘core competence’ within the RBV model is discussed. A variance—organisational capabilities—is also taken up. Prahalad and Hamel conceive a corporation as a collection of unique competencies, not products or business units. Competitive advantage is to be achieved based on their core competence. This notion is clearly different from Porter’s industry analysis in strategy formulation. Does this mean RBV constitutes a new theory of strategy? This question guides the discussions in this chapter.

Suggested Citation

  • Lourdesamy Iruthayasamy, 2021. "The Resource-Based View," Springer Books, in: Understanding Business Strategy, chapter 0, pages 63-74, Springer.
    • Handle: RePEc:spr:sprchp:978-981-33-6542-1_4
    DOI: 10.1007/978-981-33-6542-1_4
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