Resource Based view (RBV) and 13 Criticisms
•Download as PPTX, PDF•
2 likes•3,249 views
This document reviews three schools of thought on what sources are likely to be the source of business success: the resource-based view, competence-based view, and dynamic capabilities view. It also discusses criticisms of the resource-based view, which is the most widely used model. Specifically, it outlines 13 criticisms of the resource-based view's VRIO framework, including that it does not fully explain how resources create strategic value and that the framework is not implementable in practice. The document concludes that resources alone cannot create competitive advantage and that dynamic capabilities need to be designed and continuously improved to achieve new advantages.
Report
Share
Report
Share
Recommended
Rbv
The document summarizes key differences between the Industrial Organization (IO) view and Resource-Based View (RBV) of firms. The IO view focuses on external industry conditions and assumes firms have identical resources, while the RBV focuses on internal characteristics and assumes resources are heterogeneous.
Presentation on 'Competing on Resources', article by David J. Collins & Cynth...
This document summarizes the resource-based view of strategy. It discusses:
1. The evolution of strategic theories from focusing on industry structure to recognizing the importance of a firm's internal resources.
2. How the resource-based view sees firms as collections of tangible and intangible assets that determine effectiveness and competitive advantage.
3. Five tests to determine if a resource is competitively valuable - inimitability, durability, appropriability, substitutability, and competitive superiority.
4. Strategic implications around identifying, investing in, upgrading, and leveraging resources to meet the five tests and gain competitive advantage.
Resources based view
The document discusses the development of the resource-based view of the firm and provides a critical appraisal of the theory, outlining both its methodological difficulties and practical insights. It examines the empirical evidence supporting the resource-based view and addresses areas that require further focus, such as resource functionality and combining the theory with other strategic perspectives.
Resource based view of firm
This document provides an overview of strategic management and the resource-based view (RBV) of the firm. It discusses the key differences between the industrial organization model and RBV, defining resources and capabilities in RBV. VRIO framework is explained for assessing if resources can provide sustained competitive advantage. Criticisms of RBV are outlined along with suggestions for future research, such as further defining resources and developing a more subjective view of resource value in RBV theory.
strategic analysis and choices in a multi business company
This document discusses strategic analysis and choice in multi-business companies. It covers key concepts like portfolio approach, synergy approach, parenting approach, and patching approach. The portfolio approach uses tools like the BCG matrix and Industry Attractiveness-Business Strength matrix to evaluate strategic options. The synergy approach leverages core competencies across business units. The parenting approach provides guidance to business units. The patching approach allows for frequent small changes. Rationalizing diversification and integration, as well as behavioral and political factors that influence strategic choices are also examined.
AOL Time Warner Merger Case Study
AOL Time Warner Merger Case Study Strategic Analysis, performing a SWOT, discussing the Culture of both firm's using Henry Mintzberg's Model, and evaluating the strategy.
Dynamic Capabilities
The document discusses the concepts of dynamic capabilities and the resource-based view of the firm. It explains that dynamic capabilities allow firms to adapt their resource configurations to changing market conditions in order to gain and maintain competitive advantages. Specifically, dynamic capabilities help firms rearrange and develop their resources to create new value through activities like product development, strategic decision-making, and alliance-building. The document also discusses how dynamic capabilities differ based on the level of dynamism in a market and how firms can develop and improve their dynamic capabilities over time through processes like repeated practice, codification of procedures, and learning from failures.
Resource Based View Theory .ppt
The document discusses the Resource Based View (RBV) approach to competitive advantage. The RBV states that a company's internal resources are more important than external factors in determining competitive advantage. Resources include capital, equipment, employee skills, and brands, while capabilities are the ability of resources to perform tasks. There are three categories of resources: physical, human, and organizational. According to RBV, competitive resources and capabilities should be rare, difficult to imitate, and have no substitutes.
Recommended
Rbv
The document summarizes key differences between the Industrial Organization (IO) view and Resource-Based View (RBV) of firms. The IO view focuses on external industry conditions and assumes firms have identical resources, while the RBV focuses on internal characteristics and assumes resources are heterogeneous.
Presentation on 'Competing on Resources', article by David J. Collins & Cynth...
This document summarizes the resource-based view of strategy. It discusses:
1. The evolution of strategic theories from focusing on industry structure to recognizing the importance of a firm's internal resources.
2. How the resource-based view sees firms as collections of tangible and intangible assets that determine effectiveness and competitive advantage.
3. Five tests to determine if a resource is competitively valuable - inimitability, durability, appropriability, substitutability, and competitive superiority.
4. Strategic implications around identifying, investing in, upgrading, and leveraging resources to meet the five tests and gain competitive advantage.
Resources based view
The document discusses the development of the resource-based view of the firm and provides a critical appraisal of the theory, outlining both its methodological difficulties and practical insights. It examines the empirical evidence supporting the resource-based view and addresses areas that require further focus, such as resource functionality and combining the theory with other strategic perspectives.
Resource based view of firm
This document provides an overview of strategic management and the resource-based view (RBV) of the firm. It discusses the key differences between the industrial organization model and RBV, defining resources and capabilities in RBV. VRIO framework is explained for assessing if resources can provide sustained competitive advantage. Criticisms of RBV are outlined along with suggestions for future research, such as further defining resources and developing a more subjective view of resource value in RBV theory.
strategic analysis and choices in a multi business company
This document discusses strategic analysis and choice in multi-business companies. It covers key concepts like portfolio approach, synergy approach, parenting approach, and patching approach. The portfolio approach uses tools like the BCG matrix and Industry Attractiveness-Business Strength matrix to evaluate strategic options. The synergy approach leverages core competencies across business units. The parenting approach provides guidance to business units. The patching approach allows for frequent small changes. Rationalizing diversification and integration, as well as behavioral and political factors that influence strategic choices are also examined.
AOL Time Warner Merger Case Study
AOL Time Warner Merger Case Study Strategic Analysis, performing a SWOT, discussing the Culture of both firm's using Henry Mintzberg's Model, and evaluating the strategy.
Dynamic Capabilities
The document discusses the concepts of dynamic capabilities and the resource-based view of the firm. It explains that dynamic capabilities allow firms to adapt their resource configurations to changing market conditions in order to gain and maintain competitive advantages. Specifically, dynamic capabilities help firms rearrange and develop their resources to create new value through activities like product development, strategic decision-making, and alliance-building. The document also discusses how dynamic capabilities differ based on the level of dynamism in a market and how firms can develop and improve their dynamic capabilities over time through processes like repeated practice, codification of procedures, and learning from failures.
Resource Based View Theory .ppt
The document discusses the Resource Based View (RBV) approach to competitive advantage. The RBV states that a company's internal resources are more important than external factors in determining competitive advantage. Resources include capital, equipment, employee skills, and brands, while capabilities are the ability of resources to perform tasks. There are three categories of resources: physical, human, and organizational. According to RBV, competitive resources and capabilities should be rare, difficult to imitate, and have no substitutes.
The Core Competence of the Corporation
Management Strategy: The Core Competence of the Corporation.
Based on Harvard Business Review with same title article written by C.K. Prahalad and Gary Hamel
Chapter 3 the internal organization- resources capabilities core competencies...
This chapter discusses analyzing a company's internal organization to understand its resources, capabilities, and core competencies as foundations for competitive advantage. It covers tangible and intangible resources that create organizational capabilities and core competencies. Managers must identify core competencies using criteria like valuable, rare, costly-to-imitate, and nonsubstitutable to focus on capabilities that provide competitive parity or advantage. Tools like value chain analysis and outsourcing can help companies develop and maintain core competencies amid changing business conditions.
Functional Strategies
The document summarizes different types of functional strategies that support corporate and business unit objectives. It discusses marketing, research and development, human resource management, financial, and information management strategies. The strategies focus on maximizing productivity of resources within each functional area to provide competitive advantages.
Chapter 3 grand strategy
Grand strategies are long term plans that guide organizations towards achieving their strategic objectives. They involve decisions about stability, growth, retrenchment, or combinations of these. Stability strategies maintain the status quo, while growth strategies aim to increase profits and market share through expansion or diversification. Retrenchment strategies involve contraction through divestment, turnaround, or liquidation. Combination strategies use different approaches for different business units. Grand strategies are selected based on internal and external analyses and aim to provide long term direction.
Profit strategy stability strategies - corporate level strategies
A profit strategy is one that capitalizes on a situation in which old and obsolete product or technology is being replaced by a new one. This type of strategy does not require new investment, so it is not a growth strategy. Firms adopting this strategy decide to follow the same technology, at least partially, while transiting into new technological domains.
Apple Blue ocean-strategy
This document discusses Apple's use of blue ocean strategy to drive innovation and business success. It provides an overview of blue ocean strategy concepts like creating uncontested market space, focusing on non-customers, and using value innovation to eliminate, reduce, raise and create new elements. The document then analyzes Apple's strategic moves like simplifying interfaces, adding applications and improving design to attract new customers beyond the existing market. Finally, it discusses frameworks and principles for formulating and executing blue ocean strategies while minimizing risks.
Different levels of strategy
This document discusses the three levels of strategic management - corporate, business, and operational.
The corporate level focuses on the overall plan for the organization and strategic business units. Strategy at this level involves conceptual decisions. The business level determines how each business unit will compete and allocates resources. Operational level strategies improve internal functions like manufacturing and marketing.
Effective strategic management requires coordination across all three levels to improve profitability.
Prsentation on space matrix
The document discusses the Strategic Position and Action Evaluation (SPACE) matrix, which is a tool used to evaluate strategic plans and determine a company's strategic posture in the market. It involves assessing factors related to an organization's competitive advantage, industry strength, environmental stability, and financial strength to plot the company's position on the SPACE matrix. The position will indicate which of four strategic postures - defensive, conservative, competitive, or aggressive - the company should pursue.
Str Mgt Lesson 4 Internal Scanning Scanning
Internal scanning is important for identifying a firm's internal strategic factors and resources. A resource provides competitive advantage if it is valuable, rare, difficult to imitate, and the organization is well-structured to exploit it. A strategic audit examines a firm's functional resources, organizational structure, culture, and assesses its strengths and weaknesses using frameworks like VRIO and IFAS.
The theory of business
1) A theory of the business outlines key assumptions about the environment, mission, and core competencies of an organization.
2) Examples are provided of IBM and GM, whose original theories became outdated as realities changed, leading to stagnation.
3) For a theory to be valid, its assumptions must fit reality, be consistent internally, and be understood throughout the organization. The theory also must be constantly tested and updated.
Diversification strategy
The document discusses diversification strategy and its relationship to firm performance. It defines different types of diversification, like related and unrelated diversification. While diversification can help firms grow and spread risk, creating synergies between different business is difficult to achieve in practice. Empirical evidence on the relationship between diversification and performance is mixed, with some studies finding diversified firms perform worse. The document examines different motives for diversification and argues that growth alone does not create shareholder value unless synergies exist. It also outlines Porter's tests that diversification must meet to benefit shareholders.
Teece dynamic capabilities-routines-versus_entrepreneurial_action_ppt
Dynamic capabilities allow organizations to sense opportunities, seize opportunities, and transform themselves. They consist of microfoundations like routines, methodologies, and individual acts. Microfoundations include routines for sensing opportunities, as well as non-routine acts by leaders. Effective microfoundations balance routines with non-routine innovation. Research studies both the nature of individual microfoundations and their complex interactions.
Corporate analysis and strategies
The document provides an overview of various corporate analysis frameworks and strategies. It discusses concepts like the resource-based approach, value chain analysis, SWOT analysis, and growth strategies. The resource-based approach emphasizes analyzing a firm's internal resources and capabilities to achieve competitive advantages. Value chain analysis examines a firm's activities to identify sources of value and competitive advantages. SWOT analysis involves analyzing internal strengths and weaknesses and external opportunities and threats. Growth strategies aim to accelerate sales, profits, and market share through entering new markets or developing new products.
The Customer-Centered Innovation Map
Job mapping involves breaking a job down into its constituent steps:
1) Define the objective and plan the approach
2) Locate the necessary inputs
3) Prepare the inputs and environment
4) Confirm readiness to execute
5) Execute the job
6) Monitor the job's execution
7) Modify if needed to complete the job successfully
8) Conclude the job by finishing or preparing to repeat
Understanding the job from the customer's perspective allows companies to innovate by improving execution, eliminating steps, enabling new locations/times, or addressing overlooked steps.
Types of strategies
This document discusses various types of corporate strategies including integration strategies like forward, backward, and vertical integration. It also discusses intensive strategies such as market penetration, market development, and product development. Diversification strategies including concentric, conglomerate, and horizontal diversification are explained. Defensive strategies like retrenchment, divestiture, and liquidation are also outlined. Throughout, the document emphasizes the crucial role of managers in successfully implementing these strategies through developing expertise in managing diversification.
Strategy formulation : functional strategy & Strategy Choice
This document discusses various aspects of strategy formulation, including functional strategies, the sourcing decision of outsourcing and offshoring, strategies to avoid, making strategic choices, and developing policies. It provides details on different types of functional strategies such as marketing, R&D, operations, and HR strategies. It also explains the process of evaluating strategic options, making choices, and setting policies to implement strategies.
SM Lecture Four : Strategic Purpose, Culture and Strategy
This document provides an overview of key topics from Chapters 4 and 5 of the textbook for the BUSM 3200 Strategic Management course. It discusses strategic purpose including values, vision, mission, objectives, corporate governance, and corporate social responsibility. It also discusses organizational culture and how culture impacts strategy implementation. The document is intended to summarize key points from the textbook chapters, not replace the required reading. It may also include additional material from other sources.
How competitive forces shape strategy sec a group 4 (1)
- Michael Porter's five forces framework analyzes the competitive environment in an industry by looking at five key areas: the threat of new entrants, the power of suppliers, the power of buyers, the threat of substitute products, and the intensity of rivalry among existing competitors.
- The framework is used to understand the profit potential and attractiveness of an industry, and can help companies develop strategies to improve their competitive position.
- When applied to the Indian aviation industry, the five forces analysis shows high supplier power, strong buyer power, low barriers to entry but high exit barriers, threats from substitutes like trains and video conferencing, and intense price competition among airlines.
Strategic group mapping
This document discusses strategic group mapping, which is a technique used to analyze a firm's competitive position within its industry. It involves identifying the key competitive factors that distinguish strategic groups, plotting representative firms on a two-dimensional map based on these factors, and using a third variable like market share to depict group size. Strategic group mapping helps identify a firm's direct competitors, potential partners, and opportunities to move between groups. While useful for competition analysis, it provides a static view that does not account for industry disruption through innovation.
Diversification strategies
This document discusses strategies for managing a group of diversified businesses. It explains that diversification involves operating in multiple business lines across different industries. A diversified company must craft a strategy that addresses several businesses competing in diverse environments. The document outlines related diversification, which involves businesses with strategic fits between value chains, and unrelated diversification, with no strategic fits. Related diversification offers potential for competitive advantages from skills transfer and cost savings, while unrelated diversification scatters risk across industries but provides limited competitive benefits. The document also discusses strategies for entering new businesses and evaluating diversification approaches.
Firm Resources and Sustained Competitive Advantage
A brief presentation on summary for Jay B.Barney Paper titled : Firm Resources and sustained competitive advantage
How do you create and sustain a profitable strategy
The document summarizes a Harvard Business Review article about developing a profitable strategy based on a company's resources and capabilities. The authors propose a resource-based view of the firm that uses market tests to determine if a company's resources can truly provide the basis for a valuable strategy. They also argue that where a company chooses to operate, in addition to its resources, determines profitability. Using examples like Disney, Cooper, Sharp, and Newell, the authors show how resource-based strategies can create and sustain competitive advantages at the business unit level and in attractive markets.
More Related Content
What's hot
The Core Competence of the Corporation
Management Strategy: The Core Competence of the Corporation.
Based on Harvard Business Review with same title article written by C.K. Prahalad and Gary Hamel
Chapter 3 the internal organization- resources capabilities core competencies...
This chapter discusses analyzing a company's internal organization to understand its resources, capabilities, and core competencies as foundations for competitive advantage. It covers tangible and intangible resources that create organizational capabilities and core competencies. Managers must identify core competencies using criteria like valuable, rare, costly-to-imitate, and nonsubstitutable to focus on capabilities that provide competitive parity or advantage. Tools like value chain analysis and outsourcing can help companies develop and maintain core competencies amid changing business conditions.
Functional Strategies
The document summarizes different types of functional strategies that support corporate and business unit objectives. It discusses marketing, research and development, human resource management, financial, and information management strategies. The strategies focus on maximizing productivity of resources within each functional area to provide competitive advantages.
Chapter 3 grand strategy
Grand strategies are long term plans that guide organizations towards achieving their strategic objectives. They involve decisions about stability, growth, retrenchment, or combinations of these. Stability strategies maintain the status quo, while growth strategies aim to increase profits and market share through expansion or diversification. Retrenchment strategies involve contraction through divestment, turnaround, or liquidation. Combination strategies use different approaches for different business units. Grand strategies are selected based on internal and external analyses and aim to provide long term direction.
Profit strategy stability strategies - corporate level strategies
A profit strategy is one that capitalizes on a situation in which old and obsolete product or technology is being replaced by a new one. This type of strategy does not require new investment, so it is not a growth strategy. Firms adopting this strategy decide to follow the same technology, at least partially, while transiting into new technological domains.
Apple Blue ocean-strategy
This document discusses Apple's use of blue ocean strategy to drive innovation and business success. It provides an overview of blue ocean strategy concepts like creating uncontested market space, focusing on non-customers, and using value innovation to eliminate, reduce, raise and create new elements. The document then analyzes Apple's strategic moves like simplifying interfaces, adding applications and improving design to attract new customers beyond the existing market. Finally, it discusses frameworks and principles for formulating and executing blue ocean strategies while minimizing risks.
Different levels of strategy
This document discusses the three levels of strategic management - corporate, business, and operational.
The corporate level focuses on the overall plan for the organization and strategic business units. Strategy at this level involves conceptual decisions. The business level determines how each business unit will compete and allocates resources. Operational level strategies improve internal functions like manufacturing and marketing.
Effective strategic management requires coordination across all three levels to improve profitability.
Prsentation on space matrix
The document discusses the Strategic Position and Action Evaluation (SPACE) matrix, which is a tool used to evaluate strategic plans and determine a company's strategic posture in the market. It involves assessing factors related to an organization's competitive advantage, industry strength, environmental stability, and financial strength to plot the company's position on the SPACE matrix. The position will indicate which of four strategic postures - defensive, conservative, competitive, or aggressive - the company should pursue.
Str Mgt Lesson 4 Internal Scanning Scanning
Internal scanning is important for identifying a firm's internal strategic factors and resources. A resource provides competitive advantage if it is valuable, rare, difficult to imitate, and the organization is well-structured to exploit it. A strategic audit examines a firm's functional resources, organizational structure, culture, and assesses its strengths and weaknesses using frameworks like VRIO and IFAS.
The theory of business
1) A theory of the business outlines key assumptions about the environment, mission, and core competencies of an organization.
2) Examples are provided of IBM and GM, whose original theories became outdated as realities changed, leading to stagnation.
3) For a theory to be valid, its assumptions must fit reality, be consistent internally, and be understood throughout the organization. The theory also must be constantly tested and updated.
Diversification strategy
The document discusses diversification strategy and its relationship to firm performance. It defines different types of diversification, like related and unrelated diversification. While diversification can help firms grow and spread risk, creating synergies between different business is difficult to achieve in practice. Empirical evidence on the relationship between diversification and performance is mixed, with some studies finding diversified firms perform worse. The document examines different motives for diversification and argues that growth alone does not create shareholder value unless synergies exist. It also outlines Porter's tests that diversification must meet to benefit shareholders.
Teece dynamic capabilities-routines-versus_entrepreneurial_action_ppt
Dynamic capabilities allow organizations to sense opportunities, seize opportunities, and transform themselves. They consist of microfoundations like routines, methodologies, and individual acts. Microfoundations include routines for sensing opportunities, as well as non-routine acts by leaders. Effective microfoundations balance routines with non-routine innovation. Research studies both the nature of individual microfoundations and their complex interactions.
Corporate analysis and strategies
The document provides an overview of various corporate analysis frameworks and strategies. It discusses concepts like the resource-based approach, value chain analysis, SWOT analysis, and growth strategies. The resource-based approach emphasizes analyzing a firm's internal resources and capabilities to achieve competitive advantages. Value chain analysis examines a firm's activities to identify sources of value and competitive advantages. SWOT analysis involves analyzing internal strengths and weaknesses and external opportunities and threats. Growth strategies aim to accelerate sales, profits, and market share through entering new markets or developing new products.
The Customer-Centered Innovation Map
Job mapping involves breaking a job down into its constituent steps:
1) Define the objective and plan the approach
2) Locate the necessary inputs
3) Prepare the inputs and environment
4) Confirm readiness to execute
5) Execute the job
6) Monitor the job's execution
7) Modify if needed to complete the job successfully
8) Conclude the job by finishing or preparing to repeat
Understanding the job from the customer's perspective allows companies to innovate by improving execution, eliminating steps, enabling new locations/times, or addressing overlooked steps.
Types of strategies
This document discusses various types of corporate strategies including integration strategies like forward, backward, and vertical integration. It also discusses intensive strategies such as market penetration, market development, and product development. Diversification strategies including concentric, conglomerate, and horizontal diversification are explained. Defensive strategies like retrenchment, divestiture, and liquidation are also outlined. Throughout, the document emphasizes the crucial role of managers in successfully implementing these strategies through developing expertise in managing diversification.
Strategy formulation : functional strategy & Strategy Choice
This document discusses various aspects of strategy formulation, including functional strategies, the sourcing decision of outsourcing and offshoring, strategies to avoid, making strategic choices, and developing policies. It provides details on different types of functional strategies such as marketing, R&D, operations, and HR strategies. It also explains the process of evaluating strategic options, making choices, and setting policies to implement strategies.
SM Lecture Four : Strategic Purpose, Culture and Strategy
This document provides an overview of key topics from Chapters 4 and 5 of the textbook for the BUSM 3200 Strategic Management course. It discusses strategic purpose including values, vision, mission, objectives, corporate governance, and corporate social responsibility. It also discusses organizational culture and how culture impacts strategy implementation. The document is intended to summarize key points from the textbook chapters, not replace the required reading. It may also include additional material from other sources.
How competitive forces shape strategy sec a group 4 (1)
- Michael Porter's five forces framework analyzes the competitive environment in an industry by looking at five key areas: the threat of new entrants, the power of suppliers, the power of buyers, the threat of substitute products, and the intensity of rivalry among existing competitors.
- The framework is used to understand the profit potential and attractiveness of an industry, and can help companies develop strategies to improve their competitive position.
- When applied to the Indian aviation industry, the five forces analysis shows high supplier power, strong buyer power, low barriers to entry but high exit barriers, threats from substitutes like trains and video conferencing, and intense price competition among airlines.
Strategic group mapping
This document discusses strategic group mapping, which is a technique used to analyze a firm's competitive position within its industry. It involves identifying the key competitive factors that distinguish strategic groups, plotting representative firms on a two-dimensional map based on these factors, and using a third variable like market share to depict group size. Strategic group mapping helps identify a firm's direct competitors, potential partners, and opportunities to move between groups. While useful for competition analysis, it provides a static view that does not account for industry disruption through innovation.
Diversification strategies
This document discusses strategies for managing a group of diversified businesses. It explains that diversification involves operating in multiple business lines across different industries. A diversified company must craft a strategy that addresses several businesses competing in diverse environments. The document outlines related diversification, which involves businesses with strategic fits between value chains, and unrelated diversification, with no strategic fits. Related diversification offers potential for competitive advantages from skills transfer and cost savings, while unrelated diversification scatters risk across industries but provides limited competitive benefits. The document also discusses strategies for entering new businesses and evaluating diversification approaches.
What's hot (20)
Chapter 3 the internal organization- resources capabilities core competencies...
Chapter 3 the internal organization- resources capabilities core competencies...
Profit strategy stability strategies - corporate level strategies
Profit strategy stability strategies - corporate level strategies
Teece dynamic capabilities-routines-versus_entrepreneurial_action_ppt
Teece dynamic capabilities-routines-versus_entrepreneurial_action_ppt
Strategy formulation : functional strategy & Strategy Choice
Strategy formulation : functional strategy & Strategy Choice
SM Lecture Four : Strategic Purpose, Culture and Strategy
SM Lecture Four : Strategic Purpose, Culture and Strategy
How competitive forces shape strategy sec a group 4 (1)
How competitive forces shape strategy sec a group 4 (1)
Similar to Resource Based view (RBV) and 13 Criticisms
Firm Resources and Sustained Competitive Advantage
A brief presentation on summary for Jay B.Barney Paper titled : Firm Resources and sustained competitive advantage
How do you create and sustain a profitable strategy
The document summarizes a Harvard Business Review article about developing a profitable strategy based on a company's resources and capabilities. The authors propose a resource-based view of the firm that uses market tests to determine if a company's resources can truly provide the basis for a valuable strategy. They also argue that where a company chooses to operate, in addition to its resources, determines profitability. Using examples like Disney, Cooper, Sharp, and Newell, the authors show how resource-based strategies can create and sustain competitive advantages at the business unit level and in attractive markets.
Functional Capability and Resource Analysis Methodology Report
- Long-form analytical response (LFAR) on the VRIO model of analysis
- Completed as coursework for Advanced Competitive Intelligence
Supply Management Talent Wars
The document discusses the "war for talent" in supply management and argues that traditional views of talent based on skills and experiences are outdated. It suggests competencies that include knowledge and attitudes better capture the abilities needed. The summary defines competencies and outlines the World Class Supply Management model, which identifies stages of evolution and variables that can help reframe supply management talent needs.
Resources and CapabilitiesThe RBV and the VRIO Framework.docx
Resources and Capabilities
The RBV and the VRIO Framework
Core Competences
The Value Chain
Dynamic Capabilities
fisher.osu.edu
Objectives
Internal Analysis
OSU Fisher College of Business
Hawk • Strategic Management
Industry Effects vs Firm Effects
What matters more: industry differences or firm differences?
Internal Analysis
We are moving more internal….
SWOT and Internal Attributes
Barney motivates the article with SWOT analysis. What is SWOT, and how does it fit with the course?SWOT = Strengths, Weaknesses, Opportunities, ThreatsBarney says there are a lot of tools to analyze the external environment (Industry Analysis), but there has been less development of tools to analyze the firm’s strengths and weaknessesBarney provides an approach to analyzing the competitive implications of a firm’s INTERNAL strengths and weaknesses
Barney
Resources and Capabilities
What does Barney call these internal attributes?RESOURCES AND CAPABILITIES!What are these resources and capabilities?All of the financial, physical, human, and organizational assets used by a firm to develop, manufacture, and deliver products or services to its customersFinancial resources = debt, equity, retained earnings, etcPhysical resources = machines, manufacturing facilities, and buildingsHuman resources = all of the experience, knowledge, judgment, risk taking propensity, and wisdom of individualsOrganizational resources = the history, relationships, trust, and organizational culture, along with a firm’s formal reporting structure, explicit management control systems, and compensation policies
Barney
Tangible and Intangible Resources
Rothaermel Chapter 4
Tangible and Intangible Resources
Rothaermel Chapter 4SummaryTangible resources = resources that are visible, have physical attributes (buildings, factories, equipment, etc.)Intangible resources = resources that are invisible, have no physical attributes (knowledge, technology, patents)Which is more likely to lead to a competitive advantage? intangible!Google example:Tangible resources valued at $5 billionIntangible resources valued at over $100 billion
Barney’s Approach (VRIO)
Barney says he provides an easy-to-apply approach to analyzing the competitive implications of a firm’s internal strengths and weaknesses. What is this approach?It is essentially a battery of tests to assess the strategic value of each resource of a firmIt lets us really assess whether a resource will provide SUSTAINABLE competitive advantageManagers should address 4 questions about their resources and capabilities:1. The Question of Value2. The Question of Rareness3. The Question of Imitability4. The Question of OrganizationLet’s go through each one….
Barney
The Question of Value
What is this?Do a firm’s resources and capabilities add value by enabling it to exploit opportunities and/or neutralize threats?What’s the basic idea here?Identify what the firm is good at (ie, boosting ∏)Honda’s engines are reliableNorthstar’s veg ...
Z1379A_712_MeasUp_Ltr_HRcrops
The document discusses how companies can improve their talent supply chain management through the use of talent supply chain analytics. It argues that most companies focus too narrowly on internal metrics and talent needs, rather than analyzing trends across their entire talent supply chain. An effective talent supply chain analytics approach uses data-driven insights to benchmark against best practices, understand relationships between different metrics, and develop predictive insights to strategically manage the talent supply chain over time. This allows companies to move beyond basic reporting and optimization to gain a strategic advantage in acquiring and managing talent.
Value chain
It is an easy-to-use tool for developing an overview of a company’s strategic situation
It forms a basis for matching your company’s strategy to its situation
Internal Stragegy
The document discusses internal analysis and the resource-based view (RBV) framework. [1] The RBV holds that firms can achieve competitive advantages through distinct bundles of resources and capabilities. [2] Internal analysis examines a firm's strengths, weaknesses, and how they compare to competitors. [3] The VRIO framework evaluates if resources are valuable, rare, difficult to imitate, and exploited by the organization to create sustained competitive advantages.
100_IJAR-15975.pdf
This document discusses strategic resources that can provide sustainable competitive advantage for companies. It defines resources as any assets, capabilities, or knowledge that a company controls. To gain competitive advantage, resources must be valuable, rare, imperfectly imitable, and non-substitutable (VRIN). However, the authors identify an alternative framework of strategic resources being excellent, non-substitutable, non-tradable, rare, imperfectly imitable, and able to be modified (EXSTRIM). If companies can effectively combine and manage their strategic EXSTRIM resources, it can help them achieve and maintain a sustainable competitive advantage over competitors.
Article 1
This document summarizes an academic article about organizational ambidexterity, or the ability of organizations to balance exploration of new opportunities with exploitation of existing capabilities. It discusses how maintaining this balance is important for long-term survival but difficult to achieve. Three case studies are presented of leaders attempting to drive ambidexterity in their companies: Mike Lawrie addressing disruptive innovation at Misys, Ganesh Natarajan implementing new software processes at Zensar Technologies, and Andy Palmer balancing legacy automotive business with electric vehicles at Nissan.
BUS 499, Week 3 The Internal Organization Resources, Capabilitie
BUS 499, Week 3: The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages
Slide #
Topic
Narration
1
Introduction
Welcome to the Business Administration Capstone.
In this lesson we will discuss The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages
Next slide.
2
Objectives
Upon completion of this lesson, you will be able to:
Analyze the internal environment of a company for strengths and weaknesses that impact the firm’s competitiveness.
Next slide.
3
Topics
In order to achieve this objective, the following supporting topics will be covered:
Analyzing the internal organization;
Resources, capabilities, and core competencies;
Building core competencies;
Outsourcing; and
Competencies, strengths, weaknesses, and strategic decisions.
Next slide.
4
Internal Analysis
In the global economy, traditional factors such as labor costs, access to financial resources and raw materials, and protected or regulated markets remain sources of competitive advantage, but to a lesser degree. One important reason is that competitors can apply their resources to successfully use an international strategy as a means of overcoming the advantages created by these more traditional sources.
Increasingly, those who analyze their firm’s internal organization should use a global mind-set to do so. A global mind-set is the ability to study an internal organization in ways that are not dependent on the assumptions of a single country, culture, or context. Because they are able to span artificial boundaries, those with a global mind-set recognize that their firms must possess resources and capabilities that allow understanding of and appropriate response to competitive situations that are influenced by country-specific factors and unique societal cultures.
Finally, analysis of the firm’s internal organization requires that evaluators examine the firm’s portfolio of resources and the bundles of heterogeneous resources and capabilities managers have created. This perspective suggests that individual firms possess at least some resources and capabilities that other companies do not.
Next slide.
5
Creating Value
By exploiting their core competencies or competitive advantages to at least meet if not exceed the demanding standards of global competition, firms create value for customers. Value is measured by a product’s performance characteristics and by its attributes for which customers are willing to pay.
Firms with a competitive advantage offer value to customers that are superior to the value competitors provide. Firms create value by innovatively bundling and leveraging their resources and capabilities. Firms unable to creatively bundle and leverage their resources and capabilities in ways that create value for customers suffer performance declines. Sometimes, it seems that these declines may happen because firms fail to understand what customers value.
Ultimately, creating value for ...
Nike.pptx
Nike's core competency is its ability to create and leverage athlete endorsements effectively. It strategically selects athletes who align with its brand image and values, and invests in elevating them into heroes through storytelling and marketing. While risky, as athletes may face controversies, this approach has driven Nike's historical success in building its brand around athletics globally. VRIO analysis shows that while imitable, Nike's competency provides value and is challenging for competitors to fully replicate due to its experience, reputation, and resources to organize capturing value from athlete endorsements.
Class Plan 3 The early bird may get the worm, but the se.docx
Class Plan 3 “The early bird may get the worm, but the second mouse gets the cheese” AnonymousQuestions for the next caseBrief discussion of the Apollo caseReview of 5-forces, including exercise Move on to Chapter 3 on Internal Analysis + extra information on VRIO approachExercises & video on Internal Analysis
Questions for the Nokia case
Have Nokia’s mission and vision (or their implementation) been partially responsible for their faltering performance?
Using the 5-forces model, what industry threats should Nokia have identified in their strategic pursuits?
What can Nokia do to continue to compete globally and domestically?
Porter’s Five Forces Model (Fig 2.2 p45 adapted)
Rivalry among established firms
Risk of entry by potential competitors
Bargaining power of suppliers
Bargaining power of buyers
Threat of substitute products
Special role of complements
Product Lifecycle
Time
Demand
Embryonic
Growth
Shakeout
Mature
Declining
Macro-environmental Forces [Environmental Scanning]
Macroeconomics: growth rate of the economy, interest rates, currency exchange rates, inflation rates
Technological: “creative destruction”, shifting barriers to entry
Social: lifestyles, trends and attitudes
Demographics: composition of the population, factors such as income distribution, education, labour mobility, gender
Political & Legal : deregulation and free trade
Global: falling barriers to trade, new economic development
More on 5-forces model
Strategic Groups Def.: subsections of industry with the same basic strategy in-group
Implications: closest competitors are in the same groupgroups, to some extent, face different 5+-forcesexit & entry barriers exist between groups
Limitations of 5+-Forces & Strategic Groups models Static picture with limited attention to innovation. Industries evolve “unfrozen and reshaped” by technology : punctuated equilibrium hyper-competitive industries with no equilibriumdownplays individual company differencesstudies show that industry only accounts for 10%-20% of variance in firms’ profit rates
Internal AnalysisThe purpose of internal analysis is to pinpoint the strengths and weaknesses of the organization.
Strengths lead to superior performance. Weaknesses lead to inferior performance.
Internal Analysis includes an assessment of:Quantity and quality of a company’s resources and capabilitiesWays of building unique skills and company-specific or distinctive competencies
The Theory Behind Internal Analysis
The Resource-Based View
• developed to answer the question: Why do some
firms achieve better economic performance
than others?
• assumes that a firm’s resources and capabilities
are the primary drivers of competitive advantage
and economic performance
• used to help firms achieve competitive advantage
and superior economic performance
The Resource-Based View
Resources and Capabilities
Resources:
• tangible and intangible assets of a firm
» .
Share Harvard-style-Second Assignment _ Strategic HR _Netflix(Rev1) (1).pdf
Strategic Leadership and Human Resource Management - Creating a Culture of Human Capital in the Age of the 4IR (Fourth Industrial Revolution).
Deepa Abraham.
Strategic Planning Forw In Rev By Hayes
The document discusses alternative approaches to strategic planning. The traditional approach involves establishing objectives first, then developing strategies to achieve those objectives, and finally marshalling resources for implementation. However, this approach assumes predictable environments and stability. The alternative proposed begins with developing organizational capabilities, then allowing strategies to emerge from exploiting those capabilities, with objectives emerging later to guide the organization. This reverse approach is argued to better position an organization for success in dynamic competitive environments.
Dissertation report-on-putting-hr-on-balanced-scorecard-a-case-study-of-verizon1
This document provides a dissertation report on implementing a balanced scorecard approach for human resources at Verizon, a large telecommunications company. The report includes an introduction highlighting the importance of aligning HR with business strategy. It then covers the research methodology, which is exploratory in nature and based on secondary data sources. A literature review discusses several sources on using balanced scorecards for HR. The main body of the report explains HR architecture and how balanced scorecards can develop HR as a strategic partner. It also presents a case study of how Verizon implemented an HR balanced scorecard to measure its intangible assets and human capital. The conclusion discusses the findings, limitations, and recommendations based on Verizon's experience.
Dyn theo strat
The document discusses theories of competitive advantage and strategy. It begins by examining early theories that focused on internally consistent goals aligned with external opportunities and exploiting distinctive competences. It then outlines Porter's theory that competitive advantage results from an attractive industry position achieved through differentiation or lower costs. A firm's activities and the drivers that determine their relative costs or differentiation, such as scale or experience, underlie competitive advantage. Finally, it discusses the need for a dynamic theory and outlines Porter's "diamond" framework emphasizing that competitive advantage origins from the environment a firm operates in.
Journal of Logistics
The document summarizes a response to an article on the supply chain becoming the demand chain. The respondent agrees that a cross-functional perspective is needed. He provides two examples of how companies have overcome silos: 1) aligning compensation metrics across functions, and 2) following disciplined sales and operations planning processes with cross-functional accountability. The respondent urges academics to address root problems and provide thought leadership to drive business innovation through implementation of ideas. Academia should integrate with companies to demonstrate how to implement theories and manage change, rather than just publishing in hard to access journals. University programs should provide integrated, cross-functional management education to reduce silos.
Assignment saqib
The document discusses internal factors that affect firms and how firms can leverage their core competencies, resources, and capabilities to gain competitive advantages. It introduces several key concepts from the resource-based view including tangible and intangible resources, the VRIO framework, isolating mechanisms, path dependence, causal ambiguity, social complexity, intellectual property protection, core rigidity, dynamic capabilities, and the value chain. Firms can use tools like the SWOT analysis to identify their unique strengths and weaknesses and develop strategies to strengthen their competitive position.
Capitalist Dilemma
The crisis of modern capitalism and its underlying reasons based on the HBR paper ' The capitalist dilemma'.
Similar to Resource Based view (RBV) and 13 Criticisms (20)
Firm Resources and Sustained Competitive Advantage
Firm Resources and Sustained Competitive Advantage
How do you create and sustain a profitable strategy
How do you create and sustain a profitable strategy
Functional Capability and Resource Analysis Methodology Report
Functional Capability and Resource Analysis Methodology Report
Resources and CapabilitiesThe RBV and the VRIO Framework.docx
Resources and CapabilitiesThe RBV and the VRIO Framework.docx
BUS 499, Week 3 The Internal Organization Resources, Capabilitie
BUS 499, Week 3 The Internal Organization Resources, Capabilitie
Class Plan 3 The early bird may get the worm, but the se.docx
Class Plan 3 The early bird may get the worm, but the se.docx
Share Harvard-style-Second Assignment _ Strategic HR _Netflix(Rev1) (1).pdf
Share Harvard-style-Second Assignment _ Strategic HR _Netflix(Rev1) (1).pdf
Dissertation report-on-putting-hr-on-balanced-scorecard-a-case-study-of-verizon1
Dissertation report-on-putting-hr-on-balanced-scorecard-a-case-study-of-verizon1
Recently uploaded
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...Nguyen Thanh Tu Collection
https://app.box.com/s/qspvswamcohjtbvbbhjad04lg65waylfWound healing PPT
This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
skeleton System.pdf (skeleton system wow)
🔥🔥🔥🔥🔥🔥🔥🔥🔥
إضغ بين إيديكم من أقوى الملازم التي صممتها
ملزمة تشريح الجهاز الهيكلي (نظري 3)
💀💀💀💀💀💀💀💀💀💀
تتميز هذهِ الملزمة بعِدة مُميزات :
1- مُترجمة ترجمة تُناسب جميع المستويات
2- تحتوي على 78 رسم توضيحي لكل كلمة موجودة بالملزمة (لكل كلمة !!!!)
#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
🔥🔥🔥🔥🔥🔥🔥🔥🔥
Bossa N’ Roll Records by Ismael Vazquez.
Bossa N Roll Records presentation by Izzy Vazquez for Music Retail and Distribution class at Full Sail University
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...
Whether you're new to SEO or looking to refine your existing strategies, this webinar will provide you with actionable insights and practical tips to elevate your nonprofit's online presence.
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...
Andreas Schleicher, Director of Education and Skills at the OECD presents at the launch of PISA 2022 Volume III - Creative Minds, Creative Schools on 18 June 2024.
Temple of Asclepius in Thrace. Excavation results
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).
How to Manage Reception Report in Odoo 17
A business may deal with both sales and purchases occasionally. They buy things from vendors and then sell them to their customers. Such dealings can be confusing at times. Because multiple clients may inquire about the same product at the same time, after purchasing those products, customers must be assigned to them. Odoo has a tool called Reception Report that can be used to complete this assignment. By enabling this, a reception report comes automatically after confirming a receipt, from which we can assign products to orders.
A Visual Guide to 1 Samuel | A Tale of Two Hearts
These slides walk through the story of 1 Samuel. Samuel is the last judge of Israel. The people reject God and want a king. Saul is anointed as the first king, but he is not a good king. David, the shepherd boy is anointed and Saul is envious of him. David shows honor while Saul continues to self destruct.
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
INDIA`S OWN LITERARY GENIUS MR.KHUSHWANT SINGH WAS TRULY A VERY BRAVE SOUL AND WAS AWARDED WITH THE MAGIC OF WORDS BY GOD.
Contiguity Of Various Message Forms - Rupam Chandra.pptx
Contiguity Of Various Message Forms - Rupam Chandra.pptx
Geography as a Discipline Chapter 1 __ Class 11 Geography NCERT _ Class Notes...
Geography as discipline
Recently uploaded (20)
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN TẬP VÀ PHÁT TRIỂN CÂU HỎI TRONG ĐỀ MINH HỌA THI TỐT NGHIỆP THPT ...
220711130088 Sumi Basak Virtual University EPC 3.pptx
220711130088 Sumi Basak Virtual University EPC 3.pptx
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...
spot a liar (Haiqa 146).pptx Technical writhing and presentation skills
spot a liar (Haiqa 146).pptx Technical writhing and presentation skills
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...
Andreas Schleicher presents PISA 2022 Volume III - Creative Thinking - 18 Jun...
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
KHUSWANT SINGH.pptx ALL YOU NEED TO KNOW ABOUT KHUSHWANT SINGH
Contiguity Of Various Message Forms - Rupam Chandra.pptx
Contiguity Of Various Message Forms - Rupam Chandra.pptx
Geography as a Discipline Chapter 1 __ Class 11 Geography NCERT _ Class Notes...
Geography as a Discipline Chapter 1 __ Class 11 Geography NCERT _ Class Notes...
Resource Based view (RBV) and 13 Criticisms
- 1. 3 SCHOOLS OF THOUGHTS AND 13 CRITISISMS: A REVIEW OF LITERATURE HASSAN SHAHZAD IHRM | MS-EM FURC
- 2. WHY DO SOME FIRMS OUTPERFORMS OTHER ?
- 3. WHY DO SOME FIRMS OUTPERFORMS OTHER ? 2- Paradigms External Factor Paradigm Internal factor Paradigm
- 4. WHAT SOURCES ARE LIKELY TO BE SOURCE OF SUCCESS?
- 5. 3 SCHOOLS OF THOUGHTS Rational- equilibrium school RESSOURCE BASED VIEW OF FIRMS (RBV) Behavioral- evolutionary school COMPETENCE BASED VIEW OF FIRM (CBV) Social construction ist school DYNAMIC CAPABILITIES BASED VIEW OF FIRM (DC)
- 6. 3 SCHOOLS OF THOUGHTS: 1. RESOURCE BASED VIEW (RBV) •Firm ‘A’ is more successful than firm ‘B’, if Firm ‘A’ controls more efficient and effective resources than firm ‘B’
- 7. 3 SCHOOLS OF THOUGHTS: 2. COMPETENCE BASED VIEW OF FIRM (CBV) •Firm ‘A’ is more successful than firm ‘B’, if Firm ‘A’ is in a position to make use of available resources more efficiently and effectively than firm ‘B’
- 8. 3 SCHOOLS OF THOUGHTS: 3. DYNAMIC CAPABILITIES BASED VIEW OF FIRM (DC) •Firm ‘A’ is more successful than firm ‘B’, if, Firm ‘A’ has the ability to renovate competencies to achieve new forms of competitive advantages i.e., to accomplish new and innovative forms of competitive advantages.
- 9. THE RESOURCE BASED VIEW (RBV)
- 10. MOST WIDELY USED RBV -MODEL
- 11. VRIO - FRAMEWORK
- 12. ASSUMPTIONS IN VRIO MODEL 1. RESOURCES ARE HETEROGENEOUS 2. RESOURCES ARE IMMOBILE
- 14. 13 CRITICISMS This framework does not explains the features necessary to identify a resource to be called as valuable 1. The value (V) conundrum
- 15. 13 CRITICISMS If all firm’s resources are heterogeneous then at some level of analysis all resources become unique or Rare 2. The uniqueness or rare (R) dilemma
- 16. 13 CRITICISMS contradictS the core proposition of the RBV that managers can engage in “resource-based strategizing” to create sustained competitive advantage 3. The cognitive impossibility dilemma (I)
- 17. 13 CRITICISMS all the firms can apply competencies and capabilities to produce the same output 4. The Organization(O) dilemma
- 18. 13 CRITICISMS Researchers attempting to empirically test the core proposition of the RBV should identify, ex ante the resources that will have strategic value ex post 5. The Tautology problem
- 19. 13 CRITICISMS The ex post analysis provide limited insight into the circumstances that will prevail in the future 6. The static problem
- 20. 13 CRITICISMS How the resources of a firm, various processes and complementary resources helps in contributing to the overall success and competitive advantage of that firm is unexplained 7. The absence of a chain of causality
- 21. 13 CRITICISMS Assumes that every embedded resource can only create strategic value in that specific firm, while it is in fact very possible that a given resource can create even more strategic value when becoming embedded in another firm 8. Asymmetry in assumptions regarding SFMs
- 22. 13 CRITICISMS Unable to explicitly explain the complex processes, the practicing of which, the firm will be able to accumulate and maintain the valuable resources 9. Accumulation of strategic resources
- 23. 13 CRITICISMS Instead of being a bundle of resources, resources are treated as singular distinct items 10. Synergetic effect of a bundle of resources
- 24. 13 CRITICISMS VRIO framework provides no such prescriptions for practitioners who want to implement this theory inside any firm 11. Un-implementable in practice
- 25. 13 CRITICISMS core proposition of the VRIO framework does not allow for reproducibility of experiments, falsifiability, and generalizability 12. The epistemological impossibility problem
- 26. 13 CRITICISMS it is critical to establish boundaries for the framework by hypothesizing competitive contexts within which particular capabilities or competences are determined to be more or less valuable. 13. One framework for different competitive contexts
- 27. RESOURCE BASED COMPETITION CONCLUSION RESOURCES, INTRINSICALLY CANNOT BE A SOURCE OF COMPETITIVE ADVANTAGE RESOURCE PERFORMANCE MANAGEMENT PROCESSES NEED TO BE DESIGNED THESE PROCESSES MUST BE CONTINUOUS AND ALIGNED WITH STRATEGIC GOALTHE MANAGERS MUST DESIGN CHALLENGING PROGRAMS OF INNOVATIVE AND DYNAMIC CAPABILITIES RESEARCHERS MUST SITUATE THEIR RESEARCH CAREFULLY IN DIFFERENT SCHOOLS OF THOUGHT
- 29. END OF PRESENTATION THANK YOU