Resource-based view
Strategic management theory / From Wikipedia, the free encyclopedia
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The resource-based view (RBV), often referred to as the "resource-based view of the firm",[1] is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage.
Barney's 1991 article "Firm Resources and Sustained Competitive Advantage" is widely cited as a pivotal work in the emergence of the resource-based view.[2] However, some scholars[who?] argue that there was evidence for a fragmentary resource-based theory from the 1930s.[citation needed] RBV proposes that firms are heterogeneous because they possess heterogeneous resources, meaning that firms can adopt differing strategies because they have different resource mixes.[3]
The RBV focuses managerial attention on the firm's internal resources in an effort to identify those assets, capabilities and competencies with the potential to deliver superior competitive advantages.