The resource-based view is a strategic management theory holding that a firm's sustained competitive advantage arises primarily from the internal resources and capabilities it controls, rather than from its position within an industry as emphasized by earlier strategy frameworks. Associated with foundational contributions by Birger Wernerfelt and later developed extensively by Jay Barney, the theory argues that resources capable of producing lasting advantage must be valuable, rare, difficult to imitate, and effectively organized within the firm. The resource-based view became one of the dominant paradigms in strategic management research from the 1990s onward and underlies later frameworks such as VRIO and dynamic capabilities.
Facts
Core ClaimThe resource-based view holds that a firm's sustainable competitive advantage derives from its own heterogeneous, valuable and hard-to-imitate internal resources rather than from industry position alone. 1 Cross-Tradition Connections
Associated With
Core competence theory is classified within the resource-based view tradition of strategy.
Dynamic capabilities theory (Teece, Pisano and Shuen) is presented as an extension of the resource-based view.
VRIO is Jay Barney own operationalization of resource-based view theory.
Sources
1. Wikipedia, Resource-Based View
WikipediaWikipedia, Resource-based view lead sectionQuote, Wikipedia, Resource-based view lead section
Jay 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
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