Linking The Resource-Based View of The Firm to Strategic Management, Part I

The resource-based view addresses many aspects of strategic management. Specifically it informs competitive and corporate strategy. Finally the perspective also informs strategic change when its logic is applied to changing environments. This development of the resource-based view is called the dynamic capability view of the firm.

Competitive strategy
The resource-based view of the firm is almost entirely focused on how firms can achieve competitive advantage with their resources. The main implications in terms of competitive strategy are that, in order to compete, firms need to manage their resources. This requires three kinds of effort: they must protect current resources, they must continually improve their resources and they must build new resources, because firms cannot solely rely on their current resources.

Competences
The resource-based view is a competence-based perspective. It encourages managers to ‘look inside for competitive advantage’. What is most likely to create a difference between firms is how resources are utilized and not only if the resources are possessed. One consequence of this recognition that intangible resources are the most likely sources of competitive advantage is the acknowledgement that people matter.

Sumber:
Jenkins, M., Ambrosini, V., & Collier, N. (2016). Advanced Strategic Management. New York: Palgrave.