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The Resource-Based View within the Conversation of Strategic Management

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Title: The Resource-Based View within the Conversation of Strategic Management


1
The Resource-Based View within the Conversation
of Strategic Management
Presented by Christina L. Frye
2
The Resource-Based View within the Conversation
of Strategic Management
  • Joseph T. Mahoney J. Rajendran Pandian
  • (1992). Strategic Management Journal, 13(5)
    363-380.

3
Overview
  • At time of writing, RBV was an emerging
    framework.
  • Central Thesis The resource-based view
    stimulates conversation within mainstream
    strategy research and provides a framework for
    increased discussion between these research
    perspectives (p. 364).

4
Overview Contd
  • Complement (not contradictory or a replacement)
    to strategic management research perspectives
  • RBV in the Strategy Conversation Firms are
    heterogeneous and have distinct competencies and
    capabilities ? holds diversification and
    performance implications
  • RBV in the Organizational Economics Conversation
    Fits the paradigm ? 5th branch in the
    theoretical knowledge tree with agency, property
    rights, transactions cost economics, and
    evolutionary economics theories
  • RBV in the Industrial Organization Conversation
    Complements research on inimitability, imperfect
    substitutability, and sustainability

5
RBV in Strategy Conversation
  • Firms select strategy to generate rents based on
    their resource capabilities (p. 364).
  • These unique capabilities are a function of
    resources and create heterogeneity that may
    result in SCA.
  • Resources influence diversification strategy by
    (1) placing limits on growth, (2) inducing
    motives for expansion, (3) directing how it
    diversifies, and (4) explaining how well it
    performs

6
RBV in Organizational Economics Conversation
  • Theoretical paradigm is dissatisfied with
    neoclassical theory of the firm (likewise with
    RBV)
  • Neoclassical view disregards frictions in the
    market
  • RBV is dynamic ? new combinations of resources
    are means to achieve SCA
  • Successful deployment of resources is path
    dependent (evolutionary theory), depends on
    well-defined property rights, and is influenced
    by agency and transaction costs

7
RBV in Industrial Organization Conversation
  • Valuable resources are imperfectly imitable and
    imperfectly substitutable ?enables firm to
    generate and sustain rents
  • Industrial organization? external focus
  • Resource-based view? internal focus

8
Conclusion
  • RBV generalizes to strategic management and
    facilitates dialogue between scholars from
    different perspectives
  • It may not be comprehensivebut builds the
    conversation
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