Resource Based View Flashcards

(4 cards)

1
Q

Resource Based View

A
  • Tool used for an internal analysis by identifying a firm’s unique resources and capabilities to determine its potential for competitive advantage.
  • By using RBV, firm can understand internal activities, find “edge” over competitors.
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2
Q

The core of RBV

A
  • The firm is a bundle of resources and when integrated they create capabilities
  • If those capabilities meet specific criteria, they become Core Competencies
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3
Q

Core Competencies

A
  1. Valuable: allows firm to exploit opportunities or get rid of threats in external environment
  2. Rare: only a few have
  3. Costly to imitate: other firms can’t easily develop/copy it
  4. Nonsubstitutable: does not have a strategic equivalent.
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4
Q

Path to competitive advantage

A

Resources, Capabilities (strengths), Core Competencies, Competitive Advantage

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