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Research Agenda in The Resource Based View of the Firm

Research Agenda in The Resource Based View of the Firm. Bulent Menguc Brock University. The Resource Based View of the Firm.

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Research Agenda in The Resource Based View of the Firm

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  1. Research Agenda in The Resource Based View of the Firm Bulent Menguc Brock University

  2. The Resource Based View of the Firm A firm’s valuable, rare, socially complex, and inimitable resources generate a competitive advantage and, thereby, an above-normal rate of return. Thus, the heterogeneity of resources across firms explains their comparative differences in competitive advantage in the marketplace.

  3. Multidisciplinary Literature • Management • Barney (1991, JoM) • Wernerfelt (1984, SMJ) • Marketing • Day and Wensley (1988, JM) • Hunt and Morgan (1995, 1996; JM)

  4. Type of Resources • Tangible • Examples: product/process inputs, facilities, locations, patents, and technological equipment • Characteristic: protected from imitation by property rights • Intangible • Examples: discrete or systemic knowledge-based • Characteristics: protected from imitation by knowledge barriers between competitors • allow firms to add value to their tangible resources

  5. Dynamic Capabilities Perspective (Complementarity of Resources) • Question: Why are some firms, despite the relatively superior resources they possess, not able to sustain their competitive advantage over time, especially in dynamic markets? • Answer: Some firms are more able to transform their resources into dynamic capabilities, especially in turbulent markets. • If so, HOW?

  6. Resource Complementarities Dynamic Capabilities Competitive Advantage Critical Aspects of the RBV Proposition 1: Bharadwaj, Varadarajan, and Fahy (1993, JM) Day and Wensley (1988, JM) Research - Bhuian, Menguc, and Bell (2005, JBR) - Menguc and Barker (2005, EJM) - Menguc and Ozanne (2005, JBR) - Menguc and Auh (2006, JAMS) - Auh and Menguc (2006, JBR)

  7. Internal Environment Resource Complementarities Dynamic Capabilities Competitive Advantage Critical Aspects of the RBV Proposition 2: Lado and Wilson (1994, AMR) Research-Auh and Menguc (2005, IMM) - Auh and Menguc (forthcoming, IMM)

  8. Internal Environment Business Strategy Resource Complementarities Dynamic Capabilities Positional Advantages Competitive Advantage Critical Aspects of the RBV Proposition 3: Day and Wensley (1988, JM) Research-Cousins and Menguc (2006, JOM) - Menguc, Auh, and Shih (under review, JBR) - Menguc and Auh (work in progress)

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