Resource-based View

1. Resource-based View (Barney, 1986; S. Hunt, 1990)

2. The Firm Resource-based Model of Exemplar Returns 1. Strategy dictated by unique resources and capabilities of the firm (what can the firm do best?) 2. Find an environment in which to exploit these assets (where are the best opportunities?) 1. Firm’s Resources

3. - Resources - Capability Resource-based Model of Exemplar Returns 1. Identify the firm’s resources-- strengths and weaknesses compared with competitors Resource-based Model Resources: inputs into a firm’s production process

4. Resources: Examples (Tangible and Intangible) • Building/Equipment • Brands • Technology • Brand equity • Products • Critical/Strategic Thinking • People/Talent • Business processes • Business Orientation • Innovation • Learning • Macro Structure • Vision/Mission • Strategies • Core Values • Market Orientation • - Relationship Marketing • - Market Segmentation, • Positioning and Targeting • - Marketing Mix • - Marketing Research • Competitive Intelligence • Leadership ( CEO ) • - Core Competencies • Increased Capabilities • Cross-Functional Teams (permanent) • Deontological code

5. - Resources - Capability Resource-based Model of Exemplar Returns 2. Determine the firm’s capabilities--what it can do better than its competitors Resource-based Model Capability: capacity of an integrated set of resources to integratively perform a task or activity

6. Resources Inputs to a firm’s production process. Competitive Advantage Ability of a firm to outperform its rivals Resource-Based Model of Exemplar Returns Action required: Determine how firm’s resources and capabilities may create competitive advantage. Capability Capacity for an integrated set of resources to integratively perform a task or activity.

7. Resources Capability Inputs to a firm’s production process. Competitive Advantage Capacity for an integrated set of resources to integratively perform a task or activity. An Attractive Industry Ability of a firm to outperform its rivals Location of an industry with opportunities that can be exploited by the firm’s resources and capabilities Resource-Based Model of Exemplar Returns Action required: Locate an attractive industry.

8. Resources Capability Inputs to a firm’s production process. Competitive Advantage Capacity for an integrated set of resources to integratively perform a task or activity. An Attractive Industry Ability of a firm to outperform its rivals Strategy Formulation and Implementation Location of an industry with opportunities that can be exploited by the firm’s resources and capabilities Strategic actions taken to earn above-average returns Resource-Based Model of Exemplar Returns Action required: Select strategy that best exploits resources and capabilities relative to opportunities in environs.

9. Resources Capability Inputs to a firm’s production process. Competitive Advantage Capacity for an integrated set of resources to integratively perform a task or activity. An Attractive Industry Superior Returns Ability of a firm to outperform its rivals Strategy Formulation and Implementation Location of an industry with opportunities that can be exploited by the firm’s resources and capabilities Earning of above-average returns Strategic actions taken to earn above-average returns Resource-Based Model of Exemplar Returns Action required: Maintain selected strategy in order to outperform industry rivals.

10. Resources and capabilities lead to Competitive Advantagewhen they are: Valuable allow the firm to exploit opportunities or neutralize threats in its external environment Rare possessed by few, if any, current and potential competitors Costly to Imitate when other firms either cannot obtain them or must obtain them at a much higher cost Nonsubstitutable the firm must be organized appropriately to obtain the full benefits of the resources in order to realize a competitive advantage

11. TEACHING STRATEGIC AND GLOBAL STRATEGY: EXAMPLES OF THE FIRM’S RESOURCES AS A RESOURCE – BASED VIEW OF THE FIRM • Environmental scanning • Market segmentation, targeting, and • positioning • Relationship Marketing • Market orientation • Brand equity • Marketing mix strategy • Product strategy • Distribution strategy • Pricing Strategy • Promotion Strategy • Sales force strategy • Firm resources • Firm competences • Competitive advantage • Sustainable competitive advantage • Dynamic competition • Static-equilibrium competition • Innovation • Organizational learning • Marketing research and • competitive intelligence • Competitor analysis

12. ISEG • Capabilities • Tradição/Emblemático/Histórico • Conhecimento (know how), Investigação • Valor Marca (Notoriedade) • Longevidade/Organização Conferências • Comunicação • Empreendorismo • Dinâmica/Proactiva • Aprendizagem/Adaptação • Centros Investigação/Prémio Investigação • Resources • Edificios • Capital Humano • Marca • Produto/Serviço • Cultura/Valores • Orientação para o Mercado • Inovação • Organização • Estudos Mercado/Inteligence

13. «Não há maior erro na liderança da coisa pública do que ter falsas esperanças que rapidamente são varridas pela realidade.» Winston Churchill (1950) Boston The Hinge of Fate

14. Trabalho realizado pelo Grupo 1