What Is the Resource Based View of the Firm? What

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The Answer is The resource based view (RBV) of the firm is a theory that suggests that a firm's competitive advantage and performance is driven by its unique resources and capabilities. This view emphasizes the importance of tangible and intangible resources such as physical assets, human capital, knowledge, and organizational capabilities in achieving sustainable competitive advantage.

On the other hand, the knowledge based view (KBV) of the firm focuses on the role of knowledge and learning in creating and sustaining competitive advantage. This perspective suggests that knowledge is a key strategic resource and that firms that are able to effectively create, acquire, and transfer knowledge will be better positioned to compete in the market.

The resource based view originated in the 1980s and 1990s, with scholars such as Jay Barney and Birger Wernerfelt contributing to its development. The knowledge based view emerged in the 1990s, with researchers like Ikujiro Nonaka and Hirotaka Takeuchi being key figures in its development.

These views have had a significant impact on the history of strategic management. Prior to their emergence, strategic management was largely focused on external environmental factors and industry structure. The RBV and KBV shifted the focus to internal resources and capabilities, leading to a greater emphasis on building and leveraging unique and valuable assets. This shift has led to a more nuanced understanding of competitive advantage and has influenced strategic decision-making in organizations across industries. Organizations now place a greater emphasis on developing and leveraging their unique resources and knowledge to gain and sustain a competitive edge in the market.

What Is the Resource Based View of the Firm? What

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What Is the Resource Based View of the Firm? What

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