The emergence of resource-based view of the firm in strategic management during 1980s has become ... more The emergence of resource-based view of the firm in strategic management during 1980s has become a dominant framework and it shifts our attention from the industry to the firm level as a prime determinant of firms' profitability. The theory is still in the evolving phase and its epistemology is getting richer day-by-day. The paper traces the roots of resource-based view, elucidates its economic logic and presents the critics' views. In addition, the theory's empirical assessment is presented and the methodological concerns of the research are discussed. Finally, its managerial significance is elaborated and a conclusion is drawn with regard to its contribution in the field of strategic management.
The emergence of resource-based view of the firm in strategic management during 1980s has become ... more The emergence of resource-based view of the firm in strategic management during 1980s has become a dominant framework and it shifts our attention from the industry to the firm level as a prime determinant of firms' profitability. The theory is still in the evolving phase and its epistemology is getting richer day-by-day. The paper traces the roots of resource-based view, elucidates its economic logic and presents the critics' views. In addition, the theory's empirical assessment is presented and the methodological concerns of the research are discussed. Finally, its managerial significance is elaborated and a conclusion is drawn with regard to its contribution in the field of strategic management.
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