Business Policy and Strategic Planning - First Mover
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How might the resource-based view (as discussed in Chapter 5) influence the decision to be a first mover?
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This solution explains how might the resource-based view influence the decision to be a first mover.
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Resource view based on Porter's Model
Various management consultants and thinkers have defined the process of strategy in various ways. Porter's model focused on defining a firm's strategy in terms of it's product/ market positioning. Building on Porter's notion of competitive advantage, the resource based view of strategy argues that the resources and capabilities of an organization can be a source of competitive advantage if they processes certain characteristics of being rare, durable and difficult to imitate, flexible and durable.
If firms have resources with these characteristics, they can position themselves strategically on the basis of these resources and capabilities. Most of the tangible resources may not have these characteristics and hence organisations have to focus on intangible assets to be a source of competitive advantage. Many authors have stressed on the strategic importance of intangible assets for firms to achieve competitive. Thus the resource view is based on knowledge, which emphasizes building, and sustaining competitive advantage on the basis of the knowledge resources and capabilities of a firm has gained currency due ...
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