Please see the response attached (also presented below), as well as one highly relevant article.
Q1: What is the relevance of the resource-based view of the firm to strategic management in a global environment?
Strategic global management is concerned with issues affecting the relationship between the organisation and its global environment. The resource-based view (RBV) holds that firms can earn sustainable supra-normal returns if and only if they have superior resources and some form of isolating mechanism preventing their diffusion throughout the industry protects those resources. In other words, RBV is relevant to the global environment, for analysing performance in international markets (Hooley et al 1996, as cited in http://www.valuebasedmanagement.net/methods_barney_resource_based_view_firm.html)) and for describing dimensions of positioning strategy, as well as a theoretical model to for competitive advantage. Lets' look at each a bit closer. RBV emphasizes strategic choice, charging the global firm's management with the important task of identifying, developing and deploying key resources to maximize returns. In fact, RBV (Barney, 1991, as cited in http://www.valuebasedmanagement.net/methods_barney_resource_based_view_firm.html) provides four empirical indicators of the potential firm resources generate sustained ...
This solution explains the relevance of the resource-based view of the firm to strategic management in a global environment. Supplemented with a highly informative article in 709 words with one reference for further inquiry.