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Strategic Management: Resource Based View

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What is the relevance of the resource-based view of the firm to strategic management in a global environment?

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Solution Summary

In 396 words, this solution explains resource-based view and contrasts it to Porter's Model.

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Resource-Based Theory

The currently dominant view of business strategy - resource-based theory or resource-based view (RBV) of firms - is based on the concept of economic rent and the view of the company as a collection of capabilities. This view of strategy has a coherence and integrative role that places it well ahead of other mechanisms of strategic decision making.

Traditional strategy models such as Michael Porter's ...

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