Resource Based Competitive Advantage
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Some argue that the implementation of a firm's strategy is more important than its strategy. In fact what is often termed a business level strategy is really the identification of the way in which the firm plans on implementing its corporate or generic strategy. Part of this is the way in which the firm will approach its world markets (international, multinational, transnational, global) and how it will design its organization to leverage its resources. This is often called a resource-based approach to strategic management.
See the following article and discuss why you agree or disagree:
Grant, R. M. (1991). The resource-based theory of competitive advantage: implications for strategy formulation (pp. 114-135). California Management Review, University of California.
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Solution Summary
This solution explains why the resource based view of the firm is flawed. The sources used are also included in the solution.
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Step 1
I do not agree with Grant. He says that resources and capabilities of a firm are central considerations in formulating its strategy. This assertion in my opinion is wrong; it is the objectives of a firm that are central considerations in formulating its strategy.
Step 2
If a firm does not have some resources or capabilities these resources or capabilities can be acquired. However, the firm should not compromise on its mission, ...
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