Resource title

The Resource-Based Perspective: - An Assessment and Diagnosis of Problems

Resource image

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Resource description

The resource-based approach to strategy, which reaches back to the contributions of Penrose,Selznick and Chandler, has gradually become the dominant perspective in strategy (content)research, arguably because it combines realism with relative rigour. The present paper presentsthe main themes of the contemporary version of the resource-based perspective (Wernerfelt,Rumelt, Barney....) and diagnoses a number of problems, such as the lack of a clear terminology,unclarity as to what really is the unit of analysis, the role of the environment, and the seeminglydifferent versions that exist of the perspective. The perhaps deepest problem, however, is the lackof theorizing with respect to the creation of new resources, which tends to give the perspectivea retrospective character and makes its application to managerial practice. It is suggested thatresource-based scholars may draw upon work relating to real options, complementarities andorganizational learning if they wish to remedy this deficiency.

Resource author

Nicolai J. Foss

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Resource publish date

Resource language

eng

Resource content type

application/pdf

Resource resource URL

http://hdl.handle.net/10398/8117

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