chapter 4
The resource-based view
The resource-based view takes the firm itself as the starting point for strategic thinking. It has branched out into a static resource-based view and a dynamic resource-based view. While the static resource-based view complements marketing-inspired strategic thinking and the industrial organization approach, the dynamic resource-based view was intentionally pitted against these two theoretical approaches.
The origin of the resource-based view is traced back to the economist Edith Penrose (1959), but not until a paper by Birger Wernerfelt (1984) was published was the relevance of her work for strategy theory recognized. The resource-based view starts with the economist’s definition of the firm as a production ...
