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Questions and Answers
According to the resource-based view (RBV) of strategy, what explains the competitive advantage and superior performance of an organization?
According to the resource-based view (RBV) of strategy, what explains the competitive advantage and superior performance of an organization?
What are resources in the RBV framework?
What are resources in the RBV framework?
What are competences in the RBV framework?
What are competences in the RBV framework?
What is dynamic capability in the RBV framework?
What is dynamic capability in the RBV framework?
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What can happen to capabilities that were effective in the past?
What can happen to capabilities that were effective in the past?
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Study Notes
Resource-Based View (RBV) of Strategy
- Competitive advantage and superior performance of an organization are explained by the unique bundle of resources and capabilities it possesses.
Resources in RBV Framework
- Resources are tangible and intangible assets that an organization owns or controls, such as physical assets, human resources, financial resources, and organizational capabilities.
- Resources can be categorized as:
- Tangible resources (e.g., equipment, buildings, and financial assets)
- Intangible resources (e.g., knowledge, skills, and reputation)
Competences in RBV Framework
- Competences refer to the ability of an organization to utilize its resources effectively and efficiently to achieve its goals.
- Competences are often rooted in the skills, knowledge, and experience of an organization's employees.
Dynamic Capability in RBV Framework
- Dynamic capability refers to an organization's ability to reconfigure and adapt its resources and competences in response to changing environmental conditions.
- Dynamic capability enables an organization to maintain its competitive advantage over time.
Limitations of Capabilities
- Capabilities that were effective in the past may become obsolete or less effective over time due to changes in the environment, market, or technology.
- An organization's inability to adapt its capabilities to changing circumstances can lead to a decline in its competitive advantage and performance.
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Description
Test your knowledge of the resource-based view (RBV) of strategy and how it relates to competitive advantage and superior performance. Explore the concepts of resources and competences and understand how they contribute to organizational success.
