Research Agenda in The Resource Based View of the Firm

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Presentation transcript:

Research Agenda in The Resource Based View of the Firm Bulent Menguc Brock University

The Resource Based View of the Firm A firm’s valuable, rare, socially complex, and inimitable resources generate a competitive advantage and, thereby, an above-normal rate of return. Thus, the heterogeneity of resources across firms explains their comparative differences in competitive advantage in the marketplace.

Multidisciplinary Literature Management Barney (1991, JoM) Wernerfelt (1984, SMJ) Marketing Day and Wensley (1988, JM) Hunt and Morgan (1995, 1996; JM)

Type of Resources Tangible Intangible Examples: product/process inputs, facilities, locations, patents, and technological equipment Characteristic: protected from imitation by property rights Intangible Examples: discrete or systemic knowledge-based Characteristics: protected from imitation by knowledge barriers between competitors allow firms to add value to their tangible resources

Dynamic Capabilities Perspective (Complementarity of Resources) Question: Why are some firms, despite the relatively superior resources they possess, not able to sustain their competitive advantage over time, especially in dynamic markets? Answer: Some firms are more able to transform their resources into dynamic capabilities, especially in turbulent markets. If so, HOW?

Critical Aspects of the RBV Proposition 1: Bharadwaj, Varadarajan, and Fahy (1993, JM) Day and Wensley (1988, JM) Resource Complementarities Dynamic Capabilities Competitive Advantage Research - Bhuian, Menguc, and Bell (2005, JBR) - Menguc and Barker (2005, EJM) - Menguc and Ozanne (2005, JBR) - Menguc and Auh (2006, JAMS) - Auh and Menguc (2006, JBR)

Critical Aspects of the RBV Proposition 2: Lado and Wilson (1994, AMR) Resource Complementarities Internal Environment Dynamic Capabilities Competitive Advantage Research - Auh and Menguc (2005, IMM) - Auh and Menguc (forthcoming, IMM)

Critical Aspects of the RBV Proposition 3: Day and Wensley (1988, JM) Resource Complementarities Dynamic Capabilities Positional Advantages Competitive Advantage Internal Environment Business Strategy Research - Cousins and Menguc (2006, JOM) - Menguc, Auh, and Shih (under review, JBR) - Menguc and Auh (work in progress)