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

2. 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.

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

4. 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

5. 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?

6. 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)

7. 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)

8. 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)