What is the relevance of the resource-based view for management in a global market
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What is the relevance of the resource-based view of the firm to strategic management in a global environment?
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In a 360 word response, the solution presents a understandable view to the relevance of a resource-based view.
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The unique assets and capabilities of firms are important factors giving rise to imperfect competition and the attainment of super-normal profits. The resource based view states that firms can earn sustainable supra-normal returns if and only if they have superior resources and those resources are protected by some form of isolating mechanism preventing their diffusion throughout industry. Therefore, the resource based view emphasizes strategic choice, charging the firm's management with the important tasks of identifying, developing and deploying key resources to maximize returns.
The resource-based view of the ...
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