The Resource-Based View of the Firm

Véronique Ambrosini

Chapter 1 in Tacit and Ambiguous Resources as Sources of Competitive Advantage, 2003, pp 3-8 from Palgrave Macmillan

Abstract: Abstract Until the early 1980s strategic management was strongly informed by neoclassical economics, and notably the structure-conduct-perform- ance paradigm of industrial organisation economics (IO) (Caves and Porter, 1977; Caves, 1980; Porter, 1980). Broadly speaking the main thesis of IO is that competitive advantage derives from a privileged market position. It argues that the prime determinant of a firm’s performance is its external environment - the structure of the industry to which it belongs. In other words, according to the IO perspective the source of a firm’s profits is its market position, protected by barriers to entry into the market.

Keywords: Competitive Advantage; Tacit Knowledge; Strategic Management; Neoclassical Economic; Sustainable Competitive Advantage (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1057/9781403948083_1

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