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| Author: | Grant, R. M. |
| Title: | The resource-based theory of competitive advantage: implications for strategy formulation |
| Journal: | California Management Review
1991 : SPRING, VOL. 33:3, p. 114-135 |
| Index terms: | COMPETITIVENESS STRATEGIC PLANNING STRATEGIC MANAGEMENT FIRM (THEORY OF) PROFITABILITY |
| Language: | eng |
| Abstract: | Recent contributions to strategic management and the theory of the firm collectively known as the "resource-based view of the firm" provide illuminating insights into the sources of profitability and the nature of competitive strategy. Arguments are presented that internal resources rather than the market environment should provide the foundation for a firm's strategy. On the basis of an analysis of the relationships among resources, capabilities, competitive advantage, and profitability, a framework for a resource-based approach to strategy formulation is developed. |
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