Firm Resources and Sustained Competitive Advantage
dabznal心gement
1991 Vol. 17 No. 1 99-120
,
,
,
Firm Resources and Sustained
Competitive Advantage
JayBarney
海'xas A&M University
Understanding sources of sustained competitive advantage has become a major area of research in strategic management, Building on the assumptions that strategic resources are heterogeneously distributed across firms and that these d，胡erences are stable over time, this article examines the link betweenfirm resources and sustained conψeti tive advantag，ι Four empirical indicators of t，加 potential of firm resources to generate sustained competitive advantage-value, rareness, imitabili.句 and substitutability--a re discussed. The model is appliedbyana抄'zing the potent，的 lofseveralfirm resourcesfor generating sustained competitive advantage，ι The artic /e concludes by ιmmining implications of this firm resource model of sustained competitive advantage for other business disc妙lines.
Understanding sources of sustained competitive advantage for firms has beof strategic management (porte~ 1985;
Rumelt. 1984). Since the 1960's, a single organizing framework has been used to structure much of this research (Andrews, 1971; Ansoff. 1965; Hofer & Schendel,
1978). 明白 framework， summarized in Figure One, suggests that firms obtain sustained competitive advantages by implementing strategtesthat exploit their iriternal streng血s，也rough responding to environmenta1 opportUn1tie s. while neútiaIizing external 由reats and avoiding internal weaknesses. Most research on sources of sustained competitive advantage has focused either on isolating a firm 's opportunities and threats (Porter, 1980, 1985), describing its strengths and weaknesses
(Hofer & Schendel, 1978; Penrose, 1958; S血chcombe， 1965), or analyzing how these are matched to choose strategies.
Although both internal analyses of organizational s甘'engths and weaknesses comeam吋or area of research 扭曲e field
Discussions with members of the
Stra鉛gic Management Group at 1垠的
1991 Vol. 17 No. 1 99-120
,
,
,
Firm Resources and Sustained
Competitive Advantage
JayBarney
海'xas A&M University
Understanding sources of sustained competitive advantage has become a major area of research in strategic management, Building on the assumptions that strategic resources are heterogeneously distributed across firms and that these d，胡erences are stable over time, this article examines the link betweenfirm resources and sustained conψeti tive advantag，ι Four empirical indicators of t，加 potential of firm resources to generate sustained competitive advantage-value, rareness, imitabili.句 and substitutability--a re discussed. The model is appliedbyana抄'zing the potent，的 lofseveralfirm resourcesfor generating sustained competitive advantage，ι The artic /e concludes by ιmmining implications of this firm resource model of sustained competitive advantage for other business disc妙lines.
Understanding sources of sustained competitive advantage for firms has beof strategic management (porte~ 1985;
Rumelt. 1984). Since the 1960's, a single organizing framework has been used to structure much of this research (Andrews, 1971; Ansoff. 1965; Hofer & Schendel,
1978). 明白 framework， summarized in Figure One, suggests that firms obtain sustained competitive advantages by implementing strategtesthat exploit their iriternal streng血s，也rough responding to environmenta1 opportUn1tie s. while neútiaIizing external 由reats and avoiding internal weaknesses. Most research on sources of sustained competitive advantage has focused either on isolating a firm 's opportunities and threats (Porter, 1980, 1985), describing its strengths and weaknesses
(Hofer & Schendel, 1978; Penrose, 1958; S血chcombe， 1965), or analyzing how these are matched to choose strategies.
Although both internal analyses of organizational s甘'engths and weaknesses comeam吋or area of research 扭曲e field
Discussions with members of the
Stra鉛gic Management Group at 1垠的