OVERVIEW Effective human resource management is undoubtedly critical to the success of virtually all firms. Thus its importance is huge in the study of business strategy; which is the system of the firm’s important choices that are critical to the firm’s survival and relative success (Boxall and Purcell 2003). Getting more specific‚ strategic human resource management as a field of study is concerned with the strategic choices associated with the use of labour in firms and with explaining why
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profit and risk: accounting and the resource-based view of the firm Steven Toms The York Management School‚ University of York‚ Heslington‚ UK Abstract Purpose – This paper aims to argue that the principal components of the Resource-Based View (RBV) as a theory of sustained competitive advantage are not a sufficient basis for a complete and consistent theory of firm behaviour. Two missing elements are value theory and accountability mechanisms. Design/methodology/approach – The paper proposes a
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evolutionary emphasis is on variation. In high-velocity markets‚ it is on selection. At the level of RBV‚ we conclude that traditional RBV misidentifies the locus of long-term competitive advantage in dynamic markets‚ overemphasizes the strategic logic of leverage‚ and reaches a boundary condition in high-velocity markets. Copyright © 2000 John Wiley & Sons‚ Ltd. The resource-based view of the firm (RBV) is an influential theoretical framework for understanding how competitive advantage within firms is
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Management and HRM‚ what we know‚ and future directions for SHRM research. We will begin by briefly discussing the concept of strategy and the popularization of the resource-based view (RBV) of the firm. Next we will address its role in creating the link between HRM and Strategic Management including key questions that the RBV has raised in relation to SHRM. We will then examine the current state of affairs in SHRM; the progress made‚ and key questions and concerns occupying the attention of SHRM researchers
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Management Sciences Laboratory‚ Athens University of Economics and Business ABSTRACT Over the last years the resource-based view (RBV) of strategic management has attracted wide academic and managerial attention. Drawing on RBV literature‚ this paper analyses the interrelationships between RBV and organizational innovation. We examine those aspects of RBV that critically determine the firm’s capacity to innovate by integrating the relevant theoretical and empirical evidence. A number of
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In the last two decades‚ one of the most fundamental questions emerging in strategic management is how firms achieve and sustain competitive advantage. In a simplified world‚ understanding how firms achieve and maintain superior or abnormal returns means comprehending how firms position themselves in a certain market‚ what they produce and how they use resources at their disposal to do so. In this sense we may distinguish between the positional perspective‚ developed by Michael Porter‚ according
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between the resourced based view of strategy and the industrial organisation (I/O) based view of strategy The similarities and differences between the two views of strategy‚ resource-based view (RBV) and industrial organization (I/O) view will be critically discussed. According to Hanson‚ et al. (2011)‚ the RBV model specifies a firm’s strategy internally to earn above-average returns based on its unique resources and capabilities. Resources such as capital equipments‚ individuals’ skills‚ patents and
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Value-Chain Analysis to Identify Resources and Capabilities at Under Armour The resource-based view (RBV) of a firm lies primarily in the application of bundle of valuable interchangeable and intangible or tangible resources at the firm’s disposal. For a firm to transform a short-run competitive advantage into a sustained competitive advantage requires these resources be heterogeneous and immobile. This is perhaps the biggest struggle Under Armour faces – the challenge of maintaining a differentiated
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market competitors who are Rolls Royce‚ General Electric and Pratt & Whitney. The resource based view (RBV) approach to strategy represents a substantial shift in emphasis towards the individual resources of an organisation and away from the market-based view that strategists such as Professor Michael Porter favoured during the 1980s and early 1990s. The fundamental principle of the RBV is that the basis for a competitive advantage of a firm lies primarily in the application of the bundle of
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Summary of The Dynamic Resource-based View: Capability Lifecycles In recent years‚ the dynamic resource-based view (RBV) has attracted more and more attention. By definition‚ the dynamic RBV is designed to deal with resources and capabilities over time. This article introduces the concept of the capability lifecycle (CLC)‚ and the CLC provides a comprehensive framework for the dynamic RBV of the company. The CLC refers to a general pattern and paths in the development of an organizational capability
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