Articlegold2019

The resource-based view: a tool of key competency for competitive advantage

113 citations0/0 files storedProblems and Perspectives in Management

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Innovation and Knowledge Management Management and Organizational Practices Intellectual Capital and Performance Analysis

Abstract

The increasing turmoil in the external organizational setting or business environment has focused attention on capabilities and resources as the primary source of competitive advantage. Obviously, this statement points to the application of the resource-based view (RBV) of organizational management. Nevertheless, what constitutes RBV remains an illusion in many quarters of organizational management, as scholars have managed to put up their personal ideas, and managed to converge on phenomenon-driven theories, in addition to RBV. This paper reviews the concepts of RBV in light of knowledge management to highlight some critical pitfalls that might have eluded the research community on the subject matter of RBV. To this end, this paper’s educational value lies in the fact that it simplifies the concept of RBV to the new researcher in a fashion that is capable of appealing to his or her level. A cross-sectional qualitative research approach was employed in an effort aimed at understanding the role of RBV in creating a sustainable competitive advantage and key competencies. A total of 20 relevant articles were searched from different databases and search engines, including Scopus, EBSCO, ABI Inform, IEEE, PubMed, Science Direct, SABINET, IEEE, Bing, Science Direct, and Google Scholar. The findings indicate that RBV plays an important role and assists organizations not only create, nurture, and maintain competitive advantage, but also understand the collective resources needed to compete favorably in a globalized and highly competitive market. With expert knowledge workers at its core to provide support for knowledge creation, sharing, and utilization, the RBV principles discussed in this paper promise to guarantee a methodological step geared towards the achievement of competitive advantage. It, therefore, makes an incremental contribution to the RBV to attain modest improvement in organizational settings.

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References

1984A resource‐based view of the firm 1995The Knowledge-Creating Company 1998The Knowledge-Creating Company 1989Asset Stock Accumulation and Sustainability of Competitive Advantage 2001Knowledge and Organization: A Social-Practice Perspective 2006Communities of Practice: The Organizational Frontier 1995Knowledge, Knowledge Work and Organizations: An Overview and Interpretation 2002THE COMPETITIVE ADVANTAGE OF INTERCONNECTED FIRMS: AN EXTENSION OF THE RESOURCE-BASED VIEW.

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