The Resource-Based View
15 important questions on The Resource-Based View
What are examples of Tangible Resources?
- Buildings
- Capital
- Equipment
-Plant
- Supplies
-Labor
-Land
What are examples of Intangible Resources?
- Brand Equity
- Culture
- Intellectual Property
- Knowledge
- Reputation
What is Resource Heterogeneity?
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What are the different criteria of The VRIO Framework?
Rare
Icostly to Imitate
Organised to capture the value of the resource
VRIO FRAMEWORK: Valuable
VRIO FRAMEWORK: Rare
! If the resource is common it results in perfect competition and no firm is able to maintain a competitive advantage !
A resource that is NOT rare but is valuable can lead to competitive parity (at best)
VRIO FRAMEWORK: Costly To Imitate
What is Direct Imitation?
Example: patents or trademarks
What if firms combine Direct Imitation and Substitution?
VRIO FRAMEWORK: Organised to Capture Value
What are Isolating mechanisms?
What is Causal Ambiguity?
What is Social Complexity?
What is Intellectual Property Protection?
xxx
IPP can make direct imitation difficult
What are 5 Major forms of IP Protection?
- Designs
- Copyrights
- Trademarks
- Trade secrets
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