Resource Question and answers already passed 2024/2025

Resource-Based View
RBV's Makadok Research Questions - correct answer ✔How do firms
behave?
-- Firms behave in a manner to preserve and strengthen internal resources to
create sustained competitive advantage
Why do firms differ in their resources or performance?
-- Barney specifies the conditions under which firm resources can be a source
of sustained competitive advantage for a firm and outlines a framework
(VRIN) for determining resource attributes and characteristics that lead to a
sustained competitive advantage


RBV's Research Question - correct answer ✔What is the link between firm
resources and sustained competitive advantage?
Barney specifies the conditions under which firm resources can be a source of
sustained competitive advantage for a firm and outlines a framework (VRIN)
for determining resource attributes and characteristics that lead to a sustained
competitive advantage


VRIN tests for sustainable competitive advantage - correct answer ✔ask if a
resource is Valuable, Rare, Inimitable, and Non-substitutable.


Valuable - correct answer ✔-Valuable if strengthen strategy improving
efficiency and effectiveness
-Value demonstrates complementarity between environment model and
resource-based model. Environmental "models help isolate those firm
attributes that exploit opportunities and/or neutralize threats, and thus specify
which firm attributes can be considered as resources. The resource-based
model then suggest what additional characteristics that these resources must
possess if they are the generate sustained competitive advantage." (Barney,
1991, p106)