The resource-based view

The resource-based view takes the firm itself as the starting point for strategic thinking. It has branched out into a static resource-based view and a dynamic resource-based view. The origin of the resource-based view is traced back to the economist Edith Penrose. Static resource-based view strategic thinking concentrates on identifying these VRIN routines by probing the existence of core capabilities. The dynamic resource-based view is based on the other reason for firm heterogeneity. Firms differ owing to unique trajectories of resource accumulation that occur within the confines of a firm. A specific branch of the resource-based view has singled out knowledge as the key resource on which everything else hinges. The static resource-based view allows for an extra qualification of the success factors of marketing-inspired strategic thinking or the value chain activities of the industrial organization approach.