Based ViewResources

Di Presentasikan Oleh:Damel

Retno Kusuma Bayuningrum

Resources Based View of Strategy

Tangible Resources Intagible Resources

Competencies

Core Competencies Mengakses berbagai pasar Kontribusu signifikan yang dirasakan

pelanggan Sulit Ditiru

Prahalad dan Hamel (1990)

Wernerfelt (1984)

A resource-based view of strategy analysis R.M. Grant (1991)

Resources

Capabilities

Competitive Advantage

Strategy

1

2

3

4

5

IRA

Distinctive CapabilitiesSustainable & Appropriate

Architecture Reputation Innovation

A resource-based view of strategy analysis R.M. Grant (1991)

Resources

Capabilities

Competitive Advantage

Strategy

1

2

3

4

5

Identifying Sustainable Competitive Advantage

Firm Resources Heterogenity

Rirm Resource Immobility

Value

Rareness

Imperfect Imitability:• History Dependant• Causal Ambiguity• Social Coomplexity

Imperfect Substitutability

Sustained Competitive Advantage

Barney (1991)

Resource Orchestration to CreateCompetitive Advantage: Breadth, Depth, and Life Cycle Effects

David G. SirmonMichael A. HittR. Duane IrelandBrett Anitra Gilbert

Texas A&M University

Resource Management

defined resource management as the comprehensive process of:• structuring, • bundling, and• leveraging

the firm’s resources

Possessing resources alone does not guarantee the development of competitive advantage; instead, resources must be accumulated, bundled, and leveraged, meaning that the full value of resources for creating competitive advantages is realized only when resources are managed effectively .

(Sirmon & Hitt, 2003; Sirmon, Hitt, & Ireland, 2007).

• Structuring the portfolio of resources : - acquiring, - accumulating, and - divesting

• Bundling resources to build capabilities :- stabilizing,

- enriching, and - pioneering

• Leveraging capabilities in the marketplace :- mobilizing, - coordinating, and - deploying

to create value (Sirmon, Gove, & Hitt, 2008)

Resource Management

(1) managers differ in their resource management abilities, and these differences matter to firm outcomes;

(2) the resource management effect is contingent upon the quality of the focal resources; and

(3) synchronization across processes is vital for competitive advantage

Holcomb, Holmes, and Connelly’s (2009)

Asset Orchestration

Asset orchestration consists of two primary processes:• search/selection and • configuration/deployment

Helfat et al. (2007)

Resource Orchestration

Structuring Bundling

Search/Selection

• Identify• Invest• Governance & Organization Structure• Business model

Laveraging

Conviguration/ Deployment

• Provide Vision

• Nature Innovation

• Coordinate Cospecialized

Asset Orchestration

Resource Management

David G. Sirmon et al (2010)

Resource Management Asset Orchestration

Resource Orchestration

the firm’s breadth

(scope of the firm)

the firm’s depth (levels

within the firm)

the firm’s life cycle

David G. Sirmon et al (2010)

Resource Orchestration Breadth

Corporate strategies,

- Product diversification

- International diversification

Business strategies

- Differentiation strategy

- Cost leadership strategy

The competitive dynamics in

industries

- Strong competitive rivalry

- Modest competitive rivalry

Resource Orchestration & Firm Life Cycle

• Resource Orchestration in Start-Up Stage• Resource Orchestration in Mature Stage• Resource Orchestration in Decline-Stage Firms

Resource Orchestration Depth

Helfat et al (2007) nor Sirmon et al (2007)

The development ofthe resource-based viewof the firm: A criticalappraisal

Andy Lockett,1 Steve Thompson andUta Morgenstern

Introduction

• Over 20 years - the RBV has reached a pre-eminent position among theories in the field of strategy. (theory, method, empirical evidence, and practical insights)

• A theory about what firms are and how they function, and that its popularity is due to an absence of limiting behavioural assumptions.

Resources Based View Theory

Resources and Performances: Sustainable Competitive

Advantage

Resources and The Role of Manager

Resource Functionalty

Resource Creation and Decay

Resource Recombination

The RBV Methodological and Practical Difficulties

vertical integration

First, and perhaps most fundamental, is the issue of tautology Priem and Butler (2001a,b)

Second, if one assumes (as does Barney 2001a) that the RBV may be specified in a testable form, any empirical assessment of its predictions requires the identification and measurement of relevant resources

Third, firm heterogeneity creates problems for researchers who are interested in generating a homogeneous sample of firms for testing specific RBV hypotheses. (see Ingham and Thompson 1995)

Fourth, identifying and explaining causal relationships in large firms is problematic. (Lockett et al. 2008)

The RBV Methodological and Practical Difficulties

vertical integration

Fifth, not merely is agreement on a working definition of ‘competitive advantage’ itself controversial (Foss and Knudsen 2003; Powell 2001)

Sixth, the logic of the RBV does not predict a universal relationship between firm performance and any particular resource.

Finally, best practice firm-level empirical work now generally uses first-differenced panel data sets, usually unbalanced to minimize selection/survivor biases. Swann (2006)

The RBV Empirical Evidance

Resource & Firm Performance

Resources and Firm Development

Market Entry

Corporate Refocusing(Market Exit)

Product/Service Market Diversification

Practical Insights From The RBV

The suitably selected case can illustrate neatly the successful or unsuccessful past attempt of some managers to achieve a winning fit between resources and strategy.

As Donald Rumsfeld opined about the problems facing US military operations in Afghanistan :

“Reports that say that something hasn’t happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns the ones we don’t know we don’t know”.

Practical Insights From The RBV

Finally, there are the unknown unknowns, the products of unfolding market, technological or other events, whose manifestation cannot be anticipated and incorporated in even the most careful scenario planning.

Known knowns are unlikely to enable a firm to outperform its rivals in the medium to long run unless there are market impediments that prevent competition for the underlying resources (this is the genesis of Barney’s 1991 paper)

Practical Insights From The RBV

The approach adopted in this paper is to treat the RBV not as a theory of firm behaviour but, primarily as a theory that offers insights about the decision-making behaviour of managers.

First : managers need to understand what are the strengths and weaknesses of a firm.

Second : the resource base of the firm is path dependent, i.e. history matters.Third : managers need to be able to understand the functionality of their

resources.Fourth : the resource base of the firm is continuously subject to the

processes of resource creation and decay.Fifth : acquiring competitive advantage in a resource market is not possible

in the absence of asymmetric information and/or co-specialized resources with which you are going to augment the new resources (Denrell et al. 2003)

The RBV Looking ForwardFirst, rather than focusing on the consequences of firm heterogeneity

Dierickx and Cool’s (1989)

Second, more scholarly attention needs to be focused on the neglected theoretical issue of resource functionality (seeAmbrosini and Bowman 2009)

Third, as the RBV is a theory about what firms are, and does not require a host of limiting assumptions, it can be deployed with other theories to explain strategic behaviour. (Gray and Wood 1991)

Finally, scholars need to reflect on their methodological approaches to empirical research on the RBV.