Chapter 3

Question 1

The research-based view of the firm exists of

Answer 1

Resources: tangible and intangible assets that a firm controls to conceive and implement its strategies
Capabilities: subset of the tangible and intangible assets of the firm that enables a firm to take full advantage of the other resources it controls.

Question 2

There are 4 types of resources

Answer 2

1. Physical resources
2. individual/Human resources
3. Organizational resources
4. Financial resources
   + 5. Intellectual property

Question 3

To outperform other firms you need to:

Answer 3

1. Resource heterogeneity

2. Resource immobility

Question 4

To check if a resource or capability can determine its competitive potential it is….

Answer 4

important to use the VRIO framework

Question 5

Imitability

Answer 5

1. Unique historical conditions
2. Causual ambiguity
3. Social complexity
4. Patents

Question 6

Organization

Answer 6

Formal reporting structure
Formal and informal management control
Compensation policies