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Strategic management
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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.