Resource-based view of the firm and competitive advantage

The resource-based view (RBV) of the firm offers a further perspective to marketing strategists that concentrates on key resources of the firm and how they might influence sustainable competitive advantage (SCA), rather than the industry perspective more often applied by marketers. In this paper it is argued that the model developed by Fahy (2000) offers a concise picture of the elements that impact on the firm which can be further developed to explain competitive advantage. A research approach using an interview schedule is proposed as an appropriate methodology by which to explore the key intangible assets and capabilities (key resources) and the process by which high performing firms identify, develop, deploy and protect their key resources in sustaining competitive advantage. The outcomes of studies based on this research question have implications not only for the debate over the role of industry structure versus key resources in explaining a SCA, but for marketing strategists who seek every opportunity to manipulate and manage the variables that influence competitive advantage.