Issue 3, 2003

Grant R. M. The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation

This article became a classic of the resource-based approach in strategic management. For the first time the conceptual terminology and main propositions of the approach were explained so clearly and consistently. Concepts and features of resources and capabilities were discussed, and their part in gaining and sustaining competitive advantage was analyzed in details. In conclusion some applications for managers were given. The article provided striking examples from business experience.

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