Abstract
Abstract This paper elucidates the underlying economics of the resource‐based view of competitive advantage and integrates existing perspectives into a parsimonious model of resources and firm performance. The essence of this model is that four conditions underlie sustained competitive advantage, all of which must be met. These include superior resources (heterogeneity within an industry), ex post limits to competition, imperfect resource mobility, and ex ante limits to competition. In the concluding section, applications of the model for both single business strategy and corporate strategy are discussed.
Keywords
Competitive advantageCompetition (biology)Resource (disambiguation)Industrial organizationEx-anteBusinessResource-based viewEconomicsImperfectImperfect competitionMicroeconomicsComputer scienceMarketingEcology
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Publication Info
- Year
- 1993
- Type
- article
- Volume
- 14
- Issue
- 3
- Pages
- 179-191
- Citations
- 10425
- Access
- Closed
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Cite This
Margaret A. Peteraf
(1993).
The cornerstones of competitive advantage: A resource‐based view.
Strategic Management Journal
, 14
(3)
, 179-191.
https://doi.org/10.1002/smj.4250140303
Identifiers
- DOI
- 10.1002/smj.4250140303