Resource-Based View
The Resource-Based View (RBV) is a management theory that emphasizes the importance of a firm's internal resources and capabilities in achieving competitive advantage. It suggests that unique resources, such as skilled employees, proprietary technology, and strong brand reputation, can lead to superior performance compared to competitors.
According to RBV, not all resources are equally valuable; they must be valuable, rare, inimitable, and non-substitutable to provide a sustainable edge. This perspective encourages companies to focus on developing and leveraging their unique assets, rather than solely competing on external factors like market conditions or pricing strategies.