The Development of the Resource-Based View of the Firm: A Critical Appraisal

20 Pages Posted: 17 Jan 2009

See all articles by Andy Lockett

Andy Lockett

Nottingham University Business School (NUBS)

Uta Morgenstern

Nottingham University Business School (NUBS)

Steve Thompson

Nottingham University Business School (NUBS)

Abstract

Over the last 20 years, the resource-based view (RBV) has reached a pre-eminent position among theories in the field of strategy, but debate continues as to its precise nature. This paper contributes to the debate by critically reviewing the development of the RBV to date. The critical appraisal examines the development of the RBV in terms of theory, method, empirical evidence and practical insights. It is contended that the permeable and eclectic nature of the RBV stems from its being a theory about what firms are and how they function, and that its popularity is due to an absence of limiting behavioural assumptions. Finally, the authors provide their own subjective views on where they think RBV scholars should focus their efforts in the future.

Suggested Citation

Lockett, Andy and Morgenstern, Uta and Thompson, R.S., The Development of the Resource-Based View of the Firm: A Critical Appraisal. International Journal of Management Reviews, Vol. 11, Issue 1, pp. 9-28, March 2009, Available at SSRN: https://ssrn.com/abstract=1327424 or http://dx.doi.org/10.1111/j.1468-2370.2008.00252.x

Andy Lockett (Contact Author)

Nottingham University Business School (NUBS) ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom

Uta Morgenstern

Nottingham University Business School (NUBS) ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom

R.S. Thompson

Nottingham University Business School (NUBS) ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom

HOME PAGE: http://www.nottingham.ac.uk/cgi-bin/directory_lookup.cgi?surname=Thompson&initials=&number=&departme

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