Managing Firm Resources in Dynamic Environments to Create Value: Looking Inside the Black Box

Sirmon, David G.; Hitt, Michael A.; Ireland, R. Duane

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Managing Firm Resources in Dynamic Environments to Create Value: Looking Inside the Black Box

Academy of Management Review, Vol. 32, No. 1, 2007

21 Pages Posted: 14 Feb 2009

See all articles by David G. Sirmon

Michael A. Hitt

Texas A&M University - Department of Management; Texas Christian University

R. Duane Ireland

Texas A&M University - Department of Management

Date Written: February, 13 2009

Abstract

We address current criticisms of the RBV (oversight of dynamism, environmental contingencies, and managers' role) by linking value creation in dynamic environmental contexts to the management of firm resources. Components of the resource management model include structuring the resource portfolio; bundling resources to build capabilities; and leveraging capabilities to provide value to customers, gain a competitive advantage, and create wealth for owners. Propositions linking resource management and value creation are offered to shape future research.

Keywords: Resource management, RBV, environment

Suggested Citation: Suggested Citation

Sirmon, David G. and Hitt, Michael A. and Ireland, R. Duane, Managing Firm Resources in Dynamic Environments to Create Value: Looking Inside the Black Box (February, 13 2009). Academy of Management Review, Vol. 32, No. 1, 2007, Available at SSRN: https://ssrn.com/abstract=1342630