Question

______ are any assets that a firm can draw on when formulating and implementing a strategy.

Answer 1

Resources are any assets that a firm can draw on when formulating and implementing a strategy.

Resource based view is strategy based model that considers an organization's resources as a key to sustainable competitive advantage. The supporters suggests that a firm should look inside the company to find the sources of competitive advantage, instead of looking at the external competitive environment.

  According to the Resource based view there are two types of resources: Tangible assets and intangible assets. Tangible assets are physical things such as land, building, machinery, equipment etc. Organizations can easily acquire them in market, so they confer little advantage. Intangible are assets that have no physical presence, such as brand reputation, trademark, etc. They play a significant role in sustaining of a firm as its competitors can't acquire these internal assets.

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