RESOURCE BASED FIRM

A resource based view of the firm



A resource based view of the firm

Summary of the Article

An firm consists of a frame (structure), some possessions (resources and capabilities), an ability to undertake activities (processes) and ability to react to environment surrounding in it and control the activities it takes in order to ensure its survival as efficiently as possible (performance). Firms originate at a point in time (birth), develop and attain a shape (growth), continue in this world for a period of time battling the environment (sustenance) and finally may become nonexistent (death) either through dissolution or integration into ...