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The resource‐based view (RBV) of the firm is a theory that has been explored in academic literature as a means of explaining competitive advantage and, in turn, superior performance amongst firms. In this paper it is argued that the model developed by Fahy offers a concise picture of the nature and role of key resources in strategic management but this picture needs further empirical development. A research approach based on a face‐to face interview is used to explore the process by which a high‐performing firm in the financial services industry in Australia identifies, develops, deploys and protects its key intangible assets and capabilities in sustaining competitive advantage.

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