The purpose of this article is to identify and discuss the practical implications of the resource based view of the firm.
Review of relevant literature.
A number of recommendations are put forward and the practical implications constitute the main findings of this study.
The implications can be summarized by these recommendations: diversify based on capabilities and not on the markets you are currently serving, focus on creating value together with your customers based on your resources instead of offering a set of products, integrate HRM practices with strategic management processes. The complexity of imitating resources is also discussed.
Few publications have set out to develop implications of the resource‐based view from a CEO's point of view. This paper provides an easy‐to‐access review and summary of some of the main implications of the resource‐based view.
