One of the reasons why the resource-based view is difficult to operationalize derives from a lack of clarity about what 'valuable' means. In this paper we explore the impediments to arriving at a monetary valuation of a resource, and we suggest how resources could be identified within a firm,...

The dynamic capability perspective extends the resource-based view argument by addressing how valuable, rare, difficult to imitate and imperfectly substitutable resources can be created and how the current stock of valuable resources can be refreshed in changing environments. The concept of...