Strategic management

1. Di Presentasikan Oleh:
Damel
Retno Kusuma Bayuningrum

2. Resources Based View of Strategy
Tangible Resources Intagible Resources
Competencies Wernerfelt (1984)
Core Competencies
Mengakses berbagai pasar
Kontribusu signifikan yang dirasakan
pelanggan
Sulit Ditiru
Prahalad dan Hamel (1990)

3. A resource-based view of strategy
analysis R.M. Grant (1991)
4 Strategy
Competitive
3
Advantage
5
2 Capabilities
1 Resources

4. Distinctive Capabilities
Sustainable & Appropriate
A R I
Architecture Reputation Innovation

5. A resource-based view of strategy
analysis R.M. Grant (1991)
4 Strategy
Competitive
3
Advantage
5
2 Capabilities
1 Resources

6. Identifying Sustainable Competitive
Advantage
Value
Rareness
Firm Resources
Heterogenity Sustained
Imperfect Imitability:
Competitive
• History Dependant
Rirm Resource Advantage
• Causal Ambiguity
Immobility
• Social Coomplexity
Imperfect Substitutability
Barney (1991)

7. Resource Orchestration to Create
Competitive Advantage: Breadth,
Depth, and Life Cycle Effects
David G. Sirmon
Michael A. Hitt
R. Duane Ireland
Brett Anitra Gilbert
Texas A&M University

8. Resource Management
defined resource management as the
comprehensive process of:
• structuring,
• bundling, and
• leveraging
the firm’s resources

9. Possessing resources alone does not guarantee
the development of competitive advantage;
instead, resources must be accumulated,
bundled, and leveraged, meaning that the full
value of resources for creating competitive
advantages is realized only when resources
are managed effectively .
(Sirmon & Hitt, 2003; Sirmon, Hitt, & Ireland, 2007).

10. • Structuring the portfolio of resources :
- acquiring,
- accumulating, and
- divesting
• Bundling resources to build capabilities :
- stabilizing,
- enriching, and
- pioneering
• Leveraging capabilities in the marketplace :
- mobilizing,
- coordinating, and
- deploying
to create value (Sirmon, Gove, & Hitt, 2008)

11. Resource Management
(1) managers differ in their resource management
abilities, and these differences matter to firm
outcomes;
(2) the resource management effect is contingent
upon the quality of the focal resources; and
(3) synchronization across processes is vital for
competitive advantage
Holcomb, Holmes, and Connelly’s (2009)

12. Asset Orchestration
Asset orchestration consists of two primary
processes:
• search/selection and
• configuration/deployment
Helfat et al. (2007)

13. David G. Sirmon et al (2010)
Resource
Orchestration
Resource
Structuring Bundling Laveraging
Management
Search/Selection Conviguration/ Deployment Asset
Orchestration
• Identify • Provide Vision
• Invest
• Governance & • Nature Innovation
Organization
Structure • Coordinate Cospecialized
• Business model

14. David G. Sirmon et al (2010)
Resource Management Asset Orchestration
Resource Orchestration
the firm’s the firm’s
breadth depth (levels the firm’s life
(scope of the within the cycle
firm) firm)

15. Resource Orchestration Breadth
Corporate strategies, Business strategies
- Product diversification - Differentiation strategy
- International diversification - Cost leadership strategy
The competitive dynamics in
industries
- Strong competitive rivalry
- Modest competitive rivalry

16. Resource Orchestration & Firm Life
Cycle
• Resource Orchestration in Start-Up Stage
• Resource Orchestration in Mature Stage
• Resource Orchestration in Decline-Stage Firms

17. Resource Orchestration Depth
Helfat et al (2007) nor Sirmon et al (2007)

18. The development of
the resource-based view
of the firm: A critical
appraisal
Andy Lockett,1 Steve Thompson and
Uta Morgenstern

19. Introduction
• Over 20 years - the RBV has reached a pre-
eminent position among theories in the field of
strategy. (theory, method, empirical evidence,
and practical insights)
• A theory about what firms are and how they
function, and that its popularity is due to an
absence of limiting behavioural assumptions.

20. Resources Based View Theory
Resources and Performances:
Resources and The Role of
Sustainable Competitive
Manager
Advantage
Resource Functionalty Resource Recombination
Resource Creation and Decay

21. The RBV Methodological and Practical
Difficulties
vertical integration
First, and perhaps most fundamental, is the issue of tautology Priem and
Butler (2001a,b)
Second, if one assumes (as does Barney 2001a) that the RBV may be
specified in a testable form, any empirical assessment of its predictions
requires the identification and measurement of relevant resources
Third, firm heterogeneity creates problems for researchers who are
interested in generating a homogeneous sample of firms for testing
specific RBV hypotheses. (see Ingham and Thompson 1995)
Fourth, identifying and explaining causal relationships in large firms is
problematic. (Lockett et al. 2008)

22. The RBV Methodological and Practical
Difficulties
vertical integration
Fifth, not merely is agreement on a working definition of ‘competitive
advantage’ itself controversial (Foss and Knudsen 2003; Powell 2001)
Sixth, the logic of the RBV does not predict a universal relationship between
firm performance and any particular resource.
Finally, best practice firm-level empirical work now generally uses first-
differenced panel data sets, usually unbalanced to minimize
selection/survivor biases. Swann (2006)

23. The RBV Empirical Evidance
Resource & Firm Resources and Firm
Performance Development
Product/Service Market
Market Entry
Diversification
Corporate Refocusing
(Market Exit)

24. Practical Insights From The RBV
The suitably selected case can illustrate neatly the successful or
unsuccessful past attempt of some managers to achieve a
winning fit between resources and strategy.
As Donald Rumsfeld opined about the problems facing US
military operations in Afghanistan :
“Reports that say that something hasn’t happened are always
interesting to me, because as we know, there are known
knowns; there are things we know we know. We also know
there are known unknowns; that is to say we know there are
some things we do not know. But there are also unknown
unknowns the ones we don’t know we don’t know”.

25. Practical Insights From The RBV
Finally, there are the unknown unknowns, the products of
unfolding market, technological or other events, whose
manifestation cannot be anticipated and incorporated
in even the most careful scenario planning.
Known knowns are unlikely to enable a firm to
outperform its rivals in the medium to long run unless
there are market impediments that prevent competition
for the underlying resources (this is the genesis of
Barney’s 1991 paper)

26. Practical Insights From The RBV
The approach adopted in this paper is to treat the RBV not
as a theory of firm behaviour but, primarily as a theory
that offers insights about the decision-making
behaviour of managers.
First : managers need to understand what are the strengths and
weaknesses of a firm.
Second : the resource base of the firm is path dependent, i.e. history
matters.
Third : managers need to be able to understand the functionality of their
resources.
Fourth : the resource base of the firm is continuously subject to the
processes of resource creation and decay.
Fifth : acquiring competitive advantage in a resource market is not
possible in the absence of asymmetric information and/or co-
specialized resources with which you are going to augment the new
resources (Denrell et al. 2003)

27. The RBV Looking Forward
First, rather than focusing on the consequences of firm heterogeneity
Dierickx and Cool’s (1989)
Second, more scholarly attention needs to be focused on the neglected
theoretical issue of resource functionality (seeAmbrosini and Bowman
2009)
Third, as the RBV is a theory about what firms are, and does not require a
host of limiting assumptions, it can be deployed with other theories to
explain strategic behaviour. (Gray and Wood 1991)
Finally, scholars need to reflect on their methodological approaches to
empirical research on the RBV.