Resource Based View of the Firm: The Nature of Resources Required for Competitive Advantage

In the field of management during the last three decades the concept of competitive advantage has remained the focal point of the firms. Firms always remained inquisitive to attain and sustain the competitive advantage. The resource based view (RBV) has made a great contribution towards attaining and sustaining the competitive advantage. Researchers agree that the firms having rare, valuable, inimitable, and non-substitutable resources always triumph the competitive advantage. RBV has its due implications in the fields of marketing, HRM, corporate governance, international business, and entrepreneurship.