Critically review how the resource-based view has developed our understanding of strategy.

More about the book

Focusing on the ambiguity surrounding the definition and implementation of strategy, this seminar paper explores how businesses aim to maximize profit through competitive advantage. It emphasizes that strategy serves as a framework for managing and directing a business within its environment to achieve a favorable market position. Citing influential theorists like Rumelt and Porter, the paper highlights the importance of strategic management in navigating competition and enhancing profitability.