FD mode

Resource-Based View of Firm (RBV) and the Knowledge-Based View (KBV)

In essence, the Resource-Based View of firm (RBV) and the Knowledge-Based View (KBV) are two robust theories in strategic management that are used for determining competitive advantage. The former emphasizes the resources and capabilities that are available to firms and how they can be utilized effectively to gain competitive advantage while the latter emphasizes the knowledge and competence of employees. While the two views may appear to be similar in nature, they do differ in various aspects. This article will explore the differences between the two views in order to provide more clarity and understanding.

At the most basic level, the RBV is focused on what a firm has in terms of resources and capabilities in terms of its tangible and intangible assets. These resources and capabilities can then be utilized to gain competitive advantage such as low cost operations and superior quality products. The KBV, on the other hand, is focused on the human capital in terms of knowledge, experience and skills of the employees. This knowledge can be utilized by the firm to gain competitive advantage through innovation and creativity. The focus is less on tangible resources and more on the intangible aspects.

The RBV and the KBV also differ in terms of the emphasis on the internal and the external environment. The RBV pays more attention to the internal resources and capabilities and the manner in which they are utilized in order to gain a competitive advantage. The influence from the external environment is not focused upon as much. The KBV, however, pays more attention to the external environment and how the knowledge within the firm can be transferred and used to gain a competitive advantage. This entails the ability to identify and integrate new knowledge quickly as well as make use of existing resources in innovative ways.

A third difference between the two views is the emphasis on the hierarchy system within a firm. In the RBV, the hierarchy system is maintained and usually consists of a CEO and other top management personnel. The knowledge of this top tier is utilized to manage the resources effectively and to gain a competitive advantage. The KBV, on the other hand, puts less emphasis on the hierarchy system and instead focuses on the knowledge that is available at all levels of the firm. This allows for knowledge sharing and transfer from the lower level employees to the top management personnel.

Finally, the RBV and the KBV also differ in terms of their focus on the long-term and short-term strategies. The RBV places more emphasis on the long-term strategies such as the acquisition of new capital and other resources in order to gain a competitive advantage. The KBV, while it still places importance on the long-term strategies, also places more emphasis on the short-term strategies such as the ability to develop new products quickly.

In conclusion, the Resource-Based View of firm (RBV) and the Knowledge-Based View (KBV) are two robust theories in strategic management that are used for determining competitive advantage. While there are some similarities between the two views, there are also key differences that need to be identified and understood in order to make the most effective use of the relevant theories. The RBV focuses on the tangible resources and capabilities that are available to firms, the external environment, and the hierarchy system, while the KBV focuses on the knowledge, experience and skills of the employees, the external environment, and short-term strategies.

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