2.3.2 The Resource-based View
According to Barney (1991, p.102), “a firm is said to have a competitive advantage when it is implementing a
value-creating strategy not simultaneously being implemented by any current or potential competitors”. He
proposed a framework using four primary attributes – value, rareness, inimitability and non-substitutability.
Subsequently, Peteraf (1993) highlighted four conditions that are necessary to achieve an SCA. They are
resource heterogeneity, resource immobility, ex-ante and ex-post limits to competition. His model was applicable
for single business strategy and diversification.