Although the resource-based view has principally
been employed in the study of above-normal performance,
it is instructive to apply its tenets in the context
of below-normal performance. Superior performance is
more likely when resources and capabilities are aligned
with strategic industry factors-characteristics of the
competitive environmenthat are determinants of firmlevel
profitability (Amit and Schoemaker 1993). Conversely,
we suggest that failure is more likely when there
is misalignment between what a firm can do and what
the competitive environment require