1. Resource-Based Theory and Commitment
Resource-based theory makes up for the weak point of Porter’s
industrial structural viewpoint and it explains that unique resources and
capability which firms have are regarded as the factors which have an
influence on performance. This means that a competitive advantage is
started from their resources and capability at a corporate level.
According to Barney and Peteraf, two suppositions of resource-based
theory are heterogeneity and difficulty of movement concerned with
characteristics of resources. Heterogeneity means that even though firms
have discriminative resources and capability, these are easily imitated by
competitors if they are not heterogeneous. In this situation, it is difficult
for firms to keep a competitive advantage. Hence, heterogeneous resources
should have historical conditions, vague causality, and social complexity
to enjoy a competitive advantage. Difficulty of movement is a competitive
advantage that could not be kept in firms if resources can be moved to
competitors in a short period of time, even if these are heterogeneous.
Therefore, unique resources and capability which firms have, should be
not fluid or be imperfectly moved if these are fluid.
The definition of resources which firms possess is various. According to
Barney, it means visible or invisible property of firms such as assets,
capability, organizational processes, characteristics, information, and
knowledge which are controlled by them and it could also help to make
and perform strategies which enhance effectiveness and efficiency of
firms. In addition, Wernerfelt explained that resources are tangible
property and intangible property which are possessed by firms. Similarly,