This article uses accounting concepts to assist the field of strategic management in its search
for a theory of value, competitive advantage and superior profitability. Specifically, it argues
that the resource-based view of the firm requires a labour theory of value creation. Using
the circuit of capital as an organizing framework this article integrates RBV and Marx’s value
theory, by introducing the notion of value as socially necessary labour time, into the analysis
of resource-based advantage. This enables us to identify the impact of particular sources of
competitive advantage as they become diffused through an industry. Some resource-based
advantages, when eventually imitated lead to an overall reduction in industry profitability,
and other advantages lead to increases in industry average profitability.
This article uses accounting concepts to assist the field of strategic management in its search
for a theory of value, competitive advantage and superior profitability. Specifically, it argues
that the resource-based view of the firm requires a labour theory of value creation. Using
the circuit of capital as an organizing framework this article integrates RBV and Marx’s value
theory, by introducing the notion of value as socially necessary labour time, into the analysis
of resource-based advantage. This enables us to identify the impact of particular sources of
competitive advantage as they become diffused through an industry. Some resource-based
advantages, when eventually imitated lead to an overall reduction in industry profitability,
and other advantages lead to increases in industry average profitability.
การแปล กรุณารอสักครู่..
