Project Managment Essay Example | Topics and Well Written Essays - 500 words

Project Managment - Essay Example Resource-based view is a main contributor to a firm’s competitive advantage. It implies the use of both tangible and intangible resources of the firm, so as to gain attributes that let it outperform its competitors (Shrivastava, 1994). Resource-based view (RBV) is a major determinant during the selection a firm’s location. These resources include the firm’s assets, management skills, organisational processes and routines, and the information and knowledge it controls. To begin, the human resource is important for a firm’s success as it encourages convergence and interaction of operations strategy and human resource issue (Thornhill & Amit, 2003). The economics and finance of a firm largely depend on RBV. A firm’s return is hoisted depending on the resources at its disposal. Thus, in selecting a location, the firm should consider the possibility of positive returns in its new location, and this, however, may be hindered by the firm’s heterogeneity (Barney 2001, 638). RBV is entirely, as well, a vital tool in expanding research and entrepreneurial developments in a firm. Through the entrepreneurial process of understanding market opportunities, and the coordination of innovativenes s and knowledge in the firm, the firm’s inputs can be easily translated to heterogeneous returns. Thus, the firm gains a competitive advantage over its competitors (Barney, 2001, 639) The selection of a new location for a firm is supposed to be based on other factors like marketing and customer preferences. Changing to a new location may alter the utilisation of RBV resources, and this may have the effect of either customer value creation or depreciation. Thus, RBV plays a big role in the determination of a new location for a firm. It may lead to a heterogeneous output for the firm if all the RBV resources are utilized with a prior market analysis (Belderbos et al., 2008) The design role in any firm