Challenges in Relationship Marketing by Per V. Freytag, Kristian Philipsen

By Per V. Freytag, Kristian Philipsen

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99ff. 121 Based on Bea and Haas (2005), p. 28; Corsten (1998), p. 17; Rasche (1994), p. 4. 122 See Barnard (1938), Selznick (1957). Elements of resource-based theory can also be found in the work of Coase (1937); Stigler (1961); Chandler (1962); and Williamson (1975). 123 See Selznick (1957), pp. 139ff. 124 See Penrose (1959), p. 24. 125 For a review of the historical development of strategic management theory, including but not limited to the resource-based view, refer to, among others, Hoskisson et al.

69; Weigl (2008), p. 90. 95 See Hill and Jones (2010), p. 43; Porter (1979), p. 6. 96 See Bea and Haas (2005), p. 27. 102 According to Porter, a common strategic flaw is management’s unwillingness to choose between these generic strategies. 104 Yet, despite the popularity of the MBV and its prominence as one of the guiding theories in strategic management, it has its critics. The following summarizes some of the most important criticisms of the MBV. First, Porter calls to work towards imperfect market conditions through differentiation and the erection of entry barriers.

1999), p. 418. 114 See, among others, Barney (1991), Conner (1991), and Wernerfelt (1984). 115 See, among others, Kogut and Zander (1992) and Spender and Grant (1996). 116 See, among others, Cannella and Hambrick (1993), Finkelstein and Hambrick (1996), and Kesner and Sebora (1994). 117 See Henry (2008), p. 126; Sehgal (2011), p. 43. 119 The goal of a resource-based approach is therefore to implement a strategy that is based on the firm’s heterogeneous resources and that is not being implemented by competitors.

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