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          Managing Firm Resources in Dynamic Environments to Create Value: Looking Inside the Black Box

          2007

          David Sirmon Michael A Hitt R Duane Ireland

          We address current criticisms of the RBV (oversight of dynamism, environmental contingencies, and managersโ€™ role) by linking value creation in dynamic environmental contexts to the management of firm resources. Components of the resource management model include structuring the resource portfolio; bundling resources to build capabilities; and leveraging capabilities to provide value to customers, gain a competitive advantage, and create wealth for owners. Propositions linking resource management and value creation are offered to shape future research.

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