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Resource-based view of capability -- Penrose --
Resources consist of a bundle of potential services ...[T]he services yielded by resources are a function of the way in which they are used (Penrose, 1959, p 25).

Wernerfelt --
Wernerfelt (1984) defined resources as ""anything that could be thought of as a strength or weakness of a given firm."" More formally, resources are the intangible and tangible assets which are tied semipermanently to the firm. Examples include brand names, in-house knowledge of technology, skilled personnel, trade contracts, efficient procedures, capital, machinery, etc.

""Resources and products are really two-sides of the same coin. Most products require the services of several resources and most resources can be used in several products."" (Wernerfelt, 1984).

Barney --
Barney (1991) describes firm resources as all assets, capabilities, organizational processes, firm attributes, information, knowledge, etc. controlled by a firm to conceive of and implement strategies that improve its efficiency and effectiveness (Daft, 1983). In the language of traditional strategic analysis, firm resources are strengths that firms can use to conceive of and implement their strategies. These resources can be classified as --

  • physical capital resources -- the physical technology used in a firm, a firm's plant and equipment, it geographic location, and its access to raw materials
  • human capital resources -- training, experience, judgment, intelligence, relationships, and insight of individual managers and workers in a firm
  • organizational capital resources -- a firm's formal reporting structure, its formal and informal planning, controlling, and coordinating systems, as well as informal relations among groups within a firm and those in its environment

Business model resource elements --
See business model for the resource business model elements in the BAi generic business model.