The Use of Resources in Resource Acquisition
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The author considers the processes through which a firm can acquire resources and argues that its current stock of resources create asymmetries in competition for new resources. Two simple models illustrate how this can work through linkages on the demand and/or cost side. The normative implication is that firms should expand their resource portfolios by building on their existing resources; different firms will then acquire different new resources, and small initial heterogeneities will amplify over time.
DepartmentSloan School of Management
Journal of Management
Wernerfelt, B. “Invited Editorial: The Use of Resources in Resource Acquisition.” Journal of Management 37.5 (2010): 1369–1373.
Author's final manuscript