Resource Rarity: The Public/ Private Universities Sustainable competitiveness Strategy
Author(s)
Download Full PDF Pages: 06-15 | Views: 766 | Downloads: 172 | DOI: 10.5281/zenodo.3445626
Abstract
This paper analyses the effect of resource rarity on sustainable competitiveness of universities. The analysis is embedded on the Resource Based View model (RBV and the balanced scorecard model of performance). According to RBV of strategic Management, competitive advantage is closely related to companies’ internal characteristics (value, rarity, inimitability and non-substitutability). The constructs of sustainable competitiveness were derived from the balanced scorecard (Financial; Teaching/Learning; Service/outreach; Scholarship/ Research and Workplace satisfaction). Although RBV is considered one of the most influential theories of strategic management, this paper unveils the empirical evidence of resource rarity on sustainable competitiveness in the service industry (universities). A sample of 262 was selected from 2 universities in Kenya (one private and one public). Using the regression analysis, findings revealed that the public university was superior in resource rarity than the private university and also that resource rarity contributes to sustainable competitiveness in universities
Keywords
Resource Based View, Resource value; Rarity, Inimitability, Non-substitutability and The balanced scoreard
References
i. Acquaah, M.; Chi, T. (2007), A longitudinal analysis of the impact of firm resources and industry characteristics on firm-specific profitability, Journal of Management and Governance
ii. Amit R., Schoemaker P., (1993), ‘Strategic assets and organizational rent’, Strategic Management Journal
iii. Barney, J. B. 1991. Firm resources and sustained competitive advantage Journal of Management
iv. Barney, J. B. (1992), Integrating Organizational Behaviour and strategy Formulation Research: A Resource Based Analysis, Advances in Strategic Management
v. Barney, J. B. (1995), Looking inside for competitive advantage, Academy of Management Executive.
vi. Bygrave,W. (1992) Venture Capital Returns in the 1980s: The state of the Art of Entrepreneurship. Boston.
vii. Chandler, G. N., & Hanks, S. H. (1994) Market Attractiveness, Resource-based
viii. Capabilities, and Venture Performance. Journal of Business Venturing
ix. Chmielewski, D. A.; Paladino, A. (2007) Driving a Resource Orientation: Reviewing the Role of Resource and Capability Characteristics, Management Decision
x. Clarke, G (1997) “Reassessing resource allocation strategies in higher education:methods of analysis”, International Journal of Education Management
xi. Conner, K. R. (1991) ‘A Historical Comparison of Resource- based Theory and Five Schools of Thought, Within Industrial Organizational Economics: Do We Have a New Theory of the Firm?’ Journal of Management
xii. Day, C. S. (1994) The capabilities of Market-driven organizations. Journal of Retailing.
xiii. Dierkx, I. & Cool, K. (1989). Asset Stock Accumulation and Sustainability of Competitive Advantage. Management Science
xiv. Dollinger, M. J. 1995. Entrepreneurship: strategies and resource. Boston, ma:Irwin
xv. Drnevich, P. L.; Kriauciunas, A. P. (2011), Clarifying the conditions and Limits of the Contributions of Ordinary and Dynamic Capabilities to Relative Firm performance, Strategic Management Journal
xvi. Finney, R., campell, N. and powell, C. (2005): “Strategies and Resources: Pathways to Success?” Journal of Business Research
xvii. Galunic, D. C., and Eisenhardt, K. M. (1994) Renewing the Strategy Structure-performance Paradigm. Research in Organizational Behavior
xviii. Galunic, D. C. and Rodan, S. (1998). Resource Recombinations in the Firm: Knowledge Structures and the Potential for Schumpeterian Innovation. Strategic Management Journal
xix. Hafstrand, H. (2006) Competitive advantage in the Magazine Publishing Business: A Resource-based Perspective, Nordicom Review
xx. Heltaf, E., and Peteraf, M. A. (2003) The Dynamic Resource Based View: Capability Lifecycle. Strategic Management Journal
xxi. Hoopes, D.G.; Madsen, T.L.,; Walker, G. (2003) Guest Editors’ Introduction to the Special Issue: Why is There a Resource-Based View? Toward a Theory of Competitive Heterogeneity Strategic Management Journal
xxii. Kothari, C. (2003) Research Methods; Methods and Techniques ; New Delhi: Eastern Ltd
xxiii. Lado, A.A., Boyd, N. G. and Wright, P. (1992) A Competency-based Model of Sustainable Competitive Advantage: Towards a Conceptual Synthesis. Journal of Management
xxiv. Long, K., & Vickers-Koch, M (1995) Using Core Competences to create competitive advantage. Organizational Dynamics
xxv. Mahoney, J. T. and Pandian, J. R. (1992) ‘The Resource-based View within the Conversation of Strategic Management’, Strategic Management Journal
xxvi. Makadok, R., (2001), ‘Toward a Synthesis of the Resource-based and Dynamic-capability Views of Rent Creation’, Strategic Management Journal
xxvii. Materu, P. (2007) Higher Education Quality Assurance in Sub-Saharan Africa: Status,Challenges, Opportunities and Promising procedures. World Bank
xxviii. McEvily, S. K., and Chakravarthy, B. (2002) The Persistence of Knowledge- based Advantage: An Empirical Test for Product Performance and Technological Knowledge. Strategic Management Journal
xxix. McGee, J. E. & Finney, J. B. (1997) Competing against Retailing Giants: A look at the Importance of Distinctive Marketing Competencies. Journal of Business and Entrepreneurship
xxx. McGrath, R. G., Tsai, M., Venkataraman ,S. and MacMillan, I. C. (1996) Innovation,Competitive Advantage, and Rent. Management Science
xxxi. Miller, D., and Shamsie, J. 1996. The resource-based view of the firm in two environments: The Hollywood film studios from 1936 to 1965. Academy of Management Journal
xxxii. Newbert, S. L. (2007), Empirical Research on the Resource-based View of the Firm: an Assessment and Suggestions for Future Research, Strategic Management Journal
xxxiii. Newbert, S. L. (2008), Value, Rareness, Competitive Advantage, and performance: A Conceptual-level Empirical Investigation of the Resource-based View of the Firm, Strategic Management Journal
xxxiv. Pearce and Robinson (2007) Strategic Management: Formulation, Implementation and Control; Boston: McGraw Hill
xxxv. Priem, R. L.; Butler, J. E. (2001), Is the Resource-based ‘View’ a Useful Perspective for Strategic Management Research?, Academy of Management Review
xxxvi. Protogeron, A.; Caloghirou, Y.; Lioukas, S. (2008), Dynamic Capabilities and Their Indirect Impact on Firm Performance, Paper submitted to the DRUID 25th Celebration Conference 2008
xxxvii. Rugman A.M. and Verbeke, A. (2002), Edith Penrose’s Contribution to the Resource- Based Views of Strategic Management. Strategic Management Journal
xxxviii. Rumelt, R. P. (1984) Towards a Strategic Theory of the Firm. Prentice Hall, New Jersey
xxxix. Selznik, P. (1957) Leadership in administration. New York, NY: Harper & Row
xl. Sirmon, D.G., Hitt, M.A. and Ireland, R.D. (2007) Managing Firm Resources in Dynamic Environments to Create Value: Looking inside the Black Box. Academy of Management Review
xli. Spanos, Y.E., Lioukas, S. (2001) An Examination into the Causal Logic of Rent Generation:Contrasting Porter's Competitive Strategy Framework and the Resource-based Perspective. Strategic Management Journal
xlii. Tabachnick, B. G., and Fidell L. S. (2007) using Multivariate Statistics. Northridge; New York
xliii. Talaja, A. (2012) Testing VRIN Framework: Resource Value and Rareness as a Source of Competitive Advantage and above Average Performance. Management Journal
xliv. Wernerfelt, B. (1984) A Resource-based View of the Firm. Strategic Management Journal
xlv. Wu, L. Y. (2010), Applicability of the Resource-based and Dynamic Capability Views under Environmental Volatility, Journal of Business Research
Cite this Article: