English

The lecture “Market- and Resource-Based View of Strategy” responds to the fundamental question how firms can achieve a sustainable competitive advantage. The lecture discusses and combines the two most prominent views of strategy: the market-based and the resource-based view. Whereas the market-based view of strategy concentrates on the opportunities and threats of the external environment, the resource-based view of strategy concentrates on the strengths and weaknesses of the internal resource and capability endowment. Major topics include market and competitive analysis, market entry and exit, strategic commitments and cooperative pricing in dynamic competitions, criteria of strategic resources, dynamic capabilities, and innovative capacity.

Students are able to assess a firm’s competitive advantage based on the market and competitive analysis and resource endowments.