Question

The resource-based view of entrepreneurship suggests that an entrepreneur needs to create value and possess rare, inimitable resources. What else should an entrepreneur need from the resource perspective?

a. resources that are not value-added
b. resources that are easy to copy
c. resources that are embedded in the organization
d. resources that are the same for everyone

Answer 1

The resource-based view of entrepreneurship emphasizes the use of internal, company-specific resources that are embedded within the organization, giving it a sustainable competitive advantage.

Step-by-step explanation:

The resource-based view of entrepreneurship focuses on the internal capabilities of the entrepreneur in creating a competitive advantage. From this perspective, not only does an entrepreneur need to create value with resources that are rare and hard to copy, but they also need to utilize resources that are embedded in the organization. These are resources that are unique to the organization, often arising from the company culture, internal networks, or unique processes developed within the company. Since resource-based advantages are built internally, they are less visible to competitors, harder to duplicate, and can provide a sustainable edge in the market.