2. Birger Wernerfelt

Birger Wernerfelt is a notable economist and professor known for his contributions to the field of business strategy. He introduced the concept of the "resource-based view" (RBV) of the firm, which emphasizes that a company's unique resources and capabilities are key to its competitive advantage and long-term success. This perspective shifts the focus from external market conditions to what a company possesses internally, such as specialized knowledge, skilled employees, or valuable technologies. Wernerfelt’s ideas have significantly influenced how businesses develop strategies to leverage their strengths in the marketplace.