"The Resource-Based Theory of Competitive Advantage"

The Resource-Based Theory of Competitive Advantage suggests that a company's unique resources and capabilities—such as skilled employees, proprietary technology, or strong brand reputation—are key to gaining and sustaining an edge over competitors. Essentially, if a business possesses valuable, rare, and difficult-to-duplicate resources, it can deliver better value, innovate more effectively, and remain competitive over time. This approach emphasizes leveraging what a company excels at internally, rather than just focusing on market conditions or external factors, to create long-term success and profitability.