The resource-based theory is that an enterprise is a collection of various resources. Due to various reasons, the resources owned by enterprises are different and heterogeneous, and this heterogeneity determines the differences in enterprise competitiveness. In general, the resource-based theory mainly includes the following three aspects.
Enterprise competitive advantage resources: special heterogeneous resources.
The resource-based theory believes that various resources have multiple uses. The business decision of an enterprise is to specify the specific use of various resources, and once the decision is implemented, it cannot be restored. Therefore, at any point in time, the enterprise will have a resource reserve brought by the decision made based on the previous resource allocation. This resource reserve will limit and affect the next decision of the enterprise, that is, the resource development process tends to reduce the flexibility of the enterprise.
Generally speaking, enterprise decision-making has the following characteristics.
①Uncertainty, that is, decision makers cannot be completely clear about the external environment such as society, economy, industry, and technology, and cannot be absolutely accurate in grasping the competitive behavior of competitors and consumer preferences.
② Complexity, that is, the interaction of various factors affecting the external environment of the enterprise is complex, and the interaction between competitors based on different perceptions of the external environment is complex.
③Internal conflicts in the organization, that is, decision makers, executors, and stakeholders do not agree on goals, and everyone will influence decision-making behavior from the perspective of maximizing their own utility. These characteristics determine that any decision has a large range of discretion, and the results will be different. Therefore, after a period of operation, the resources owned by the enterprise will show huge differences due to the complex experience of the enterprise and the role of countless small decisions. Once the enterprise falls into deviation, it may be in a situation that is increasingly difficult to correct.