This paper elucidates the underlying economics of the resource-based view of competitive advantage and integrates existing perspectives into a parsimonious model of resources and firm performance. The essence of this model is that four conditions underlie sustained competitive advantage, all of which must be met. These include superior resources (heterogeneity within an industry), ex post limits to competition, imperfect resource mobility, and ex ante limits to competition. In the concluding section, applications of the model for both single business strategy and corporate strategy are discussed.

中文翻译：

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竞争优势的基石：基于资源的观点

本文阐明了基于资源的竞争优势观点的基本经济学，并将现有观点整合到资源和企业绩效的简约模型中。该模型的本质是，四个条件是持续竞争优势的基础，所有这些条件都必须满足。这些包括优越的资源（行业内的异质性），竞争的事后限制，不完善的资源流动性以及竞争的事前限制。在最后一节中，将讨论该模型在单一业务策略和公司策略中的应用。