During the 1980s, the principal concern of theorists in what regarded strategic management was
linked to the analysis of the external environment.
However, many researchers defend that considering the turbulence of today’s business environment
with the technology’ advancement, the ever-changing industries and with an ever
continuingly-increasing reduction in the time-frame of competitive advantage, a resource-based
view has been gaining its own space regarding strategic formulation.
Despite of the model’s capability, the theory has received diverse criticism during the last years,
which we believe that some of these criticisms deserve to be analyzed. Therefore, the present article
intends to illustrate a new theoretical basis for the analysis of the resources and capabilities in order
to explain the advantages of applying a conceptual model that articulates the VRIO framework,
initially developed by Barney (1991) with a new conceptual model that allow companies to perceive
the dynamism of the company’s competitive advantage through the inclusion of the values, dynamic
capabilities and governance concepts from the VDS acronym.
The article is subdivided into six parts, the first part is referent to the theoretical exploitation of the
RBV dematerialized in the creation of the VRIO model. The second part presents the main criticisms
existent in the literature regarding the model and its limitations. The third, fourth and fifth parts refer
to the approach in order to achieve the articulation between the VRIO model and the three additional
parameters. In the sixth part, the new model will be presented and lastly, some considerations will
be presented regarding this subject.info:eu-repo/semantics/submittedVersio
