Strategic assets and organizational rent

Amit, Raphael; Schoemaker, Paul J. H.

doi:10.1002/smj.4250140105

Cited by 8,425Innovation and Knowledge ManagementManagement and Organizational StudiesIntellectual Capital and Performance Analysis

Strategic assets and organizational rent

Amit, Raphael, Schoemaker, Paul J. H.·1993·Strategic Management Journal

DOI 10.1002/smj.4250140105

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Abstract

We build on an emerging strategy literature that views the firm as a bundle of resources and capabilities, and examine conditions that contribute to the realization of sustainable economic rents. Because of (1) resource‐market imperfections and (2) discretionary managerial decisions about resource development and deployment, we expect firms to differ (in and out of equilibrium) in the resources and capabilities they control. This asymmetry in turn can be a source of sustainable economic rent. The paper focuses on the linkages between the industry analysis framework, the resource‐based view of the firm, behavioral decision biases and organizational implementation issues. It connects the concept of Strategic Industry Factors at the market level with the notion of Strategic Assets at the firm level. Organizational rent is shown to stem from imperfect and discretionary decisions to develop and deploy selected resources and capabilities, made by boundedly rational managers facing high uncertainty, complexity, and intrafirm conflict.

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The VRIO framework states that firm performance depends on the extent to which a firm possesses simultaneously valuable, rare, imperfectly imitable resources which are properly organized.
“In addition to these two assumptions, the logic of RBT embraces the VRIO framework which clearly states that firm performance depends on the extent to which a firm possesses simultaneously valuable (V), rare (R), imperfectly imitable (I) resources which are properly organized (O) (Amit and Schoemaker, 1993;Barney et al., 2001).”
From How to improve firm performance using big data analytics capability and business strategy alignment? (2016) · cites this paper as Amit and Schoemaker, 1993
Resources are tradable and non-specific firm assets, while capabilities are non-tradable firm-specific abilities to integrate, deploy, and utilize resources within the firm.
“Amit and Schoemaker [20] define resources as tradable and non-specific firm assets, and capabilities as non-tradable firm-specific abilities to integrate, deploy, and utilize resources within the firm.”
From Artificial intelligence capability: Conceptualization, measurement calibration, and empirical study on its impact on organizational creativity and firm performance (2021) · cites this paper as [20]

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Authors: Amit, R., & Schoemaker, P. J. H.
Affiliations: University of British Columbia (CA)
University of Chicago (US)
ORCID: Amit, Raphael
Schoemaker, Paul J. H.
Venue: Strategic Management Journal
Publisher: Wiley
Published: 1993-01
Volume: 14
Issue: 1
Pages: 33-46
ISSN: 0143-2095 (ISSN-L)
1097-0266
DOI: 10.1002/smj.4250140105
OpenAlex: W2102469678
Cited by: 8,425
References: 90
Citations by year: 2026: 161 · 2025: 190 · 2024: 252 · 2023: 267 · 2022: 299 · 2021: 341 · 2020: 312 · 2019: 331 · 2018: 372 · 2017: 370 · 2016: 381 · 2015: 420 · 2014: 466 · 2013: 472 · 2012: 431
FWCI: 175.50
Type: journal article
Language: en
Open access: closed
Licence: onlinelibrary.wiley.com/termsAndConditions#vor (vor, 5059 d)
Locations: Strategic Management Journal (publishedVersion)
Topics: Social Sciences › Business, Management and Accounting › Strategy and Management › Innovation and Knowledge Management
Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Management and Organizational Studies
Social Sciences › Business, Management and Accounting › Strategy and Management › Intellectual Capital and Performance Analysis
Keywords: strategic assets, resource-based view, economic rent, bounded rationality, managerial discretion, uncertainty and complexity

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Strategic assets and organizational rent

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