Purpose:
The purpose of this article is to identify and discuss the practical implications of the resource based-view of the firm.
Methodology:
Review of relevant literature.
Findings:
A number of recommendations are put forward and the practical implications constitute the main findings of this study.
Practical implications:
The implications can be summarized by these recommendations: Diversify based on capabilities and not on the markets you are currently serving, focus on creating value together with your customers based on your resources instead of offering a set of products, integrate HRM practices with strategic management processes. The complexity of imitating resources is also discussed.
Originality:
Few publications have set out to develop implications of the resource-based view from a CEO’s point of view. This paper provides an easy-to-access review and summary of some of the main implications of the resource-based view.