July 26, 2016

Resource Based View of the Firm and Importance of Resourcing Function for Entrepreneurs and Managers

Narayana Rao identified resourcing  as an important function of managers and advocated that functions of management are to be listed as Planning, Organizing, Resourcing, Executing and Control.

Resource Based View (RBV) of the firm views a firm as a bundle of resources and resources determine the performance of the firm. Barney (1991) classifies resources as "assets, capabilities, organizational processes, firm attributes, knowledge etc." Resources enable the firm to conceive of and implement strategies that improve its effectiveness and efficiency. Lichtenstein and Brush (2001) identify important resources for entrepreneurial ventures.

The following  book provides a detailed description of resources required  by entrepreneurs and provides a road map to acquire the important resources.

Resourcing the Start-Up Business: Creating Dynamic Entrepreneurial Learning Capabilities

Oswald Jones, Allan Macpherson, Dilani Jayawarna
Routledge, 01-Oct-2013 - Business & Economics - 270 pages

Starting a business successfully requires numerous skills and resources. The alarming rate of failures associated with new ventures suggests that potential entrepreneurs would welcome expert advice at the most vital stage in the life of any business.

The expert author team focus on those resources, skills, capabilities and learning required by any entrepreneur in the process of starting a new business. Specifically, this text aims to:

Introduce and explain those resources (including finance) that are essential to successful business creation
Identify the key skills and capabilities that are required by entrepreneurs
Highlight the ways in which new resources are combined with the entrepreneur’s existing resource base to develop the business effectively
Explore the way entrepreneurs learn in the process of developing their business
Drawing on the most up-to-date and most relevant research, this concise textbook provides students and academics of entrepreneurship with a practical guide to acquiring the appropriate resources in order to start a new firm.

Resourcing new businesses: social networks, bootstrapping and firm performance
Venture Capital: An International Journal of Entrepreneurial Finance
Volume 12, Issue 2, 2010

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