JOURNAL OF MANAGEMENT POLICY AND PRACTICE
From Penrose to Complementary Assets: The Evolution of the Resource-Based Literature
Author(s): Jon Carrick
Citation: Jon Carrick, (2013) "From Penrose to Complementary Assets: The Evolution of the Resource-Based Literature," Journal of Management Policy and Practice, Vol. 14, Iss. 3, pp. 125 - 156
Article Type: Research paper
Publisher: North American Business Press
Although scholars recognize that the resource-based view (RBV) stems from Penrose’s (1959) ideas (Barney, 1986; Wernerfelt, 1984), the evolution and continued evolution of the resource-based ideology has not been properly traced. The purpose of this paper is to trace this evolution, and connect several major areas of the literature: namely, Penrose, RBV, dynamic capabilities, and complementary assets (CAs). In tracing the resource-based evolution, the paper underscores the important and relevant aspects of resource-based ideology to modern management, untangles the incongruities in the literature, and identifies the weaknesses in the resource-based ideology.