65. An entrepreneur would like to develop distinct competencies, competitiveness, and sustainability of a new venture for the company. Which plan best exemplifies this entrepreneurial strategy, according to the Resource-Based View (RBV)?
Answer: C
Recruiting employees with specialized skills and obtaining patents on unique concepts exemplifies the entrepreneurial strategy.
This strategy aligns with the Resource-Based View (RBV) as it emphasizes leveraging unique resources and capabilities to create a competitive advantage. By focusing on specialized skills and securing patents, the entrepreneur can establish distinct competencies that contribute to sustainability and competitiveness.
A) Recruiting leaders with innovative ideas who may be able to communicate the vision so clearly that they become industry-accepted standards
While recruiting leaders with innovative ideas is beneficial, this option focuses more on leadership and vision rather than on tangible resources and competencies. The RBV specifically highlights the importance of unique resources, which is not directly addressed by merely having visionary leaders.
B) Recruiting managers with good business plans who can anticipate possible obstacles to the company's success
Although effective management and planning are critical for success, this option does not emphasize the development of distinct competencies or unique resources. The RBV prioritizes the cultivation of specialized skills and unique assets, making this option less aligned with the core principles of the RBV.
C) Recruiting employees with specialized skills and obtaining patents on unique concepts
This option is the best representation of the entrepreneurial strategy according to the Resource-Based View. It directly addresses the creation of distinct competencies through specialized skills and securing patents, which are unique resources that can lead to sustained competitive advantage.
D) Recruiting salespeople who may be able to overcome weaknesses in the prototypes of a product through use of the hard sell
While skilled salespeople can enhance product performance in the market, this approach does not focus on building internal competencies or unique resources. Instead of addressing foundational strengths, it relies on compensatory tactics, which do not align with the RBV's emphasis on developing inherent capabilities.
Conclusion
Recruiting employees with specialized skills and obtaining patents on unique concepts is the most effective strategy for developing distinct competencies and achieving sustainable competitiveness according to the Resource-Based View. Other options either fail to focus on unique resources or prioritize management and sales tactics over the foundational strengths that drive long-term success. Thus, Option C stands out as the correct answer.