13. An entrepreneur would like to develop distinct competencies, competitiveness, and sustainability of a new venture for the company's success. Which plan best exemplifies this entrepreneurial strategy, according to the resource-based view (RBV)?
Answer: D
Recruiting employees with specialized skills and obtaining patents on unique concepts
This plan exemplifies the entrepreneurial strategy of developing distinct competencies and competitiveness, as it focuses on leveraging specialized skills and protecting unique innovations, which are crucial for long-term sustainability and success according to the resource-based view.
A) Recruiting salespeople who may be able to overcome weaknesses in the prototypes of a product through use of the hard sell
This option primarily focuses on sales tactics rather than building sustainable competencies. While overcoming product weaknesses is important, relying solely on hard selling does not contribute to the foundational strengths of the company or its competitive edge.
B) Recruiting managers with good business plans who can anticipate possible obstacles to the company's success
While having managers who can foresee obstacles is beneficial, this option lacks a focus on specialized skills and innovation. Good business plans alone do not create the unique capabilities or resources that are essential for establishing a competitive advantage.
C) Recruiting leaders with innovative ideas who may be able to communicate the vision so clearly that they become industry-accepted standards
Though recruiting innovative leaders can be advantageous, this option does not emphasize the importance of specialized skills or the protection of intellectual property through patents. Communication of vision is important, but it is not sufficient for developing distinct competencies necessary for sustainability.
D) Recruiting employees with specialized skills and obtaining patents on unique concepts
This plan directly aligns with the resource-based view by focusing on internal capabilities and protecting intellectual assets. Specialized skills enhance the company's unique competencies, while patents safeguard innovations, ensuring a competitive edge and long-term viability.
Conclusion
The correct answer, recruiting employees with specialized skills and obtaining patents on unique concepts, is the most effective strategy for building a sustainable competitive advantage. Other options do not adequately address the need for distinct competencies and protection of innovations, which are vital components of entrepreneurial success as highlighted by the resource-based view.