A conceptual look at the strategic resource dynamics of public affairs

The goal of this paper is to build an understanding of core public affairs resources, their development and their relationship to competitive advantage. The perspective employed is that of the resource‐based view (RBV) of the firm and the resources associated with public affairs are viewed in strategic terms. Public affairs is conceptualized as a dynamic capability whose function is to ‘catalyse’ latent socio‐political resources into operational ones that can be used in pursuit of sustainable competitive advantage. The types and development of public affairs resources are described. A model of the dynamics of resource development and exploitation is offered, along with simple typologies of the major operational resource categories of access and legitimacy.