A Systematic Review of Resource-Based View and Dynamic Capabilities of Firms and Future Research Avenues

This study synthesizes empirical research on Resource-Based Views (RBVs) and Dynamic Capabilities (DCs) of firms across various sectors, aiming to create a comprehensive understanding of these topics.Utilizing a systematic literature review methodology, 46 articles that met stringent screening criteria were analyzed, with key information extracted.These articles, sourced from databases such as Science Direct, Elsevier, JSTOR, and Google Scholar, centered on studies related to RBV and DCs.Thematic content analysis was employed to distill the primary research focus on RBV and DC.Search terms included "resource-based view," "firm resource approach," "dynamic capabilities," "firm capabilities," and "organizational capabilities."Inclusion criteria were based on search boundaries, publication date, language, and search strings, while exclusion criteria included relevance, quality, and duplication.The analysis yielded five major themes related to RBV (knowledge-based, human, physical, technological, and organizational resources) and four primary themes regarding DCs (marketing, operational, innovative, and alliance/integration capabilities).These themes were scrutinized to comprehend the current state of knowledge, identify research gaps, and suggest future research opportunities.The review reveals that while RBVs emphasize how a firm's resources contribute to its competitive advantage, DCs elucidate how firms can cultivate a competitive advantage in fluctuating environments.Areas underexplored in existing research, such as the types of resources influencing financial and non-financial performance, the measurement of a firm's capabilities, and the critique of RBV, present potential avenues for future investigations.