Evolutionary economics explains change over time with respect to economic development.Read More
Theories are formulated to explain, predict, and understand phenomena and, in many cases, to challenge and extend existing knowledge within the limits of critical bounding assumptions. TheoryHub features reviews of theories, acting as a starting point for theory exploration.
The resource-based theory (RBT) is an influential approach in strategic management. It has been widely applied as a managerial framework to determine vital resources for a firm to achieve a sustained competitive advantage. The theory provides an essential framework to explain and predict the fundamentals of a company’s performance and competitive advantage.Read More