The Resource-Based View and The Concept of Value: The Role of Emergence in Value Creation


  • Luis Armando Luján Salazar Universidad Autónoma de Aguascalientes



strategy, resource-based view, value creation, emergence


This theoretical paper deals with the concept of value. It asserts that value is the only and necessary condition in the resource-based view (RBV). It also argues that no resource or strategy is valuable per se: it is related to a configuration of resources, routines, and embedded assets. For example, concerning the RBV attribute of imitation, we can ask to what extent a valuable resource is independent of the rest of resources, and by extension, to what extent a configuration of resources is rare by itself. This paper discusses the emergence of value and it is embeddedness in a configuration of resources. Revising the concept of value could challenge the other main conditions in the RBV: rarity and cost of imitation, impossibility to replace with strategic substitutes. If the relations of these attributes with the rest of the resources are taken into account, we might have a better understanding of how value emerges and how a firm’s resources and capabilities are related with the creation of value.

Author Biography

Luis Armando Luján Salazar, Universidad Autónoma de Aguascalientes

Estancia postdoctoral en el Centro Ciencias Ecónomicas y Administrativas


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How to Cite

Luján Salazar, L. A. (2017). The Resource-Based View and The Concept of Value: The Role of Emergence in Value Creation. Mercados Y Negocios, (35), 27–46.