What strategic management approach focuses on exploiting a firm’s unique internal resources and core competencies to achieve sustainable competitive advantage?

Explanation

• The Resource-Based View (RBV) argues that internal resources and core capabilities drive competitive advantage rather than industry structure alone.
• The VRIO framework (Valuable, Rare, Inimitable, Organized) evaluates whether internal resources can deliver sustainable advantage.
• Industrial Organization (I/O) view focuses primarily on external industry structural forces.