Managing Natural Resources
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Managing Natural Resources

Organizational Strategy, Behaviour and Dynamics

Edited by Gerard George and Simon J.D. Schillebeeckx

Managing the natural environment is fundamental to many businesses, yet management scholars have understudied how natural resources are acquired and deployed, how they constrain and challenge strategy and innovation, and how they differ from more conventionally studied resources in management. This book captures leading and thought-provoking conceptual and empirical contributions on how organizations (ought to) interact with such natural resources. The authors apply and extend management theories to the natural resource context, thereby opening up multiple avenues for future research.
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Chapter 8: Natural resources and the resource-based view

Bettina Bastian, Ulf Henning Richter and Christopher L. Tucci


The resource-based view of the firm (RBV) has emerged as a dominant perspective in strategic management, aiming to explain how unique firm resources and capabilities lead to sustained competitive advantage. In this book chapter, we apply the RBV to the context of finite natural resources and show that the RBV criteria do not suffice to understand performance differences given political risk resulting from the fixed location of natural resources and auto-consumption that drives natural resource depletion. Using a property rights perspective, we outline factors that enhance the explicatory power of the RBV for the extractive sector. We develop four scenarios that link natural resource endowment, depletion, political risk, firm performance, innovation and diversification.

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