Competing With Ordinary Resources

One classic approach to strategy revolves around gaining competitive advantage through valuable, scarce, and distinctive resources — such as a strong brand or innovative technology.

But competing on unique and scarce resources can be risky, because acquiring and protecting such resources can be costly; after all, most companies in an industry are seeking to obtain them. While strategic resources can yield superior competitive advantage, their cost can sometimes outweigh their benefits.

In “Competing With Ordinary Resources,” Frédér.....