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Use of resource based view in industrial cluster strategic analysis
1. International Journal of Operations & Production Management
Emerald Article: Use of resource-based view in industrial cluster
strategic analysis
Eduardo de Oliveira Wilk, Jaime Evaldo Fensterseifer
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To cite this document: Eduardo de Oliveira Wilk, Jaime Evaldo Fensterseifer, (2003),"Use of resource-based view in industrial
cluster strategic analysis", International Journal of Operations & Production Management, Vol. 23 Iss: 9 pp. 995 - 1009
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Industrial cluster
Use of resource-based view in strategic
industrial cluster strategic analysis
analysis 995
Eduardo de Oliveira Wilk and Jaime Evaldo Fensterseifer
School of Administration (PPGA/EA) and Agribusiness Research Center
(CEPAN), Federal University of Rio Grande do Sul (UFRGS), Brazil
Keywords Resources, Cluster analysis, Strategic evaluation, Industrial performance,
Winemaking, Brazil
Abstract The resource-based view of the firm has recently emerged as a new paradigm in
strategic analysis. According to this view, firms are heterogeneous collections of resources that lead
them to distinct market performance. This paper uses this approach not to analyse an individual
firm but a cluster of firms, whose competitiveness depends not only on their individual resources
and capabilities but also on those shared by the cluster as a whole. The analysis was developed for a
wine cluster located in southern Brazil. The main objective was the identification of the resources
and capabilities shared by the cluster in its effort to formulate sustainable competitive strategies.
The research method employed combined the techniques of cognitive mapping analysis with the
theoretical basis of the resource-based view approach. The results of the study produced a
significant improvement in managers’ and strategists’ perceptions about the competitive potential
of the cluster.
Introduction
One of the central purposes of strategy formulation and implementation is the
development and sustaining of competitive advantages. The theories in this
field are under constant scrutiny and frameworks and analytical models that
search to explain the nature of competition among firms abound in the strategy
literature. In essence, there is a need for an understanding of why some firms
perform better than others while the competitive environment remains the
same for all firms. Amongst the most relevant contributions in this sense are
Porter’s (1980, 1985) five competitive forces model, with its roots in industrial
organisation. Despite the strong contribution of this analytic approach, more
recent research is paying greater attention to the firms’ internal environment,
looking for factors like knowledge and other intangible strategic assets to
explain differences in performance. This type of approach is embodied in the
so-called “resource-based view (RBV) of the firm”.
This paper follows this stream of research. It presents the results obtained in
a process of strategic analysis carried out for a wine cluster in southern Brazil.
The main objectives were to identify the strategic resources and capabilities of
International Journal of Operations &
the cluster and to develop an understanding of their interactions and the Production Management
Vol. 23 No. 9, 2003
conditioning factors that can lead to sustainable competitive advantages. pp. 995-1009
The research method employed combined the techniques of cognitive q MCB UP Limited
0144-3577
mapping analysis with the theoretical basis of the RBV approach. The results DOI 10.1108/01443570310491747
3. IJOPM of the study produced a significant improvement in managers’ and strategists’
23,9 perceptions about the cluster’s strategic resources and capabilities and hence of
its competitive potential.
Although individual firms have been the preferred unit of analysis in
strategy literature, today, in a world of alliances and coalitions, competition
increasingly occurs between supply chains, networks of firms, or clusters. A
996 cluster, whose role in competition has only recently been widely recognised,
can be defined as a geographical concentration of inter-related firms,
specialised suppliers, knowledge producers and research centres, brokers,
consultants and consumers, connected in a value producing chain (Porter,
1990).
In this study, the same principles and constructs of the resource-based
approach applicable to the individual firm were applied to the cluster and its
collective resources and capabilities.
The study is structured as follows. The next section presents the main
theoretical concepts of the resource-based approach, exploring issues like
strategic attributes and relationship between resources. The following section
discusses the methodological steps taken in this research study, where the
elaboration of cognitive maps plays a central role. Finally, the wine cluster
analysis and a discussion of the main results are presented.
The RBV of the firm
Positioning a firm for competitive advantage through the correct
understanding of its strengths and weaknesses has been one of the basic
prescriptions in the strategy field since the developments of Ansoff (1968) and
Andrews (1971). This prescription, however, remained for a long time at a
conceptual level, lacking tools for a deeper analysis of firms’ resources, which
constitute the ultimate basis for firms “strengths and weaknesses”.
Today, the RBV of the firm has rediscovered its roots in the studies of
Selznick (1957) and Penrose (1959), and is establishing itself as a promising and
insightful field of research. This approach “views” firms as different amalgams
of productive and strategic resources and capabilities that lead them to
different performance potentials. As Barney (1991) noted, all firms are different
because they do not have the same history, the same experiences, the same
organisational culture or the same assets and abilities.
In its modern form, the RBV approach has been object of the works of
Wernerfelt (1984), Rumelt (1984, 1991), Dierickx and Cool (1989), Barney (1986,
1991, 2001), Teece (1986), Grant (1991), Mahoney and Pandian (1992), Amit and
Shoemaker (1993), Peteraf (1993), Foss (1997), Teece et al. (1997), Castanias and
Helfat (2001), Lockett and Thompson (2001) and Mahoney (2001), among
others.
Some important research themes concerning the RBV approach includes the
classification of strategic resources (Barney, 1991; Grant, 1991; Zahra and Das,
4. 1993), the identification of strategic resources and their interactions (Amit and Industrial cluster
Shoemaker, 1993; Black and Boal, 1994), the valuation of strategic resources strategic
(Collis, 1994), and the resource acquisition and formation processes (Barney, analysis
1986; Bernardo and Chowdhry, 2002). This paper deals with the second theme
and the approach taken here is to explore the conditions that make a resource
become strategic.
997
The strategic nature of a resource
Resources can be classified in three main categories (Penrose, 1959; Barney,
1991; Grant, 1991):
(1) physical resources, like plants and equipment, land, natural resources
and raw materials;
(2) human resources, including the productive, technical and managerial
workers; and
(3) organisational resources, formed by the routines that coordinate the
human and physical resources in a productive way.
Resources can also be “tangible”, which can be observed and evaluated with
clarity, like physical resources, and “intangible”, which cannot be directly
observed or quantified, like the reputation of a company or a product,
organisational culture, management and coordination abilities,
non-documented technologies and knowledge, among others.
Resources and capabilities can be defined as “strategic” when they are
valuable, rare, inimitable, non-substitutable, or still, ambiguous to
competitors and can be used as basis for the achievement of competitive
advantages. Additionally, a fundamental distinction between resources and
capabilities is that resources consist of a bundle of potential services
whereas capabilities can be defined as the services, activities or functions
itself, played by these resources (Penrose, 1959; Mahoney and Pandian,
1992).
The search for special attributes that characterise the strategic value of a
resource leads us to an extensive list of terms. Although researchers have
explored these attributes under different names, a deeper analysis of the main
studies of Wernerfelt (1984), Rumelt (1984), Teece (1986), Dierickx and Cool
(1989), Barney (1991), Grant (1991), Amit and Shoemaker (1993) and Black and
Boal (1994) shows a strong similarity of ideas.
Peteraf (1993) developed a framework that synthesised most of these ideas in
four necessary conditions that must exist for a resource to be considered
strategic, referred to as the “cornerstones of competitive advantage”:
heterogeneity, imperfect mobility, ex ante limits to competition and ex post
limits to competition. Each one is next briefly described, as they constitute
important elements of the conceptual basis of our study.
5. IJOPM Heterogeneity
23,9 According to Peteraf (1993), heterogeneity in an industry can involve situations
in which the amount of strategic resources is limited and scarce in relation to its
demand. Under this condition, inferior or inefficient resources are used in
production in order to supply the residual demand. In this context, a possibility
of superior profits (economic rent) emerges for the most efficient firms. This
998 argument can be more clearly understood if we assume that firms with superior
resources have lower average production costs than the other firms. However,
being limited by the scarcity of the resources they cannot expand production
quickly even if prices are very high. The high prices, however, can induce
other, less efficient, firms to enter the market. When equilibrium occurs
between demand and supply, and prices reach its own equilibrium, these
companies will have their profits lowered to the equilibrium point and the
lower cost firms will obtain higher profits by using their superior resources.
Thus, the more efficient firms are able to sustain their competitive
advantages as long as their resources cannot be imitated or expanded to the
demand level. The efficiency differential (heterogeneity) in relation to other
firms’ resources and the existence of scarcity in relation to demand are essential
conditions to improve profit performance through the use of a strategic
(superior) resource.
Ex ante limits to competition
The existence of ex ante limits to competition, as defined by Peteraf (1993),
implies that prior to the establishment of a superior position in resources there
must exist a limited competition for that position.
Peteraf (1993) states that a position in resources can only be a source of
superior performance if the firm has an opportunity to acquire them in the
absence of competition. Thus, the value of the resources cannot be known to all
competitors prior to their acquisition and use, for otherwise it would generate a
competition for these resources and consequently profits would be eroded.
Concerning this point, unless a difference exists between the ex post value of
the necessary resources and their ex ante acquisition cost, the generated above
normal profits (economic rent) can be null (Rumelt, cited in Peteraf, 1993).
Ex post limits to competition
The need of ex post limits to competition implies that after a firm establishes a
superior competitive position through heterogeneous resources in relation to its
competitors, there must exist factors that sustain the durability of this
heterogeneity condition in a way that preserves the attained superior position.
Peteraf (1993) considers as main conditions that limit ex post competition the
presence of “imperfect imitability” and “imperfect substitutability” of a
resource. The performance of competitors through imitation or substitution,
increasing the supply of a resource initially scarce, can dissipate the profits in a
competitive environment. The capacity to protect a resource against imitation
6. or substitution depends on a series of factors. Among these are issues described Industrial cluster
by Rumelt (1984) and Dierickx and Cool (1989) as “isolation mechanisms” strategic
(Peteraf, 1993). The most important isolation mechanisms are the analysis
indetermination or causal ambiguity of the knowledge involved in the
acquisition of a resource, the degree of asset complementarities and the
existence of “path-dependent” factors.
999
“ Indetermination” or “causal ambiguity” exists when the competitors are
unable to identify which are the valuable resources or how to recreate or define
them (Reed and DeFillippi, 1990). For example, in the case of non-codified
knowledge, causal ambiguity renders difficult to identify, from a competitive
position standpoint, which resources sustain that position. Thus, the
idiosyncrasies of the learning process, rather than representing a problem
are, in some cases, a desirable condition to sustain a competitive advantage.
A “path-dependence” condition, in turn, means that a resource or asset was
developed and accumulated in a process through time, generally in a learning
sequence involving trial and error.
Imperfect mobility
The “imperfect mobility” condition of a resource implies that, although this
resource can be traded, it is much more valuable in the firm in which it is
currently being used than it would be in another firm. The resources are
imperfectly mobile when they are somewhat specialised or exclusively
developed or adapted for the needs of the company that possesses them.
Concerning this aspect, Teece (1986) argues that certain groups of resources
only produce value when used jointly, referring to them as “co-specialised
assets”. Another source of “imperfect resource mobility” is present when the
associated transaction or mobility costs for this resource are excessively high
in relation to its value (Rumelt, cited in Peteraf, 1993).
Certain resources, however, are configured or related in such a way that it
becomes difficult for both sellers and buyers to analyse them and determine
their costs or individual values. These “information asymmetries” prevent a
likely buyer to have access to a proper evaluation of these resources, hindering
therefore their negotiation or change of hands (Barney, 1991).
The consideration of the conditioning factors described above is hence an
essential step in the evaluation of the resources and capabilities of a firm and in
signalling the path for the identification of the ones that have strategic value.
And, since the strategic value of a firm’s resources resides not only in its
individual attributes but also in the total effect of its complex and systemic
interaction (Black and Boal, 1994), a systemic understanding of these attributes
and interactions provides the foundations for a firm, or a cluster, to identify its
sources of advantages and possible scope of competition.
7. IJOPM Research methodology
23,9 Strategy formulation in the managerial field is characterised by a strong
dependence on the context in which a firm is embedded, which renders direct
observation of resources and capabilities very difficult. But, on the other hand,
it is precisely in this difficulty of observation and codification that lies their
strategic value, since competitors cannot easily emulate them. In other words,
1000 the same conditions that create a problem for competitors, as well as for
empirical researchers, are precisely the sources of strategic value of these
resources and capabilities.
Concerning this problem, Godfrey and Hill (1995) noted that the evidence of
unobservable factors could be checked through the observation of their effects,
independently of the possibility of formal and direct observation of these
factors. According to the authors, qualitative methodologies and case studies
are of extreme value in the investigation of these unobservable factors and it
was the methodology chosen for this study.
In order to identify the resources and capabilities of the wine cluster we used
in-depth interviews with experts from the wine sector, followed by the
elaboration and analysis of cognitive maps, which constitute graphic
representations of the collective knowledge of the interviewed experts.
Cognitive maps can be defined as “graphs” elaborated by a person or a group of
persons on the subjective aspects of a problem, which are rendered explicit by
the use of induction (Howard, 1989; Calori et al., 1994). These maps contribute
to the understanding of the images and the words used for the mental
representation of a reasoning process and are thus useful in the process of
analysing and modelling complex problems characterised by subjective ideas
about the reality.
The methodological steps of the research are depicted in Figure 1 and
described below.
The first step consisted of forming a group of experts on the wine industry.
Eight experts were chosen among managers, agronomists, oenologists and
economists, as shown in Table I. They were selected based on their
involvement with different aspects of the wine cluster. This group was one of
the main sources of information throughout the study.
The data collection was accomplished through in-depth semi-structured
interviews (step 2) with the group of experts. The interviews were recorded
with the interviewees’ acquiescence, had an average duration of 90 minutes and
were transcribed in its entirety immediately after its conclusion. The main
objective of this step was to characterise the set of resources of the cluster as a
starting point for the identification of its strategic resources and capabilities. In
these interviews the strategic value of the resources were appraised based on
Peteraf’s (1993) four conditions for a resource to be strategic.
The third step consisted of the content analysis. This was carried out in
three different stages, adapted from Moraes (1993):
8. Industrial cluster
strategic
analysis
1001
Figure 1.
Main methodological
steps
Expert Function Experience in industry (years)
1 Oenologist 18
2 Marketing director of a winery 20
3 Researcher from Embrapaa 10
4 Researcher from Embrapaa 15
5 Economist 20
6 Viticulturist 35
7 Owner of small winery 15 Table I.
8 Director of large winery 40 Group of experts from
Note: a Federal Agricultural Research Centre wine sector
(1) Preparation of the information. Working with the transcribed
interviews, this first stage consisted of selecting and highlighting the
important aspects pertinent to the study, like history, learning trajectory
and industry infrastructure.
(2) Transformation of the general content into concepts. This stage was
carried out in two different moments: separation of text into paragraphs,
in accordance to the thematic content; and successive synthesis of each
paragraph in order to identify concepts that represent central ideas,
knowledge fragments and important events, conserving the original
meaning as well as the interviewees’ own words.
9. IJOPM (3) Classification of the identified concepts into categories. Consisted of
23,9 grouping the concepts of each interview by thematic similarity and
eliminating duplicate ones.
Having concluded the content analysis, the next step (step 4) consisted of the
elaboration of the basic cognitive maps. These basic maps will evolve, in the
1002 sequence of steps, to intermediary maps and finally to a global map. Since
cognitive mapping is the central technique used in our study, further details are
next provided.
As shown in Figure 2, there are three basic types of concepts in the general
structure of a cognitive map:
(1) tail concepts, which indicate primary concepts that can represent single
ideas, actions, or initial events;
(2) branch concepts, which represent key ideas, actions or events that
synthesize the reasoning of the experts and identify convergences
between primary concepts and their final effects; and
(3) head concepts, which indicate the final effects.
Thus, in step 4, a basic cognitive map was elaborated for each processed
interview. This was accomplished with the aid of a mapping software, having
as input the concepts generated in the content analysis of step 3. At the end of
this section we provide information on the software used.
Next, in step 5, each basic map and its links were reviewed with each
interviewee and the relationships between concepts were analysed in terms of
two aspects: domain and centrality.
Figure 2.
General structure of a
cognitive map
10. The domain analysis examines each concept and calculates how many Industrial cluster
concepts are “immediately” linked to it. It provides a first level measure of the strategic
density of a concept and serves mainly as a support to selective examination analysis
when working with large and complex maps.
The centrality analysis examines each concept and calculates a “centrality
score” based on how many concepts are directly or indirectly linked to it.
Through centrality analysis it is possible to identify which concepts have a
1003
high density of links and thus a high weight on the entire map; these are
considered to be “central concepts”. This analysis may provide some insight
into discovering which concepts are key issues and may need further
examination in order to identify evidences of their strategic nature.
In step 6, the basic maps generated were compared and similarities between
them were identified. Then, in step 7, maps were combined and merged into
new ones, called intermediary maps.
In step 8 the intermediary maps were validated in a series of meetings with
the entire group of experts. In these meetings, mediated by a negotiation
process within the group, the intermediary maps were reviewed one by one and
relationships between them were identified.
The negotiation and established relations between maps led to the
emergence of a shared view among experts, represented by a global cognitive
map (step 9). At this step the group of experts concentrated on the content of
the generated global map in order to identify new relationships among the
individually generated concepts. It is the global view at this step of the method
that allows for the possibility of a synthesis and of a new view of the data.
The global map with all relationships between concepts validated is the
input to step 10, which consisted of identifying the strategic resources and
capabilities of the cluster of firms. This was accomplished by the means of a
centrality score for each concept, this time calculated for the global map. Since
the map is a representation of history, knowledge and the inter-related
resources and capabilities of the cluster, each concept with a high centrality
score was judged by the group of experts on whether or not it represents a
strategic resource or capability.
Cognitive mapping with the aid of a mapping software
The identification of a collection of strategic resources and capabilities of a firm
or a cluster of firms requires analysis of a complex web of information and
cause-effect relationships between concepts. Mapping software can be very
useful aids in this process. In our research we made use of the software COPE,
developed at the University of Strathclyde, Scotland. It belongs to the category
of tools called IGDSS (interactive group decision support systems), which make
use of graphic resources that allow members of a group to acquire a shared
global perspective on a complex problem.
11. IJOPM The case of the southern Brazil wine cluster
23,9 According to the Office International de la Vigne et du Vin (OIV), wine
production activities are present in all five continents in more than 40 countries
(Tonietto and Carbonneau, 1999).
The world expansion of viniculture is intimately connected to the migratory
flows and to the process of fixation of the populations. Thus, in the early stages
1004 of development the choice of the ideal ecosystems did not constitute one of the
main concerns. Historical circumstances and economic needs demanded
sometimes, by lack of totally appropriate areas, art and ingenuity on the part of
the viticulturists in order to surpass the inadequacies of the physical
environment (Aguiar, 1999a).
Similarly to other industries, the wine business followed the progressive
globalisation of activities and internationalisation of markets. The product
“wine”, however, has some important peculiarities that must be mentioned. In
fact, as Aguiar (1999a, p. 25) points out, “wine is not a common merchandise: it
cannot be produced anywhere and must obey rules that are far more complex
than the simple minimisation of production costs”. According to the author, the
location of the vineyards, like any other unit of agro-industrial production, is
subject to the rules of competitive as well as comparative advantages; each area
has its own and they are more important and decisive for its image and position
in the market than production costs alone. In addition, the final product of the
wine industry is not a simple output of natural factors, but of a combination of
culture, talent and multiple and complex expertise. No producing area can be
simply classified as good or bad land, but as different in its potentialities. This
way, the exploration of each differentiating factor becomes necessary in the
formulation of cluster strategies.
Structural context
The evolution of the wine and grape business in southern Brazil is an
interesting example because, according to Aguiar (1999b), it constitutes
simultaneously a repository of the expertise brought by immigrants from their
original countries and the expression of adaptation capabilities to adverse
topographical conditions and climatic matters. Additionally, there is presently
an increasing awareness of the need for a qualitative upgrade towards a
strategic positioning that better exploits new market opportunities.
The Brazilian wine history dates back to the Portuguese colonisation in the
sixteenth century, even though its current development is due primarily to the
arrival of Italian immigrants, beginning in 1875. Brazil now occupies the 17th
position in the world ranking of wine producers and the wine and grape
business is a consolidated activity in 12 producing areas in the states of
´ ˜
Rio Grande do Sul, Santa Catarina, Parana, Sao Paulo, Minas Gerais and, of late
˜
prominence, the Sao Francisco Valley, in the northeast (Falcade and Mandelli,
1999).
12. The national production of wine in recent years averages approximately 300 Industrial cluster
million litres per year. The Brazilian wine and grape business is conducted, for strategic
its most part, in small family-owned properties, generally involving a great analysis
variety of grapes. About 65 per cent of the grape production is destined for
wine, juice, distilled and other derived products, while 35 per cent is destined
for consumption in natura. Southern Brazil’s wineries, mainly concentrated in
the state of Rio Grande do Sul, account for 93 per cent of the national
1005
production. The cluster object of this study is located in this state, averaging
about 120km from the capital city of Porto Alegre, and comprises about 400
wineries and family canteens.
One of Brazil’s main competitors is Argentina, with a production of 2.17
million litres/year. Being the main producer as well as the main consumer
market in the Mercosur area (a custom union formed by Argentina, Brazil,
Paraguay and Uruguay), this country stands out at the world level, being the
fourth largest producer and having the fourth highest per capita consumption
(40 litres per person/year), according to data from EMBRAPA (Brazilian
Agricultural Research Company). Compared to other countries, Brazilian wine
consumption is extremely low, limited to about two litres per person/year,
while in France and Italy it is around 70 litres per person/year. Thus, the
Brazilian wine market, rather than being considered unattractive, should be
looked at for its great expansion potential.
The Brazilian wine industry has been systematically searching for ways of
developing its potentialities to attain a better market position for its wines. The
present study aims at contributing towards this end and constitutes an
important first step in that direction, being useful for strategic decision making
for the cluster as a whole as well as for individual firms.
Results and discussion
The global cognitive map comprises 170 concepts. As a basis for discussion of
the results, Figure 3 presents a condensed view of the map, considering only
the concepts with higher centrality scores and their neighbouring links. For
identification purposes, each concept received a number, assigned by COPE as
it was registered in the cognitive map.
Analysing the map, we observe as starting points some initial events that
influenced the directions of the development trajectory adopted by the industry
(tail concepts 7 and 29). These events lead to abilities in mountain agriculture
(concept 11) and grape varieties adaptation (concept 26), which reveal a great
specialisation and path dependency; this is in turn related to the attributes of
long learning curve and thus high training costs demanded in technical schools
(concepts 145 and 22). Also, certain non-codified knowledge mentioned by the
experts (concepts 46 and 38) constitutes barriers to competition. Other
capabilities acquired by successive studies and experiments were the
exploration of topographical variations and climatic conditions (concepts 12,
13. IJOPM
23,9
1006
Figure 3.
Partial view of
cognitive map
24 and 33) that related with mountain agriculture (concept 11), leads to multiple
and unique wine types (concept 111). In turn, these multiple wine types
associated with the concept of mountain agriculture (concept 11) and the good
road infrastructure (concept 53) enables tourism exploration (concept 129),
which is one of the strategic advantages of the analysed cluster.
From the exploration of each part of the map, the group of experts was able
to identify many complex connections and paths between concepts, as well as
direct and indirect effects that unveil attributes related to their strategic nature.
The strategic resources and capabilities identified in this process are listed
in Table II, which also shows the attributes that sustain them as sources of
competitive advantage.
14. Strategic resources and capabilities Conditions that sustain competitive advantage
Industrial cluster
strategic
Expertise in exploitation of multiple Path dependence, topographical knowledge analysis
topographies with vineyards with long learning curve, non-codified
expertise
Tourist attractiveness of mountainous Immobility, inimitability
topography, exploitation of “mountain wine” 1007
concept
Grape varieties adaptation capabilities Path dependence, long term investments in
physical and personnel research structure
Increasing technology incorporation, selective Path dependence, long term investments in
technification of production without losing technical schools and research institutes
human “touch” in wine making
Small family-owned wineries with their own Path dependence, long term investments in
“family oenologists” technical schools and research institutes,
imperfect mobility
Potential for achieving “controlled origin”, Complexity, specialisation, adaptation,
wine authenticity and uniqueness inimitability, immobility
Collective efficiency, 400 wineries Complexity, co-specialisation, path
dependence, information asymmetries,
imperfect mobility Table II.
Long term contracts between wineries and Co-specialization Strategic resources and
grape-growers capabilities and their
Distinct climatic characteristics Specificity, inimitability sustainability
An important result from the analysis is that the strategic resources and
capabilities of the southern Brazil wine cluster have their own exclusive and
idiosyncratic characteristics that should be valued. Associated with the
tourism potential, the proximity of the capital city of Porto Alegre and the good
road infrastructure are at the origin of unique conditions for sustained
competitiveness.
Finally, it is necessary to note that these results represent the view of eight
experts and could possibly be enriched by a higher number of participants.
However, since the process of reaching consensus within a group is very time
consuming, this possible enrichment could be very costly.
Conclusion
Every company can be seen as a unique collection of resources and capabilities,
whose form of combination in productive use is dependent upon management’s
perceptions. Each one acts in the market limited by these perceptions and,
sometimes, does not explore its full potentialities. Enlarging these perceptions
is a major challenge, both for the companies and for the strategists that are
responsible for the formulation of industrial and regional development policies.
This study was conducted having as its central purpose the identification of
the strategic resources and capabilities of a cluster and their sustainability,
combining the resource-based perspective with cognitive mapping techniques
15. IJOPM as a basis for strategy formulation. Although RBV constructs are still in
23,9 consolidation, Peteraf’s (1993) framework has proven to be very useful and
insightful for pursued objective.
The approach used here also contributed to improving the understanding of
the linkages between firm-level resources, as highlighted by the RBV approach,
and the collective, systemic, and sector-wide resources of the industrial
1008 organisation tradition. Since firms are influenced by both types of resources,
industrial clusters’ as well as firms’ strategies must be formulated not only
from the point of view of individual resources and capabilities, but also taking
into account the collective and shared resources and capabilities of the whole
cluster. How to manage and co-ordinate this process in an integrated way
remains a challenge for practitioners and constitutes an important area for
empirical research.
It also became clear in this study that history matters and the cumulative
development and upgrading of resources and capabilities can fundamentally
shape the future strategic options of a cluster.
References
¸˜ ´
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