Essay on The Resource-Based View of The Firm in Two Environments, The Hollywood Film Studios From 1936 To 1965

The research derives a predictive classification method that can be categorized as knowledge based resources and property based resources. The second argument is related to the performance implications and resources that differ from the predicted environment. The research uses different eras where first one is predictability and stability. Second is change, upheaval, and uncertainty. The respective advantages are knowledge based resources and property based resources that are different from each category. The research interpret customer desires and respond to the emerging trends of market.

If the communication between different departments of organization is not seamless or there is communication gap, then organization will not work properly. To be able to effectively archive goals the organization must work on its communication channels. There should be seamless flow of information from leadership to rest of the organization. To overcome this problem a proper communication strategy must be developed. Strategy should follow top down approach with senior management acting as the centre of the communication channel. A budget should be assigned specifically to provide for communication technologies that must be implemented to overcome gaps. Employees should be given training on latest communication techniques and tools to enhance their capabilities. There should be a mechanism which responds to employees’ issues quickly.  The organization faces problems mostly because of behaviours of people and lack of proper communication structure. To overcome problems organization must pinpoint critical areas and work on communication gaps. A proper communication channel will help leadership in making smart decisions for the organization. Organization should leverage all communication resources to effectively address the issues. Accountability can also play a key role in managing problems within organizations.Employees are asset of an organization. They need to be trained properly to enhance their knowledge and skillset. Although training employees is expensive and requires resources, but ultimately it pays off in a good way. The employee’s that go through training process perform well as compared to untrained employees. The training helps them realize their true potential. It also helps them build up their confidence level. Employees who are well trained and are competent will strengthen your company’s position in the market. Training also helps employees in overcoming their weaknesses and allows them to work on areas where they are lacking. An employee development program helps employees in achieving higher level in the organization and make decisions effectively. Employees are the biggest resource of the company.

The study examines only two historical eras. Also, it focused on resources that are relevant to film industry. There is a need of further research needed to be done in order to find out effectiveness of this framework. Both knowledge-based resources and property-based resources need further research to be able to find their effectiveness in different sectors of the economy.

References of The Resource-Based View of The Firm in Two Environments, The Hollywood Film Studios From 1936 To 1965

Wiklund, J. & Shepherd, D., 2003. KNOWLEDGE-BASED RESOURCES,. Strategic Management Journal, pp. 1307-1314.