Asset Stock Accumulation and Sustainability of Competitive Advantage

Abstract Recently, a number of scholars have expressed the concern that much of the strategy literature focuses too narrowly on privileged product market positions as a basis for competitive advantage and above-normal returns (e.g., Gabel 1984; Wernerfelt 1984; Barney 1986). The fact that resource bundles need to be deployed to achieve or protect such privileged product market positions is often overlooked.