Competitive advantage implies the creation of a system that has a unique advantage over competitors. With the advent of globalization, the competition has become stronger and can be located anywhere in the world. The idea behind competitive advantage is to create customer value in an efficient and sustainable way. One approach to address this issue would be the use of resource-based theories of competitive advantage.

Resources are not simply raw materials but include all the inputs, such as intellectual capital, necessary to produce a good or service. Consider this as you address globalization strategies for Fortune 500 firms in this assignment. Be mindful of constraints, such as transportation costs and cultural barriers, as you complete this assignment.

Review the article Resource-Based Theories of Competitive Advantage: A Ten-Year Retrospective on the Resource-Based View by J. B. Barney from the readings for this module.

Based on your analysis of this article and other readings for this module, respond to the following:

• Explain how resource-based competitive advantage drives globalization strategies for Fortune 500 firms.
• Why are application of project management principles critical to effective business operations?

Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99″120. (ProQuest Document ID: 215258436)http://search.proquest.com.libproxy.edmc.edu/docview/215258436?accountid=34899

Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year retrospective on the resource-based view. Journal of Management, 27(6), 643″650. Retrieved fromhttp://jom.sagepub.com.libproxy.edmc.edu/content/27/6/643.full.pdf+html

ByF Sunday, November 14, 2014, post your response to the appropriateDiscussion Area. Through Wednesday, November 19, 2014, review and comment on at least two peers” responses.

Write your initial response in 300″500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation

Do the following when responding to your peers:

• Read your peers” answers.
• Provide substantive comments by
  • contributing new, relevant information from course readings, Web sites, or other sources;
  • building on the remarks or questions of others; or
  • sharing practical examples of key concepts from your professional or personal experiences
• Respond to feedback on your posting and provide feedback to other students on their ideas.
• Make sure your writing
  • is clear, concise, and organized;
  • demonstrates ethical scholarship in accurate representation and attribution of sources; and
  • displays accurate spelling, grammar, and punctuation.

Grading Criteria