Is the resource-based "view" a useful perspective for strategic management research? Yes

Here I examine each of the major issues raised by Priem and Butler (this issue) about my 1991 article and subsequent resource-based research. While it turns out that Priem and Butler's direct criticisms of the 1991 article are unfounded, they do remind resource-based researchers of some important requirements of this kind of research. I also discuss some important issues not raised by Priem and Butler-the resolutions of which will be necessary if a more complete resource-based theory of strategic advantage is to be developed.