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Jay B. Barney | |
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| Born | October 8, 1954 Walnut Creek, California, U.S. |
| Nationality | American |
| Occupation | Professor |
| Children | 3 |
Jay B. Barney (born October 8, 1954) is an American professor in strategic management at the University of Utah. [1]
Jay Barney was born in Walnut Creek, California, on October 8, 1954. He spent his formative years in San Bruno, California and graduated from San Carlos High School in San Carlos, California in 1972. He attended Brigham Young University in Provo, Utah where he majored in sociology. He graduated from BYU, summa cum laude , in December 1974 and began the Doctor of Philosophy program in sociology at Yale University in New Haven, Connecticut in 1976.
Barney joined the faculty at the Anderson Graduate School of Management at UCLA in 1980. He moved to the Mays Business School at Texas A&M University in 1986, then to the Fisher College of Business at the Ohio State University in 1994, where he held the Chase Chair for Excellence in Corporate Strategy, [1] and then to the Eccles School of Business at the University of Utah in 2012, where he held the rank of Presidential Professor and the Lassonde Chair in Social Entrepreneurship. [2]
Professor Barney's 1991 paper[ which? ] has developed a framework for distinguishing among several different types of firm performance—i.e., competitive disadvantage, competitive parity, temporary competitive advantage, and sustained competitive advantage—and identified the attributes of resources and capabilities that would make them costly to imitate. This framework is known as the VRIO (Valuable, Rare, Costly to Imitate, and exploited by Organization).
In the mid-2000s[ when? ], Professor Barney worked with Dr. Sharon Alvarez to develop a new theoretical approach to the study of entrepreneurship.
Research topics that build directly on resource-based theory include The Knowledge-based Theory of the Firm, Relational View, Dynamic Capabilities, theories of core competence, and competitive heterogeneity.
Barney currently serves as the editor of the Academy of Management Review. [3]
Barney resides in Park City, Utah. He is married with three children. [4]
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
The word ‘dynamics’ appears frequently in discussions and writing about strategy, and is used in two distinct, though equally important senses.
Marketing strategy is an organization's promotional efforts to allocate its resources across a wide range of platforms, channels to increase its sales and achieve sustainable competitive advantage within its corresponding market.
Michael Eugene Porter is an American academic known for his theories on economics, business strategy, and social causes. He is the Bishop William Lawrence University Professor at Harvard Business School, and was one of the founders of the consulting firm The Monitor Group and FSG, a social impact consultancy. He is credited for creating Porter's five forces analysis, which is instrumental in business strategy development at present. He is generally regarded as the father of the modern strategy field. He is also regarded as one of the world's most influential thinkers on management and competitiveness as well as one of the most influential business strategists. His work has been recognized by governments, non governmental organizations and universities.
VRIO is a business analysis framework that forms part of a firm's larger strategic scheme, proposed by Jay Barney in 1991. The basic strategic process of any firm begins with a vision statement, and continues on through objectives, internal & external analysis, strategic choices, and strategic implementation.
The resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage.
The knowledge-based theory of the firm, or knowledge-based view (KBV), considers knowledge as an essentially important, scarce, and valuable resource in a firm. According to the knowledge-based theory of the firm, the possession of knowledge-based resources, known as intellectual capital, is essential in dynamic business environments. These resources contribute to lower costs, foster innovation and creativity, improve efficiencies, and deliver customer benefits. Collectively, they are considered key drivers of overall organizational performance. The proponents of the theory argue, that because knowledge-based resources are usually complex and difficult to imitate, different sources of knowledge and intellectual capital can be seen as the main sources for a sustainable competitive advantage.
In organizational theory, dynamic capability is the capability of an organization to purposefully adapt an organization's resource base. The concept was defined by David Teece, Gary Pisano and Amy Shuen, in their 1997 paper Dynamic Capabilities and Strategic Management, as the firm’s ability to engage in adapting, integrating, and reconfiguring internal and external organizational skills, resources, and functional competences to match the requirements of a changing environment.
Birger Wernerfelt is a Danish economist and management theorist, and JC Penney Professor of Management at the MIT Sloan School of Management. He is best known for “A Resource-based View of the Firm” (1984), which is one of the most cited papers in the social sciences.
Competitive heterogeneity is a concept from strategic management that examines why industries do not converge on one best way of doing things. In the view of strategic management scholars, the microeconomics of production and competition combine to predict that industries will be composed of identical firms offering identical products at identical prices. Deeper analyses of this topic were taken up in industrial organization economics by crossover economics/strategic-management scholars such as Harold Demsetz and Michael Porter. Demsetz argued that better-managed firms would make better products than their competitors. Such firms would translate better products or lower prices into higher levels of demand, which would lead to revenue growth. These firms would then be larger than the more poorly managed competitors.
The Strategic Management Society (SMS) is a professional society for the advancement of strategic management. The society consists of nearly 3,000 members representing various backgrounds and perspectives from more than eighty different countries. Membership is composed of academics, business practitioners, and consultants. The society has been credited with being a factor in the development of strategic management as a legitimate field of scholarly endeavor. The SMS publishes the Strategic Management Journal, Strategic Entrepreneurship Journal and the Global Strategy Journal.
A Corporate Social Entrepreneur (CSE) is someone who attempts to advance a social agenda in addition to a formal job role as part of a corporation. CSEs may or may not operate in organizational contexts that are predisposed toward corporate social responsibility. CSEs' concerns are with both the development of social capital and economic capital, and the formal job role of a CSE may not necessarily be connected with corporate social responsibility, nor does a CSE have to be in an executive or management position.
Nicolai Juul Foss is a Danish organizational theorist, and scholar of entrepreneurship and strategy. He is currently a professor at the Copenhagen Business School where he has spent most of his career. Foss' main contribution to organization theory is through the micro-foundational perspective in organization theory and management—examining how individual behaviors aggregate to affect the behavior of larger groups and organizations. He was made a Knight of the Order of the Dannebrog in 2015.
In management, the relational view by Jeffrey H. Dyer and Harbir Singh is a theory for considering networks and dyads of firms as the unit of analysis to explain relational rents, i.e., superior individual firm performance generated within that network/dyad. This view has later been extended by Lavie (2006).
Resource slack, in the business and management literature, is the level of availability of a resource. Resource slack can be considered as the opposite of resource scarcity or resource constraints.
Yves Doz is a French academic. He is a professor of strategic management at INSEAD, where he holds the Solvay Chaired Professorship of Technological Innovation, and is a Fellow of CEDEP. His research interests focus on innovation, the strategy and organization of multinational corporations, strategic alliances, and on how business organizations can develop the capability to adapt quickly to changes in competitive environments. More recently, he has been working with a number of national governments on strategic adaptability and agility. He is the author of numerous books and articles, which include the first comprehensive book on strategic alliances, co-authored with Gary Hamel, and the Multinational Mission, co-authored with CK Prahalad.
Entrepreneurial orientation (EO) is a firm-level strategic orientation which captures an organization's strategy-making practices, managerial philosophies, and firm behaviors that are entrepreneurial in nature. Entrepreneurial orientation has become one of the most established and researched constructs in the entrepreneurship literature. A general commonality among past conceptualizations of EO is the inclusion of innovativeness, proactiveness, and risk-taking as core defining aspects or dimensions of the orientation. EO has been shown to be a strong predictor of firm performance with a meta-analysis of past research indicating a correlation in magnitude roughly equivalent to the prescription of taking sleeping pills and getting better sleep. Still, some research has argued that EO does not enhance the performance for all firms. Instead, EO can be argued not to be a simple performance enhancing attribute but rather enhancing if it is applied under the right circumstances of the firm. In some cases, EO can even be disadvantageous for firms, if the situation of the firm does not fit with applying EO. Different situations can be the environment that the firm is situated within or internal situations such as structure and strategy.
Giovanni Battista Dagnino is an Italian economist and academic. He is the Chair of Management and Professor of Digital Strategy at the Libera Università Maria SS. Assunta University of Rome, where he is the Founding Director of the MSc Degree in Economics and Management.
Sharon F. Matusik is an American business strategy scholar, currently serving as dean of the University of Michigan Ross School of Business.
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