Critically review how the resource-based view has developed our understanding of strategy

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The paper explores the ambiguity surrounding the definition and implementation of strategy in business management. It emphasizes that the primary goal of any business is profit maximization, achieved through competitive advantage. The discussion highlights the importance of strategy as a tool for managing and guiding a business within its environment, aiming for a favorable market position. Key references include influential thinkers like Rumelt and Porter, illustrating foundational concepts in strategic management.