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Assessing the Relative Importance of Tangible and Intangible Resources: Empirical Results from the Forest Industry

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Abstract:

The importance of a diverse resource base to competitiveness of firms has been emphasized in resource-based view (RBV) literature and empirical studies done on various industries. Despite this emphasis, resource assessment methodologies within the RBV framework have been seldom approached, and the relative importance of different resources for business operations is not well understood. The data of the study were collected among large- and medium-sized sawmills within the Finnish forest industry. The objective of this study was to assess within the RBV framework the importance of tangible and intangible resources in business operations of sawmills. This was accomplished by introducing a multicriteria decision analysis (MCDA) method suitable for practical resource assessment. According to the results, personnel, managerial, raw material, and financial resources were the most crucial for sawmills. In the future, applying the MCDA to resource assessments could be combined, e.g., with a financial statement analysis to evaluate the effects of resource usage decisions on business performance.

Keywords: multicriteria decision analysis; resource assessments; resource-based view; sawmills

Document Type: Research Article

Publication date: October 1, 2008

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2015 Impact Factor: 1.702
    Ranking: 16 of 66 in forestry

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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