THE MANAGEMENT OF RESOURCES AND THE RESOURCE OF MANAGEMENT

The resource-based approach of deductive economics, the dynamic capabilities approach of strategy process, and organization theory research on organizational learning need to be joined in the next generation of resource-based research. This suggested redirection of resource-based research implies a return to a ''resource-learning'' theory of the firm begun by Penrose (published 1959). A synthesis of resource-based theory and learning theory allows us to examine how two sources of firm heterogeneity (resources and mental models) are intertwined.