Jay Barney, a professor of entrepreneurship at the University of Utah, is among the world’s top scholars in strategic management.
“His early research was foundational in establishing what many would characterize as the most important theory and research stream to emerge within the field of strategy over the past 30 years—the resource-based view,” wrote one scholar in a letter of nomination for the Rosenblatt Prize. “But he has also been instrumental in shaping several other research streams, including foundational work in entrepreneurship and more recently in stakeholder theory.”
The resource-based view, or RBV, in strategy has revolutionized strategic management, serving as the dominant perspective for the past 25 years. Previously, the dominant view was that firms should operate in the most attractive industries.
“Professor Barney argued that firm leaders should instead emphasize looking inside the firm for resources that could create more value than other firms not possessing such resources,” a nominator wrote. “Subsequent empirical research offered overwhelming support for the general notions of the RBV and Professor Barney's specification of the factors that are likely to constitute durable advantages remains centrally influential to this day.”