resource-based
UK[rɪˈzɔːs beɪst]US[ˈriːsɔːrs beɪst]
adj
(of an economy, company, or strategy) deriving its strength or competitive advantage primarily from the possession and exploitation of natural resources or specific assets.
adj
(of a theory or model) focusing on the role of an organization's internal resources as the foundation for its strategy and performance.
Morpheme Breakdown
resource
based
resource
asset
based
founded on
Etymology
The term "resource-based" is a modern compound adjective formed within the English language. Its first element, "resource," carries the historical sense of a source of supply or support, a notion that evolved from the Latin concept of something that "rises again" to provide aid. The second element, "based," originates from the architectural and foundational meaning of "basis." When combined in the mid-to-late 20th century, particularly in business and economic contexts, the term logically constructs the meaning of an entity whose strategy, advantage, or existence is fundamentally founded upon its specific assets or sources of supply. This reflects a conceptual shift towards analyzing internal capabilities as the primary source of competitive strength.
Analysis
Structure: resource (asset) + based (founded on)
resource: From Old French resourse, meaning "a source, a spring, a means of relief," from Latin resurgere ("to rise again"). In this compound, it functions as a noun acting as a modifier, denoting the foundational assets.
based: From the past participle of the verb base, from Old French baser ("to lower, to found"), from Latin basis ("foundation, pedestal"). In this compound, it functions as an adjectival suffix meaning "having as a foundation or primary source."
Examples
The country is moving away from a resource-based economy towards a more diversified, knowledge-driven model.
The resource-based view of the firm is a influential theory in strategic management.
Their competitive strategy is resource-based, relying heavily on exclusive access to rare minerals.