The sociality of resources: Understanding organizational competitive advantage from a social perspective

This study investigates the influence of social structures on the meaning and value of resources. Although understanding resources from a sociological perspective is equally important for the competitive advantage of organizations, prior studies on what a resource is and how a resource becomes valuable have been conducted within an economic perspective. This study examines the meaning and value of resources within a social structure in order to extend the boundary conditions of existing research on resources. Based on a two‐step content analysis of the meaning and value of resources in Chinese universities, this study identifies three types of social‐oriented resources (resources that help organizations achieve social goals). These contrast with economic‐oriented resources (resources that help organizations achieve economic goals) in markets. We also find three strategies that create the value of social‐oriented resources. The findings regarding the meaning and value of social‐oriented resources uncover the sociality of resources that complement the economic perspective and highlight the importance of understanding organizational competitive advantage from a sociological perspective.