Due Date: Aug 30, XXXXXXXXXX:59:59 Max Points: 200 Details: Theories explain how and why managers and enterprises behave and perform as they do. This assignment helps you to synthesize the theories...

Running Head: Business Theories
Business Theories
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Business Theories
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Table of Contents
1. Introduction……………………………………………………………………………………3
2. Body………………………………………………………………………………………….3- 8
3. Conclusion……………………………………………………………………………………..8
4. References……………………………………………………………………………………..9
Business Theories
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1.0 Introduction
Business theories always helps the managers to attain the goals and objectives. Most of the
international organizations are giving importance to business theories for attaining the
competitive advantage. According to the words of Thomas (2015) business theories helps the
organization for developing productive strategies and plans. In order for formulating effective
plans and policies the companies required the support of employees. Most of the companies are
interested to hire candidates who have some knowledge in business theories and other related
aspects. In this paper we can focusing the development of different business. We are also
considering the difference and similarities of resource-based theory (RBT), complexity theory,
complex network theory, statistical learning theory, and game theory in a detailed way.
2.0 Body
2.1 Development of Business Theories
Every time we can able to see the changes happening to the world and business in an effective
way, whatever the changes happens to the environment it will directly influence the business in
an productive way. We can able to see that, lot of theories have been developed with respect to
the management of the organization, such as people management and organizational theory.
Each theories and concepts direct the organization to achieve their goals in an active way. While
considering these theories we also have to understand the contribution made by great
management guru, Peter F Drucker, who can be called as the one of the world’s foremost and
influential authorities in the management theory.
Business Theories
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2.2 Resource based Research
As per the report of Business Insider (2010), resources are required for the organizations to
achieve the goals and objectives in a productive way. Most of international organizations are
giving importance to the resource based view model for managing the competition in an active
way. According to the Wernerfelt, B (1980) internal resources are more helpful for companies
for attaining the competitive edge. We know the fact that most of the international business
organizations are trying to achieve sustainable competitive advantage. With RBV model they
can able to achieve this objective in an active way. The RBV approach states that internal
esources are more important than external factors in developing a competitive edge. Now we
can analyze three categories of internal resources considered RBV.
• Physical-capital resources
• Human-capital resources
• Organizational-capital resources
Companies required physical capital resources for managing the demands of the customers in an
effective way (Soda et al 2017, p.348). We know the fact the in order to managing the
competition from the international players the company Toyota introduced Toyota production
system for creating quality products and services. For a company physical capital...