When I was chatting with John Wetenhall, director of the GW Museum, he mentioned a business analysis tool I had never heard of: VRIO. It was a surprisingly lively conversation about whether this corporate framework could apply to museums and historic sites—and it piqued my curiosity. Developed by Birger Wernerfelt in his landmark 1984 article “A Resource-Based View of the Firm,” and later refined by Jay Barney in “Firm Resources and Sustained Competitive Advantage” (1991), VRIO offers a way to evaluate whether an organization’s internal assets truly contribute to long-term success. The acronym stands for Value (does it help the organization exploit opportunities or neutralize threats?), Rarity (is it scarce among competitors?), Imitability (is it difficult to duplicate or substitute?), and Organization (is the organization structured to fully leverage it?).

What began as a theoretical framework for corporations turns out to have practical potential for cultural institutions as well. Tools like logic models and Porter’s Five Forces are helpful, but what about the museum’s internal capabilities? How do we know if our collections, staff, or community ties are truly strategic advantages? Two articles by Paul Knott at the University of Christ Church (New Zealand) offer guidance by critically examining the popular VRIO framework—and how it can work better for cultural institutions.

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Insight #1: Strengthening Strategy with an Expanded VRIO Model

In “Integrating Resource-Based Theory in a Practice-Relevant Form” (2009), Knott builds on the traditional VRIO model—Value, Rarity, Imitability, Organization—to create a more actionable and dynamic approach. He emphasizes that internal resources (like a museum’s brand, reputation, or community partnerships) are only strategic if they are used under the right conditions. Critically, he introduces a matrix that shows how the same resource can be a strength, weakness, missed opportunity, or rigidity depending on how it’s managed. This is a significant improvement over the traditional SWOT exercise because it requires you to evaluate each asset or resource with specific questions.

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