The theories of strategic management based on the heterogeneity of resources are of great interest but present severe limitations : imprecision and unobservability of mobilized concepts, impossibility to generalize conclusions, ex-post, tautological explanations of performance. Strategic processes combine resources and competencies to produce value for a customer. They are observable and they can explain firm performances more direcly than resources or competencies.
LORINO, P. and TARONDEAU, J.C. (1997). Une approche de la stratégie fondée sur les processus.