It is always best to start with a definition. A resource-based view of business emphasizes two points: the importance of assessing the available assets a company possesses, and the importance of gaining market edge by using these assets in a strategic manner.
This relevance of this approach is clear, especially in a global environment for a few reasons. First, all firms should know what they possess and how these assets can be used. Second, in a global environment, it is important to also see how the firm's assets can be used in various parts of the world. When a firm does this, it may realize that certain assets are valuable and rare thus provide global competitive advantage.