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The purpose of this paper is to answer the question: how to extend resource-based theory to take into account the contribution of all kinds of resources (including the less regarded ones) to performance? While recognising the importance of strategic resources in building and sustaining a competitive advantage, the authors contend that a symmetric analysis of more available resources can shed new light on the sources and mechanisms of superior performance. Thus, they aim to contribute to an extended theory of resources.

Based on literature review and theorization process, the authors introduce alongside strategic resources, the concepts of “ordinary resources” and “junk resources”, showing how they may contribute to performance with an appropriate business model. Several illustrative cases are discussed to demonstrate that such resources need to be studied by resource-based theory (RBT).

The authors propose shifting the focus of RBT from the study of strategic resources alone in order to consider other types as well: ordinary and junk resources. Such an approach involves significant implications for strategic management theory and management practices.

The paper describes the conditions under which ordinary and junk resources (more available to most firms than strategic resources) may generate a competitive advantage. The extended resource-based theory can have implications for society as it may influence managers ' and public attitudes towards underestimated resources and lead to new business models.

The approach developed in this article also goes beyond traditional critiques of RBT. Specifically, the authors ' analysis avoids tautological reasoning, distinguishing between: resources; perceptions of their attributes by firms; the services these resources render; the business model implemented to deploy these resources; and the effects in terms of performance. The authors build an extended resource-based theory, allowing the contribution of various kinds of resources to firm performance to be explained.

Cooperatives are relatively understudied compared with investor-owned companies, yet their economic impact makes them important to consider. This study is to focus on business cooperatives that gather firms or entrepreneurs that share the same social and economic motivations and need to ally to grow. The positive and negative consequences of membership on the members’ business models are detailed. Insights to address and prevent the detrimental influences of membership on members’ business model are provided.

This conceptual study relies on several business cases to suggest that cooperative membership comes with positive and detrimental consequences for the three dimensions of members’ business models: their organization, resources and competences and value propositions (i.e. members’ offers).

Because organization, resources and competences, and value propositions are affected by membership in a cooperative, business members’ control over their own business models may diminish. This can offer positive consequences but may also be too constraining and harmful in the long term.

Only scant research has investigated the influence of cooperatives on members’ business models. Further studies could help firms and entrepreneurs maximize the advantages of their membership in cooperatives while limiting the detrimental consequences over time.

If they are aware of the potential drawbacks of business cooperative membership, members can implement proactive efforts to avoid losing control of their business models.

Prior literature mainly concentrates on how cooperatives work and develop. No prior study seems to have investigated the consequences of cooperatives’ membership on members’ business models.