For enterprises,strategic value of resources and skills vary with different operational stages of development.To maintain the state of advantageous operation in the process of development,the resources and skills of enterprises must be updated and adjusted,and the equilibrium state of development is bound to be broken through at the stable stage of operation.Because of the distinction of resources and skills necessary for activities of division at different operating stages,the only way for enterprises to preserve the strategic value of core activities is to exploit and integrate resources and skills.The strategic value of core activities in the enterprise's advantageous operation springs from the participation of resources and skills in the activities of substitutionary division.