How can the Resource$-$Based View $($RBV$)$ theory be applied to analyze sustained competitive advantage within a business context? Explore the key components of RBV$,$ such as tangible and intangible resources, capabilities, and core competencies. Discuss how firms can leverage these resources to achieve a sustainable competitive advantage over rivals. Furthermore, delve into the role of dynamic capabilities in adapting to changing environments and sustaining competitive advantage over the long term. Evaluate the challenges and limitations of applying RBV theory in practice, considering factors like resource heterogeneity, immobility, and substitutability. How do firms identify, develop, and protect their strategic resources to maintain their competitive position in the market? Additionally, analyze the implications of RBV theory for strategic decision$-$making, organizational design, and resource allocation within businesses.