In search for the unique: can firm-specific advantages be evaluated?
Article Abstract:
Strategy, whatever its different definitions, entails an attempt by a firm to achieve and sustain competitive advantage against other firms. Competitiev advantage can be achieved if the firm is able to be different. Success is based on using a unique strategy. Success is defined as the ability to gain abnormal profits, not simply to stay alive in a competitive industry. The ability to protect the uniqueness against imitators ensures continued success. Strategy theory research is diverse, and can be divided into distinct schools of thought. Certain researchers describe thee process of strategy formation. Others are prescriptive, concerned with analytical tools for strategy formulation. Among strategy content researchers, much recent research concentrates on industry analysis techniques. Since strategy is defined as the ability to gain an advantage, a cross-sectional study of industry conditions can show the constraints on such a strategy, but is far less useful in defining how to achieve and sustain a competitive advantage. A critical aspect in understanding competitive advantage is that of the identification of firm-specific advantages, particularly in an outlying rather than the average 'representative' firm. The process by which managers of such firms gain insights on strategic vision often affects the results. This article calls for understanding the unique or - as a minimum - learning to recognize uniqueness (e.g. as someone running a venture fund reviewing proposals for investment). It is concerned with how a strategy can be evaluated ex ante by outsiders to predict its probability of success. The strategy research field is not mature enough to settle on only some conceptual boxes. The article also calls for several accepted modes of investigation, including history and political behavior, to understand better the process by which firms attempt to achieve unique advantages and the evolution of resource deployment. (Reprinted by permission of the publisher.)
Publication Name: Journal of Management Studies
Subject: Business, general
ISSN: 0022-2380
Year: 1993
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The relevance of strategy research: practitioner and academic viewpoints
Article Abstract:
It is important for strategy research to have practical relevance given its professional orientation. The differing perspectives of academics and managers and the rapid development of the field of strategic management suggests a need to address the field's future direction. In this paper, a practitioner's agenda for the field is developed based on a survey of chief executive officers (CEOs) of majors US corporations. A comparison of this agenda with one generated by academics highlights the differences between the two constituencies concerning issues of relevance for the future. Compared to academics, CEOs emphasize operating issues; disagree on the priority of strategic issues; and are generally unfamiliar with research-based journals. The two agendas should be viewed as complementary. Some implications for the field are discussed and suggestions made for dealing with the issue of relevance in future research and communicating the results to managers. (Reprinted by permission of the publisher.)
Publication Name: Journal of Management Studies
Subject: Business, general
ISSN: 0022-2380
Year: 1995
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Linking competitive strategy and manufacturing process technology
Article Abstract:
This paper presents an empirically grounded study of the linkages between competitive strategy and manufacturing technology for 20 small manufacturers. It identifies the nature of strategy-technology linkages, the process by which the two align, the market and customer forces driving this alignment, and the consequences of failing to adopt appropriate new technologies. The paper proposes five propositions which are developed into a dynamic strategy-technology linkage model. (Reprinted by permission of the publisher.)
Publication Name: Journal of Management Studies
Subject: Business, general
ISSN: 0022-2380
Year: 1995
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