Structure-Conduct-Performance, Resource-Based View and Business Strategy

2014 ◽  
Vol 3 (4) ◽  
pp. 113
Author(s):  
Jing Luo
Keyword(s):  
Business Strategy ◽  
Resource Based View

scholarly journals Socializing a Knowledge Strategy

2009 ◽  
pp. 320-350
Author(s):  
Peter H. Jones
Keyword(s):  
Business Strategy ◽  
Business Processes ◽  
Structuration Theory ◽  
Organizational Knowledge ◽  
Resource Based View ◽  
Knowledge Resources ◽  
Process Redesign ◽  
Strategic Intent ◽  
Knowledge Strategy ◽  
Agency And Structure

Proponents of the resource-based view of strategic management have argued for processes that align organizational knowledge resources to business strategy. In this view, a unique competitive advantage accrues from accelerating organizational learning and non-appropriable knowledge. An empirical approach known as socialization counters theories of both institutionalization and “strategic alignment.” Socialization diffuses an organization’s knowledge strategy through values leadership and practice-led process redesign. Consistent with structuration theory (interaction of agency and structure), socialization creates enduring, flexible process structures co-constructed by leaders and participants in a domain of practice. Socialization results in durable, accessible processes, uniquely configured to business strategy, and more resilient than acquired process structures. Values leadership orients participants toward the goals, meaning, and value of organizational knowledge inherent in indigenous processes. Socialized business processes are driven by strategic intent, are non-appropriable by competitors, and are oriented to enduring organizational values that protect process integrity. A socialization approach integrates practice-level internal knowledge networks to support business processes and strategy, leveraging and exchanging knowledge more effectively than authoritative (“top-down”) institutionalization.

scholarly journals THE HARMONIZED EFFECTS OF GENERIC STRATEGIES AND BUSINESS CAPABILITIES ON BUSINESS PERFORMANCE

2010 ◽  
Vol 11 (4) ◽  
pp. 689-711 ◽  
Author(s):  
Avni Zafer Acar ◽  
Cemal Zehir
Keyword(s):  
Information System ◽  
Business Strategy ◽  
Business Performance ◽  
Manufacturing Firms ◽  
Positioning Theory ◽  
Research Model ◽  
Main Subject ◽  
Resource Based View ◽  
Key Variables ◽  
Generic Strategies

Resource‐based view and the positioning theory are the two main approaches which are considered as contrary to each other in order to achieve competitive advantage and superior business performance. In this study, the main subject is to harmonize these two theories with a research model which is based on the assumption that business strategy is more effective when pursued with related capabilities. To perform the study, we conducted a questionnaire survey with 445 owners/executives of manufacturing firms. We measured business capabilities in terms of management, production, marketing‐sales, information system, logistics and external relationship dimensions. Component factors and key variables for the constructs, which are identified through a literature review, are confirmed using AMOS 16.0. Then data have been analyzed to test the hypothesis by using SPSS 15.0. As a result, separate and harmonized effects of business capabilities (BC) and generic strategies (GS) on business performance have been examined. Santrauka Ištekliais pagristas požiūris ir pozicionavimo teorijos yra du pagrindiniai požiūriai, prieštaraujantys vienas kitam siekiant konkurencinio pranašumo ir aukščiausio verslo efektyvumo. Pagrindinis šio tyrimo objektas – minetuju teoriju suderinimas taikant tyrimo modeli, kuris grindžiamas prielaida, kad verslo strategija yra efektyvesne, kai vykdoma atsižvelgiant i verslo galimybes. Tyrimui parengta anketine apklausa. Apklausti 445 gamybos imoniu savininkai ir (arba) vadovai. Vertintos verslo galimybes pagal valdyma, gamyba, rinkodara, pardavima, informacine sistema, logistika ir išorinius santykius. Sudetiniu veiksniu ir pagrindiniu kintamuju sudetis, nustatyta remiantis literatūros apžvalga, patvirtinta taikant AMOS 16.0. Norint tai patvirtinti hipotezemis, buvo analizuojami duomenys naudojantis SPSS 15.0. Galiausiai buvo tiriamas atskiras bei darnus verslo galimybiu ir bendru strategiju poveikis verslo efektyvumui.

The Resource-Based View of the Firm

2019 ◽  
Author(s):  
Douglas Miller
Keyword(s):  
Business Strategy ◽  
Dynamic Capabilities ◽  
Corporate Strategy ◽  
Chicago School ◽  
Organizational Economics ◽  
Resource Based View ◽  
Knowledge Based ◽  
Sustained Competitive Advantage ◽  
Industry Competition ◽  
Isolating Mechanisms

The Resource-Based View of the firm (RBV) is a set of related theories sharing the assumptions of resource heterogeneity and resource immobility across firms. In this view, a firm is a bundle of resources, capabilities, or routines which create value and cannot be easily imitated or appropriated by competitors due to isolating mechanisms. Grounded in the economic traditions of the “Chicago School” of economic efficiency, the “Austrian School” of economics, and organizational economics, the RBV comprises theories that explain the existence of (sustained) competitive advantage and of economic rents. Empirical research from this perspective addresses both firm performance and firm behavior at the level of business strategy (e.g., within-industry competition) and corporate strategy (e.g., acquisitions). Initially developed through a series of papers by several authors in the 1980s–1990s, major extensions and refinements of the RBV include the knowledge-based view of the firm (KBV), dynamic capabilities, and the relational view, which recognizes capabilities can be developed and shared through alliances between firms.

Dynamic Capabilities

Management ◽  
2020 ◽  
Author(s):  
Anja Tuschke ◽  
Emma Buellet
Keyword(s):  
Strategic Management ◽  
Competitive Advantage ◽  
Business Strategy ◽  
Dynamic Capabilities ◽  
Evolutionary Economics ◽  
Empirical Work ◽  
Sustainable Competitive Advantage ◽  
Vast Number ◽  
Resource Based View ◽  
Dynamic Capabilities Perspective

As a relatively young, yet flagship discipline of strategic management, dynamic capabilities research has emerged as one of the central perspectives exploring the foundations of the achievement of sustainable competitive advantage, especially in the context of dynamic environments. Dynamic capabilities are deeply rooted in, and sometimes seen as an extension of, the resource-based view of the firm. The notion that competitive advantage both stems from the exploitation of current capabilities and the development of new ones was already vaguely conceptualized by prominent contributors of the resource-based view such as Edith Penrose and Birger Wernerfelt. However, the idea that there are special capabilities—dynamic capabilities—enabling organizations to build, integrate, or reconfigure their internal and external resource and competence base, was formerly conceptualized in the late 1990s as a separate yet connected stream of research (see Teece, et al. 1997—cited under Seminal Papers—which is titled “Dynamic Capabilities and Strategic Management”). The dynamic capabilities perspective is also strongly connected to evolutionary economics. This is why the field has focused for some time on the exploration of semi-automatic and path-dependent routines as the foundation of dynamic capabilities. However, proponents of the behavioral theory of the firm have criticized this approach and integrated the deliberate human element in the dynamic capabilities perspective (for an overview of the theoretical assumptions underpinning the dynamic capabilities perspective, see the article “Dynamic Capabilities and the Role of Managers in Business Strategy and Economic Performance”—Augier and Teece 2009, cited under Conceptual Refinements). As a result, various important debates emerged in the community and the field has been generally criticized for its ambiguity, inconsistency, and conflicting assumptions. This is exemplified by the important number of diverging conceptual contributions to the field, still up to this day, and by the relatively late materialization of empirical work. Nevertheless, the vast number of contributions illustrates the necessity to consider dynamism, which underlies the concept of dynamic capabilities, as a key component of competitive advantage and organizational adaption (see the separate Oxford Bibliographies in Management article “Organizational Adaptation”). The key contributors of the dynamic capabilities perspective in management research are, among others, Kathleen Eisenhardt, Constance Helfat, Margaret Peteraf, David Teece, and Sidney Winter. To support scholars to move toward a theory of dynamic capabilities, this bibliography provides an overview of the field, its origin and developments, while highlighting the conceptual and empirical problems that remain to be solved.

CO-OPETITION STRATEGY FROM THE PATENT ANALYSIS PERSPECTIVE: THE CASE OF THE STENT MARKET

2007 ◽  
Vol 04 (02) ◽  
pp. 137-153 ◽  
Author(s):  
KUEI-KUEI LAI ◽  
FANG-PEI SU ◽  
CALVIN S. WENG ◽  
CHIAU-LING CHEN
Keyword(s):  
Business Strategy ◽  
Business Performance ◽  
Critical Issue ◽  
Patent Analysis ◽  
Sustainable Competitive Advantage ◽  
Resource Based View ◽  
Patent Information ◽  
Patent Rights ◽  
The Relationship ◽  
Technological Strength

Information about technological innovation and its evolutionary path can be explored by patent analysis. Therefore, for those firms which are dependant on large investments and a high business performance, such as stent manufacturers, integrating patent information with business strategy is the critical issue. The competition between stent manufactures is intensifying because of increasing global volume demand and improving technological performance. From a resource-based view, adopting a co-opetition strategy is essential for firms to keep sustainable competitive advantage. Over the last decade, patent rights have become a major tool of the co-opetition strategy. This study analyzes patent data from the USPTO during 1984 to 2005 and constructs patent information indicators to verify the process of technology evolution. On these grounds, we can understand the relative technological position and technological strength of the major manufacturers in this industry and also inspect their changes of position and business scope to examine the relationship between each firm's technology strategy and business strategy.

scholarly journals RAPID INTERNATIONALISATION: THE CRITICAL ROLE OF INTERNAL AND EXTERNAL FACTORS ON CAPABILITIES AND BUSINESS STRATEGY

2021 ◽  
Vol 6 (2) ◽  
Author(s):  
Sharmila Devi Vasu
Keyword(s):  
Business Strategy ◽  
Financial Risk ◽  
Critical Role ◽  
Internal Factors ◽  
Resource Based View ◽  
Strategic Behaviour ◽  
Internal And External Factors ◽  
Depth Interviews ◽  
Industry Trends

Grounded from resource-based view, network approach perspective, strategic behaviour theory, innovation theory and capabilities theory, this study proposed a model for rapid internationalisation of SMEs in Malaysia. In-depth interviews were conducted with selected firms in Malaysia to explore and identify the factors contributing to the firms' capabilities, business strategy and rapid internationalisation. This model provides further insight into the factors that leads them to rapid internationalisation. This paper found that technology, firm orientation, networking and founder's background and entrepreneurial characteristics as internal factors together with industry trends and environment are critical determinants of capabilities that lead to business strategy and rapid internationalisation. Apart from that, it was found that innovation plays a crucial role in IT based born global firms; it may not apply to all the firms. One of the firms interviewed has chosen creativity as their key role factor instead of innovation. Lastly, firms that do not require large capital are better off by avoiding external fund to reduce unnecessary financial risk. <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0795/a.php" alt="Hit counter" /></p>

scholarly journals Do institutions matter in business strategy? – The changing focus of strategic management to institutions: a literature review

2016 ◽  
pp. 2-11
Author(s):  
Balázs Felsmann
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Analytical Framework ◽  
Political Community ◽  
Institutional Factors ◽  
Economic Downturn ◽  
Resource Based View ◽  
State Involvement ◽  
Management Approaches ◽  
Market Capitalism

The post-crisis managerial literature emphasizes the roles of institutional factors in any disruption of the ecosystem of market capitalism and puts it in the middle of its analytical framework. It has become clear that nowadays, scientific discussions about the measure of increase of direct state involvement in certain economic areas has become more relevant. The socio-economic model based on market coordination was no doubt shaken by the crisis in 2008 across the world and inspired various representatives of the scientific and political community to revise their theses on coordination mechanisms that support the way out of an economic downturn. This paper intends to give a brief summary of the two leading strategic management approaches (Porter’s five forces and the resource-based view of the firm) on institutions. The author’s aim is to demonstrate that incorporation of the institution-based view into the mainstream theories can enrich the analytical framework of strategic management by providing deeper understanding of the contextual factors that underpin interactions between institutions and organizations.

Fostering sustainability: reinventing SME strategy in the new normal

foresight ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Meng Kui Hu ◽  
Daisy Mui Hung Kee
Keyword(s):  
Competitive Advantage ◽  
Business Strategy ◽  
Small And Medium Enterprises ◽  
Business Environment ◽  
Sustainable Competitive Advantage ◽  
Holistic View ◽  
Resource Based View ◽  
New Normal ◽  
Content Type ◽  
Subsequent Performance

Purpose This paper aims to deliberate the significant impacts caused by the COVID-19 pandemic on small and medium enterprises (SMEs). It also discusses SMEs’ practical approaches to capitalise on the renewed opportunity in the new normal by expanding their businesses regionally and globally. This paper also discusses the tactical and strategic interventions SMEs need to take to charge forward. Design/methodology/approach The resource-based view of the firm (Barney, 1991) is used to explain how SMEs develop a sustainable competitive advantage in the new normal. The resource-based view focuses on the link between strategy and firm internal resources. Drawing from the resource-based view of the firm, internal analysis of the resources that are regarded as sources of competitive advantage controlled by the SMEs is imperative in today’s business environment. Based on the resource-based view theory, this paper focuses on reinventing SME’s strategies in the new normal to foster sustainability. Findings Post-COVID-19 pandemic, SMEs must essentially be dynamic, forward-looking and transformational in capturing the regional and global markets’ opportunities. They need to sharpen their internal competencies and realign their effective business strategy in seizing the vast opportunities in the international markets. Practical implications How SMEs respond to COVID-19 has important implications for subsequent performance in the new normal. This study focuses on the different potential SMEs’ reactions to COVID-19 and how their strategy affects SMEs performance and fosters sustainability in the new normal. Social implications The sustainability of SMEs is critical for the nation’s socio-economy. This study offers a holistic view of how SMEs respond to their challenges and help them choose the right business options. Originality/value This paper’s contents are solidly based on accumulated evidence, observation and critical arguments on the impacts caused by the COVID-19 pandemic that caused numerous challenges faced by the SMEs, with a specific focus on SMEs operating in Malaysia.

scholarly journals Business strategy and marketing: The positioning versus resource-based dichotomy and the way forward

2002 ◽  
Vol 33 (3) ◽  
pp. 1-16 ◽  
Author(s):  
H. Oosthuizen
Keyword(s):  
Marketing Strategy ◽  
Conceptual Framework ◽  
Business Strategy ◽  
Reciprocal Relationship ◽  
Strategy Development ◽  
Integrated Marketing ◽  
Resource Based View ◽  
Marketing Function ◽  
The Relationship ◽  
Organisational Strategy

This paper explores the relationship that exists between business strategy and marketing strategy and how the latter may contribute towards the development of an integrated and systemic approach to organisation-wide strategy development. It finds that the two broad streams in strategy, namely positioning-based and resource-based have a reciprocal relationship and indeed complement each other. The link between business strategy and functional strategies, however, is unclear, particularly in the case of marketing strategy. This uncertainty is mainly attributable to the consideration that marketing strategy appears to be frozen within either a positioning or resource-based view. In this regard a conceptual framework has been proposed which combines the two business approaches into one integrated marketing mission approach. As such the marketing function performs a facilitating role in the formulation of overall organisational strategy in an integrative fashion.

scholarly journals Methodologies for using performance measurement

2011 ◽  
Vol 1 (1) ◽  
pp. 12-18
Author(s):  
Lino Cinquini ◽  
Falconer Mitchell ◽  
Hanne Nørreklit ◽  
Andrea Tenucci
Keyword(s):  
Performance Measurement ◽  
Competitive Advantage ◽  
Performance Management ◽  
Case Studies ◽  
Business Strategy ◽  
Analytical Data ◽  
Multinational Companies ◽  
Parent Company ◽  
Resource Based View ◽  
Pragmatic Constructivism

The speech explores the operational dynamics of a PMS at the interface between a parent company and its subsidiary. The research is based on two case studies. The companies are both subsidiaries of US multinational companies located in Italy. Both are market leaders of different sectors and governed by different strategic mentalities and managerial methodologies that reflect the specific business strategy adopted by the parent company. The methodologies of performance management in use by the two companies are addressed respectively as pragmatic constructivism and pre- categorized analytical data paradigm.Drawing on the narrative of the two cases we conclude that these two methodologies of performance management use support two alternative views of strategy: competitive advantage and resource-based view. The findings show that it is not simply the structure or technical design of a PMS that will determine its impact on an organization and ultimately its practical success but also the strategic mentality that underpins its functional rationale.

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