This paper introduces the concept of strategic advantage and distinguishes it from competitive advantage. This concept helps to explain the full nature of sustainable competitive advantage through uncovering the dynamics of resource-based strategy. A new classification of resources emerges, demonstrating that rents are more relevant than profits in the analysis of sustainable competitive advantage.
Aims to provide an overview of major work that has been carried out
in the area of strategy development in the past and outlines how it will
develop in the future. Presents an analysis of the term
“strategy”. Discusses the evolution of different conceptual
frameworks over time together with their impact on today′s understanding
of strategy formulation and implementation. Concludes by presenting the
requirements for a dynamic approach to strategy development together
with the way in which it can be realized.
This study questions the coupling of "intellectual" with "capital" and the assumption that such a coupling legitimises measurement. It suggests this coupling presents intellectual capital as an uncontested construction that attracts a broad audience.However, this study lays bare intellectual capital by revealing its contestability and multiple meanings using rational and non-rational management perspectives as examples. Such contestability can be seen both as a strength and weakness in making intellectual capital a meaningful or meaningless construction. Using a metalectic framework, a process is presented that exposes a variety of attitudes of mind so that the integration of rational and non-rational management perspectives becomes a possibility. Using this framework, intellectual labour is captured operating within an eco-work system, which relies on the human attributes of independency and interdependency working simultaneously. It suggests that intellectual capital can only indicate a direction when imagination, creativity and learning are at work. The intention is not to provide yet another management model that will control or change people's behaviours. This paper simply presents an alternative thinking process that accommodates a variety of attitudes of mind and argues that such a process is more appropriate than what is currently on offer if intellectual capital is to become more meaningful.
Successful organizations manage to change their strategy constantly
in line with the changes in their competitive environment by using a
dynamic approach to strategy formulation and implementation.
Demonstrates the way in which such an approach can be developed, using
the experiences of Hewlett‐Packard.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.