State of the art strategy

Question 1

What is the marked based view?

Answer 1

• Porter 1980
• Industrial econimics dominated; companies are seen as “Black Box”
• Deals with the competition in an industry; based on the idea that an industries attractiveness is determined by competitive constraints
• Strategies to achieve sustainable competitive advantage

Question 2

What is the Resource Based View?

Answer 2

• Hamel/Prahalad 1990; Penrose 1959
• Internal oriented approach. Business success is determined by distinct corporate resources, skills and capabilities (core competencies)
• Relevant are only those wich generate competitive advantage towards competition

Question 3

What is the knowledge based view?

Answer 3

• Grant/Spender 1990s
• Based on resource based view
• Knowledge is main competitive factor (determining element and most important resource to sustain competitive advantage)
• -> systematical knowledge management (generate, share, retain)

Question 4

What is the network based view?

Answer 4

• Jarillo 1988 / Sydow 1992 / Kutschker;Schmid 2003
• Strategic networks as a long-term, purposeful arrangement among disinct but related for-profit organizations that allow those firms in them to gain or sustain competitive advantage vis-a-vis their cometitors outside the network
• One participating company is strategic leader if the network (“hub firm”)
• Intra- and inter-organizational networks

–> competitive advantage through networks