In this paper, we extend the resource-based theory of the firm to show that it can be used to analyse the effectiveness of competitive strategies. Specifically, we demonstrate that political strategies aimed at raising rivals' costs by blocking the use of substitute resources may create the opportunity for a firm to capitalize on resources that are valuable, rare, and costly to imitate. The uses of political activity to block the availability of substitute resources are discussed in detail and examples are provided to demonstrate how such strategies are used and to illustrate how successful they may be. This is an important extension of the resource-based theory because it demonstrates how the theory can be applied by researchers and practitioners.

Practitioner surveys suggest that despite well-intentioned efforts, undergraduate business programs could better equip students with "soft skills." This research study focuses on the soft skills associated with cross-functional integration (CFI), where skill gaps are believed to exist but have not been confirmed. As the first study to specifically characterize and measure CFI skills, we argue that even in the best-case scenario, a small CFI-skills gap could persist, and that the primary goal of business programs is to minimize, not eliminate, the gap. We assert that an instrument that measures CFI skills on three dimensions (cross-functional collaboration, cross-functional coordination, and cross-functional communication) provides a critical starting point in the identification and management of the CFI skills gap. We adapt and validate such an instrument, test it with a sample of 160 business students and 160 hiring managers, and find statistically significant gaps at the construct and dimensional level. However, the magnitude of the gaps is not large, suggesting that business schools may be doing a good job of managing the CFI skills gap. Our assessment instrument is a valuable tool for companies that wish to diagnose and address CFI skills challenges.

Purpose Numerous core concepts in the field of strategic management lack a clear definition or receive relatively little attention in most traditional strategic management classes with the concept of “implementation” being chief among them. The authors explore and describe one of the most important steps of implementation, the strategic plan launch project. It is the first impression that stakeholders have of what changes the company will be making to its business model, which businesses or departments will receive increased or decreased financial support, and the sense of urgency and prioritization the company is attaching to its new program. Design/methodology/approach Based on extensive executive and consulting experience, plus a review of existing scholarly literature, a seven-step model is described and explained that includes best practices for the final steps of formulation through the initial phase of implementation. Findings The authors could not find any academic literature on how companies finish the formulation process and transition into an efficient and effective deployment of the plan. It is critical to clarify at least two kinds of budgets and clearly designate authorities prior to gaining board approval. Thereafter, a well-developed dissemination and launch project is necessary for clear communication of strategic intent and objectives. Originality/value This paper fills in a critical gap in scholarly literature while providing practitioners with a foundational model to help organize and monitor the successful launch of a new organizational strategy.