Towards an integrated perspective of strategy

Abstract

Purpose -The purpose of this paper is to provide a conceptual tool that would help managers to integrate the findings from strategy frameworks such as the value chain, the five forces or the VRIO framework by jointly analyzing the different levers of competitive advantage. Design/methodology/approach -Building on the extant literature the paper develops a strategy framework that integrates the internal and external dimensions of strategy formulation. To illustrate a practical application of the value-process framework, the paper presents a case study of a project at the German music corporation Sony BMG. Findings -The value-process framework serves managers as a conceptually unifying analysis tool that contributes to their understanding of the main levers that help to create a sustainable competitive advantage. The framework can be used to visually integrate isolated strategy frameworks by jointly analyzing the different levers of competitive advantage, and to develop consistent and integrated strategies that simultaneously take into account the internal and external perspectives of strategic decision making. Originality/value -While the existing strategy literature is good at providing specific concepts and tools of strategy analysis, it rarely connects the different dimensions and points out their interdependencies. As a result, strategic analyses are often fragmented and isolated from their broader context. The value-process framework aims to provide an overarching perspective that helps to integrate the different dimensions of strategy formulation.

Can Firms’ Market Performance Be Explained Better? Role of Strategy, Sustainability Levers

“…Practitioners observed the validity of such frameworks since much of the organization's performance and basis for competitive advantage could be explained using such frameworks. Besides researchers also noted the strands of thought emerging from active criticisms of the theory [15,16] and this led to further strengthening of the field of inquiry directed at the market performance of firms. Closely intertwined, yet accounting for the changing nature of the business environment, incrementally advanced theories such as the dynamic capabilities [17,18,19] sought to explain the dexterity of firms which helped enhance their capabilities in alignment with the demands of the external environment.…”

Kontribusi Rantai Nilai Terhadap Peningkatan Daya Saing Perikanan Tuna Di Kabupaten Cilacap Dan Sekitarnya

“…Klaster mendorong industri untuk bersaing satu sama lain. Nilai penggunaan gabungan sama dengan jumlah nilai yang dirasakan dari berbagai hasil aktivitas bisnis dan total biaya yang dikeluarkan (Ebders et al, 2000).…”

Operations strategy frameworks in manufacturing, services and product-service systems

“…It has evolved from cost to quality and delivery and flexibility, being nowadays more focused on innovation and customer service [32]. Also, products are not only valued by functionality, but also by the brand [9,26], that makes a statement about a living style and a positioning in society [26].…”

“…Briefly, the purpose of OS is that organizations properly use their competencies, processes and resources to achieve a strong competitive advantage [6], and successfully create value for customers and stakeholders [7]. However, considering Porter's work [8], Enders et al [9] agree that creating superior value for customers is not sufficient to insure profits; the company must succeed in capturing value. Strategy should be a nonstop learning process as markets are now global and their settings are always changing.…”