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Strategic Management Theory: Concepts, Analysis and Critiques in Relation to Corporate Competitive Advantage from the Resource-based Philosophy

Author

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  • Claire Baldin

    (*, Université de Nice - Sophia Antipolis)

  • O.A. Eruola

    (International College of Management and Technology)

Abstract

The concepts, theory and practice of strategic management have become prominent in modern management literature especially in this new millennium for one obvious reason: that is, because of the complex, nebulous and dynamic nature of contemporary corporate governance. This phenomenon has in turn become a matter of concern to academics and professionals alike on the field. Consequently, the main objective of this paper is to present an overview of strategic management with particular emphasis on its concepts, theory as well as its linkage with the resource-based philosophy of the firm’s competitive advantage. A review of the relevant literature was conducted and a connection between strategic management theory and competitive advantage from the recourse-based philosophy of the firm was identified. It was found that the resource-based model is one of the main strategic management theories applicable to explain organizational performance, and it is also a part of the larger management theory family which has evolved to suit the managerial requirements of the modern complex organizations and also the business environments within which the organizations operate. Examining organizational competitive advantage from this school of thought allows the organizations to measure the significance of its internal resources and capabilities in particular towards attaining a competitive advantage, and hence to provide further support and extension to the Philosophical approach.

Suggested Citation

  • Claire Baldin & O.A. Eruola, 2011. "Strategic Management Theory: Concepts, Analysis and Critiques in Relation to Corporate Competitive Advantage from the Resource-based Philosophy," Economic Analysis, Institute of Economic Sciences, vol. 44(1-2), pages 59-77.
    • Handle: RePEc:ibg:eajour:v:44:y:2011:i:1-2:p:59-77
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    Cited by:

    1. Ullah, Nazim, 2021. "Fast-Fashion Labels Industry: Strategy Evaluation of H&M," MPRA Paper 108715, University Library of Munich, Germany.
    2. Adoli, Hebron L. & Kilika, James M. & Institute of Research, Asian, 2020. "Conceptualizing the Role of Leadership Strategy in the Context of Strategic Management Process: A Review of Literature," OSF Preprints abqpz, Center for Open Science.
    3. Binh Do & Thai Tran & Ninh Nguyen, 2021. "Renewable Energy Integration in Vietnam’s Power System: Generation Adequacy Assessment and Strategic Implications," Energies, MDPI, vol. 14(12), pages 1-21, June.
    4. Valerie Kemboi & Sedina Misango, 2021. "Analysis of Influence of Strategic Planning Practices on Organization Performance: A Case of Baringo County Government, Kenya," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 8(10), pages 68-76, October.
    5. Xue Li & Kum Fai Yuen, 2022. "Autonomous ships: A study of critical success factors," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(2), pages 228-254, June.

    More about this item

    Keywords

    Competitive advantage; corporate governance; firm performance; resource-based philosophy; management theory; strategic management;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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