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An Integrated View of Strategic Management

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  • Juan Pablo Stegmann

    (Ph.D. in Economics, University of Warsaw. Poland, Professor of Strategic Management and International Business, Coggin College of Business. University of North Florida, 4567 St. Johns Bluff Road, South. Jacksonville, FL 32224–2675)

Abstract

Strategic management has produced an amazing number of theories and models in the last decades. However, so far it has not succeeded in producing a good integrative model that can synthesize all the existing models. In a previous paper I proposed such a model (from now on we will refer to it as the GEMK model, in relation to Growth-EVA-Market Power-Knowledge). It is based on the two drivers of stock value creation, Economic Value Added (EVA) and growth of capital, and proposes two new testable variables, market power and knowledge. This paper is the application of the GEMK model. It shows how most of existing strategic management models impact stock value creation. It produces a valuable simplification of the discipline, eliminates confrontations, shows that several different theories are complementary, provides a new powerful critical thinking, and shows that the different theories are contingent to these four variables. Most importantly, it shows that the different theories have different levels of impact on stock value creation.

Suggested Citation

  • Juan Pablo Stegmann, 2007. "An Integrated View of Strategic Management," Journal of Interdisciplinary Economics, , vol. 18(4), pages 275-302, July.
    • Handle: RePEc:sae:jinter:v:18:y:2007:i:4:p:275-302
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