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Sustainable Strategizing: Extending Competitive Advantages to Viability Advantage

In: Rethinking Strategic Management

Author

Listed:
  • Timo Santalainen

    (Aalto University
    Stratnet)

Abstract

Competitive advantages of organizations are becoming temporary and transient in today’s volatile, uncertain, complex and ambiguous (VUCA) environments. At the same time, there is both practical and research evidence that long-term oriented organizations outperform and deliver wider benefits to stakeholders than short-term oriented ones. Based on this, organizations should aim at stretching competitive advantages towards viability advantage. Viability advantage can be developed by widening arenas of managerial work towards strategic management (e.g. developing dynamic capabilities) and institutional management (e.g. impacting industry rules, even creating new industries) in addition to focusing on business management and operational effectiveness. Open strategizing, involving external network partners and enhancing internal horizontal collaboration by developing “silo solvents”, is a promising vehicle for developing innovativeness and execution power needed for creating and sustaining viability advantage. Open strategizing is an ongoing process of launching and executing strategic initiatives, “tiger pounce strategies” that result in innovative, value capturing business/operation models. For making viability advantage real, open strategizing must be driven and powered by strategic thinking. Management systems and processes should support opening strategists’ minds rather than being blinders as is the case of many template-driven planning systems. Strategic thinking fosters viability mindset. This reinforces sustainable strategizing.

Suggested Citation

  • Timo Santalainen, 2019. "Sustainable Strategizing: Extending Competitive Advantages to Viability Advantage," CSR, Sustainability, Ethics & Governance, in: Thomas Wunder (ed.), Rethinking Strategic Management, chapter 0, pages 87-104, Springer.
    • Handle: RePEc:spr:csrchp:978-3-030-06014-5_5
    DOI: 10.1007/978-3-030-06014-5_5
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    Cited by:

    1. Markus Niehaus & Katrin Hansen & Marian Mocan & Darius Barmayoun, 2023. "Unraveling Successful Company Organizations: A Research Design to Explore Strategies for Thriving Amid Market Turbulence," Administrative Sciences, MDPI, vol. 13(9), pages 1-12, September.
    2. Camila Cristina Rodrigues Salgado & Renan Felinto de Farias Aires & Afrânio Galdino Araújo, 2022. "Transient Competitive Advantage Model (TCAM) to Analyze Companies in the Context of Transience," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(2), pages 185-199, June.

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