Toward an Integrated Theory of Strategy: Exploring the Interdependencies Among Competitive, Growth and Stakeholder Strategies
37 Pages Posted: 18 Apr 2016
Date Written: April 12, 2016
We develop an integrative approach to the study of strategic management in a three-step logical sequence. First, a general framework is proposed to describe how competitive, growth and stakeholder strategies influence each other in a dynamic way to create customer and stakeholder advantage on the product and factor markets. Second, we analyze these interdependencies in the way the three strategies moderate each other’s impact on these two types of advantage. Third, we leverage the prior steps to study the likelihood of different bundles of strategies to generate the highest expected economic surplus. This analysis identifies two different bundles of strategic decisions that can potentially maximize performance outcomes. A research agenda is developed for future work on integrative approaches to strategic management theory and practice.
Keywords: strategy-making, competitive strategy, growth strategy, stakeholder strategy, interdependent decision-making, bundles of strategic choices, strategic management
JEL Classification: M00
Suggested Citation: Suggested Citation