Strategy Practices And The Micro Foundations Of Advantage
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Strategy Practices and the Micro-Foundations of Advantage
Author | : Cliff Bowman |
Publisher | : |
Total Pages | : 6 |
Release | : 2014 |
Genre | : |
ISBN | : |
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Resource-based advantages are 'built', not bought, and have typically emerged from complex development processes that are, to a significant degree, 'unmanaged'. Set against this reality are strategy process prescriptions that encourage managers to adopt deliberate, formal, analytical approaches to deriving strategies. Thus, our understanding of what gives a firm unique advantage seems to be at odds with generic strategy practice prescriptions. To address this paradox, we examine the micro-foundations of advantage, showing that it is processual in nature and that it resists disaggregation that would make it amenable to design-led managerial interventions. We then suggest strategy practices that may be more congruent with the fundamental nature of resource-based advantages. Such practices should enable the firm to continually adapt to the unfolding environment.
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