Strategic

SUMMARY OF ARTICLES

The first article, Toward Remaining Strategy Research: Retrospection And Prospection on the 2011 Amr Decade award article talks about a firm’s strategy research focusing not only on value captured for the firm but also on value creation for the firm’s customers and consumers, which increases their exchange value (Priem et al, 2011). It also states that organizations should view the development of strategies from a broader perspective, which will involve a shift from not only considering the organizations internal resources, but also the demands of consumers in the development of a strategy. It states that since the demands of consumers tend to change regularly, a firm must always be prepared to adjust to these changes. Although a change like this will present some obstacles for organizations, however, it will result in the development of an effective/efficient value proposition for the firm and will also lead to increased knowledge generation in strategic management, especially to knowledge about effective strategic judgments. The integration of both will also help understand the management judgments that will lead to an ongoing strategic success in its internal and external environment.

The second article, Rethinking Sustained Competitive Advantage From Human Capital, talks about how most firms assume that firm-specific human capital is a very reliable means of acquiring competitive advantage since it limits an employee’s mobility and general human capital does not. It further goes on to speak on three boundaries that limit the applicability of this logic when seeking to achieve sustained competitive advantage. This article also explores demand and supply side factors that affect the mobility of human capital. Most importantly, the article says that these mobility constraints have a greater impact on human capital compared to the firm specificity of human capital.

SIMILARITIES AND DIFFERENCES BETWEEN THE TWO PERSPECTIVES

The main...