Business

Pack for BSM914 Topics in Advanced Strategy Dr Malcolm Clews April 201

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BSM914 Advanced Topics in Strategy Term 3, 20 Re Pack

Table of Contents Week 1 readings eek 2 readings Week 3 readings Week 4 readings Week 5 readings Week 6 readings Week 7 readings Week 8 reading week

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Evolution of strategic management: The need for new dominant designs

Evolution O 2 Blackwell Publishing Ltd 2005 The need 7 RIGINALstrategicof Management Reviewsfor new dominant designs 1460-8545Publishing, Ltd. Oxford, UK ARTICLE Blackwell of Journal management: International IJMR ©

Pol Herrmann

The development of strategic management is explained from an evolutionary perspective on the basis of cycles of variation, selection and retention. In industry, breakthrough innovations, or technological discontinuities, initiate eras of ferment that end when a generally accepted standard, or dominant design, starts an era of incremental change. In strategic management, the original definition of strategy initiated an era of ferment characterized by a focus on the environment. The attention to the environment of firms and the integration with other areas of inquiry reached a point of maturity with development of a widely accepted model for analyzing industry and with the definition of generic strategies. The resource-based view of the firm created a new era of ferment by affirming that the main sources of sustainable competitive advantages reside in the development and use of valuable resources. A new period, marked by swift advances in technology and increasingly blurred boundaries among industries, markets and competitors as well as diverse and more complex sources of competitive advantages, imposes on scholars and practitioners an imperative need to conceive new dominant designs. This paper illustrates the evolution toward new directions and challenges of creating new dominant paradigms in strategic management that revolve around the concepts of knowledge,...