The word ‘dynamics’appears frequently in discussions and writing about strategy,and is used in two distinct,though equally important senses.
A strategic partnership is a relationship between two commercial enterprises,usually formalized by one or more business contracts. A strategic partnership will usually fall short of a legal partnership entity,agency,or corporate affiliate relationship. Strategic partnerships can take on various forms from shake hand agreements,contractual cooperation's all the way to equity alliances,either the formation of a joint venture or cross-holdings in each other.
Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization. Intrapreneurship is known as the practice of a corporate management style that integrates risk-taking and innovation approaches,as well as the reward and motivational techniques,that are more traditionally thought of as being the province of entrepreneurship. Corporate entrepreneurship is a more general term referring to entrepreneurial actions taking place within an existing organization whereas Intrapreneurship refers to individual activities and behaviors.
The resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage.
Computer simulation is a prominent method in organizational studies and strategic management. While there are many uses for computer simulation,most academics in the fields of strategic management and organizational studies have used computer simulation to understand how organizations or firms operate. More recently,however,researchers have also started to apply computer simulation to understand organizational behaviour at a more micro-level,focusing on individual and interpersonal cognition and behavior such as team working.
David John Teece is a New Zealand-born US-based organizational economist and the Professor in Global Business and director of the Tusher Center for the Management of Intellectual Capital at the Walter A. Haas School of Business at the University of California,Berkeley.
In organizational theory,dynamic capability is the capability of an organization to purposefully adapt an organization's resource base. The concept was defined by David Teece,Gary Pisano and Amy Shuen,in their 1997 paper Dynamic Capabilities and Strategic Management,as the firm’s ability to engage in adapting,integrating,and reconfiguring internal and external organizational skills,resources,and functional competences to match the requirements of a changing environment.
Competitive heterogeneity is a concept from strategic management that examines why industries do not converge on one best way of doing things. In the view of strategic management scholars,the microeconomics of production and competition combine to predict that industries will be composed of identical firms offering identical products at identical prices. Deeper analyses of this topic were taken up in industrial organization economics by crossover economics/strategic-management scholars such as Harold Demsetz and Michael Porter. Demsetz argued that better-managed firms would make better products than their competitors. Such firms would translate better products or lower prices into higher levels of demand,which would lead to revenue growth. These firms would then be larger than the more poorly managed competitors.
Knowledge entrepreneurship describes the ability to recognize or create an opportunity and take action aimed at realizing an innovative knowledge practice or product. Knowledge entrepreneurship is different from 'traditional' economic entrepreneurship in that it does not aim at the realization of monetary profit but focuses on opportunities to improve production (research) and knowledge rather than maximizing monetary profit. It has been argued that knowledge entrepreneurship is the most suitable form of entrepreneurship for not-for-profit educators,researchers and educational institutions.
The Strategic Management Society (SMS) is a professional society for the advancement of strategic management. The society consists of nearly 3,000 members representing various backgrounds and perspectives from more than eighty different countries. Membership is composed of academics,business practitioners,and consultants. The society has been credited with being a factor in the development of strategic management as a legitimate field of scholarly endeavor. The SMS publishes the Strategic Management Journal,Strategic Entrepreneurship Journal and the Global Strategy Journal.
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk,and potentially involving values besides simply economic ones.
Soumodip Sarkar is an economist and management scholar.
Ulrich Lichtenthaler is a German economist who is Professor of Management and Entrepreneurship at the International School of Management in Cologne. He held the Chair of Management and Organization at the University of Mannheim until March 2015.
Shaker A. Zahra is the Robert E. Buuck Chair of Entrepreneurship and professor of strategy and entrepreneurship,Carlson School of Management,University of Minnesota. He is also the academic director of the Gary S. Holmes Entrepreneurship Center.
Entrepreneurial orientation (EO) is a firm-level strategic orientation which captures an organization's strategy-making practices,managerial philosophies,and firm behaviors that are entrepreneurial in nature. Entrepreneurial orientation has become one of the most established and researched constructs in the entrepreneurship literature. A general commonality among past conceptualizations of EO is the inclusion of innovativeness,proactiveness,and risk-taking as core defining aspects or dimensions of the orientation. EO has been shown to be a strong predictor of firm performance with a meta-analysis of past research indicating a correlation in magnitude roughly equivalent to the prescription of taking sleeping pills and getting better sleep. Still,some research has argued that EO does not enhance the performance for all firms. Instead,EO can be argued not to be a simple performance enhancing attribute but rather enhancing if it is applied under the right circumstances of the firm. In some cases,EO can even be disadvantageous for firms,if the situation of the firm does not fit with applying EO. Different situations can be the environment that the firm is situated within or internal situations such as structure and strategy.
Jay B. Barney is an American professor in strategic management at the University of Utah.
The composition-based view (CBV) was recently developed by Luo and Child (2015). It is a new theory that explicates the growth of firms without the benefit of resource advantages,proprietary technology,or market power. The CBV complements some existing theories such as resource-based view (RBV),resource management view,and dynamic capability –to create novel insights into the survival of firms that do not possess such strategic assets as original technologies and brands. It emphasizes how ordinary firms with ordinary resources may generate extraordinary results through their creative use of open resources and unique integrating capabilities,resulting in an enhanced speed and a high price-value ratio that are well suited to large numbers of low- to mid-end mass market consumers. The CBV has been commented as “a new view with significant application”for emerging market firms and for small and medium sized enterprises in many countries. The view cautions though that composition-generated advantages are temporary in nature and that composition itself mandates special skills in distinctively identifying,leveraging,and combining open or existing resources inside and outside the firm.
Daniel A. Levinthal is a Reginald H. Jones Professor of Corporate Strategy at the Wharton School of the University of Pennsylvania. Levinthal is considered to be one of the most prominent management scholars. His pioneering work on organizational learning,complex systems,and innovation as search process have advanced understanding of organizational and industry evolution and received numerous international awards. His papers remain some of the highest cited papers in management and social sciences in general.
Giovanni Battista Dagnino is an Italian economist and academic. He is the Chair of Management and Professor of Digital Strategy at the Libera UniversitàMaria SS. Assunta University of Rome,where he is the Founding Director of the MSc Degree in Economics and Management.
Research Quotient (RQ) is a measure of companies' innovation capability introduced in the 2008 article,R&D Returns Causality:Absorptive Capacity or Organizational IQ. The measure was originally referred to as IQ (Innovation Quotient),but because IQ and innovation quotient were already in use commercially,it was referred to as RQ in subsequent work. The motivating argument in the 2008 article was that the main prescription from absorptive capacity —that the more a company spends on R&D,the greater its ability to absorb spillovers from rivals’R&D,seemed implausible. This is because the greater the R&D,the closer a company gets to the knowledge frontier,and accordingly,the less likely it can use spillovers. Instead,Knott proposed and found,it wasn't that spending more led to higher returns,it was that companies have inherently different returns (RQ),and those with higher RQ spend more.
