Strategy as Action: Competitive Dynamics and Competitive Advantage

Strategy as Action: Competitive Dynamics and Competitive Advantage

Strategy as Action: Competitive Dynamics and Competitive Advantage

Strategy as Action: Competitive Dynamics and Competitive Advantage

Synopsis

Strategy as Action presents an action plan for how firms can build, improve, and defend their competitive advantage at every stage of their life cycle. For start-up firms entering a market, it provides a model for exploiting competitive uncertainty and blind spots; for growth firms who have established some market advantages, it provides an action plan for exploiting relative resources; for mature firms, it explains how to exploit market position; finally, for firms that have no decisive resource advantage, it provides an action plan based on firm co-operative reactions.

Excerpt

Curtis Grimm and Ken Smith arrived at the Robert H. Smith School of Business at the University of Maryland in August 1983, fresh Ph.D. degrees in hand. Although from different disciplinary backgrounds—Grimm from industrial organization economics and Smith from strategic management—we shared a keen interest in challenging current ways of thinking about strategy and competitive interaction. We were especially concerned with scholars’ conception of strategy as inactive. To us, strategy was action! It was a high-stakes race of action and reaction, where timing of action is crucial to success. We subsequently developed a body of research on the actual competitive actions and reactions of real firms across a broad range of industries. The ideas presented in this book are drawn from that research, which has been reported in a wide variety of academic journals.

When should a firm be innovative or entrepreneurial, when should it aggressively take on rivals from a position of strength, and when should it cooperate? What is the right way to attack a rival, or the best way to defend an established position? When is it important to act quickly?

We have explored those questions over our 20-year collaboration, including the last several years with a former Ph.D. student, Hun Lee, Associate Professor of Strategic Management at George Mason University. The three of us have synthesized and advanced these ideas in a format designed to serve as a supplement to a basic strategy text for an MBA course or the undergraduate capstone course. The book would also be appropriate in an elective course on industry and competitor analysis. The ideas are of great relevance to current and future managers in today’s competitive and fastpaced business environment. Researchers in strategy will also find value in reading the text.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.