Strategic management has been increasingly characterized by an emphasis on core competences. Firms are advised to divest unrelated businesses and return to core business. Moreover, competitive advantage is now increasingly seen as a matter of efficiently deploying scarce knowledge resources to product markets. Much of this change in emphasis has occurred because of the emergence of a unified and rigorous approach to strategy, often called the resource-based approach. This Reader brings together extracts from the seminal articles that created this dominant perspective in strategic management. It includes the pioneering work of Selznick, Penrose, and Chandler and more recent writing by Wenerfelt, Barney, Teece, and Prahalad and Hamel.
Foreword,
Edith PenroseResources and Strategy: A Brief Overview of Themes and Contributions, Nicolai J. Foss
Leadership in Administration, Philip Selznick
The Theory of the Growth of the Firm, Edith T. Penrose
Strategy and Structure, Alfred D. Chandler
The Concept of Corporate Strategy, Kenneth Andrews
The Organisation of Industry, George B. Richardson
Industry Structure, Market Rivalry, and Public Policy, Harold Demsetz
An Evolutionary Theory of Economic Change, Richard R. Nelson and Sidney G. Winter
Economies of Scope and the Scope of the Enterprise, David J. Teece
A Resource-based View of the Firm, Birger Wernerfelt
Towards a Strategic Theory of the Firm, Richard P. Rumelt
Strategic Factor Markets, Jay B. Barney
Asset Stock Accumulation and the Sustainability of Competitive Advantage, Ingemar Dierickx and Karel Cool
Diversification, Ricardian Rents, and Tobins q, Cynthia A. Montgomery and Birger Wernerfelt
The Cornerstones of Competitive Advantage, Margaret A. Peteraf
The Resource-based View Within the Conversation of Strategic Management, Joseph T. Mahoney and J. Rajendran Pandian
The Core Competence of the Corporation, C. K. Prahalad and Gary Hamel
Why do Firms Differ; and How does it Matter?, Richard R. Nelson
Dynamic Capabilities and Strategic Management, David J. Teece, Gary Pisano, Amy Shuen
Transaction-cost Economics in Real Time, Richard N. Langlois
Knowledge of the Firm, Bruce Kogut and Udo Zander
Related Diversification, Core Competences and Corporate Performance, Constantinos C. Markides and Peter J. Williamson
Resources and Strategy: Problems, Open Issues, and Ways Ahead, Nicolai J. Foss
Foreword, Edith Penrose
Resources and Strategy: A Brief Overview of Themes and Contributions, Nicolai J. Foss
Leadership in Administration, Philip Selznick
The Theory of the Growth of the Firm, Edith T. Penrose
Strategy and Structure, Alfred D. Chandler
The Concept of Corporate Strategy, Kenneth Andrews
The Organisation of Industry, George B. Richardson
Industry Structure, Market Rivalry, and Public Policy, Harold Demsetz
An Evolutionary Theory of Economic Change, Richard R. Nelson and Sidney G. Winter
Economies of Scope and the Scope of the Enterprise, David J. Teece
A Resource-based View of the Firm, Birger Wernerfelt
Towards a Strategic Theory of the Firm, Richard P. Rumelt
Strategic Factor Markets, Jay B. Barney
Asset Stock Accumulation and the Sustainability of Competitive Advantage, Ingemar Dierickx and Karel Cool
Diversification, Ricardian Rents, and Tobins q, Cynthia A. Montgomery and Birger Wernerfelt
The Cornerstones of Competitive Advantage, Margaret A. Peteraf
The Resource-based View Within the Conversation of Strategic Management, Joseph T. Mahoney and J. Rajendran Pandian
The Core Competence of the Corporation, C. K. Prahalad and Gary Hamel
Why do Firms Differ; and How does it Matter?, Richard R. Nelson
Dynamic Capabilities and Strategic Management, David J. Teece, Gary Pisano, Amy Shuen
Transaction-cost Economics in Real Time, Richard N. Langlois
Knowledge of the Firm, Bruce Kogut and Udo Zander
Related Diversification, Core Competences and Corporate Performance, Constantinos C. Markides and Peter J. Williamson
Resources and Strategy: Problems, Open Issues, and Ways Ahead, Nicolai J. Foss