Strategic management
Pro Research Analysisby 
Searched over 200M research papers for "strategic management"
Strategic Management: Evolution, Theories, and Future Directions
Evolution of Strategic Management
Historical Development of Strategic Management
The concept of strategic management has evolved significantly over time. Initially rooted in business policy, strategic management has grown into a comprehensive field that integrates various theoretical and empirical research approaches. Early foundational works, such as Chandler's "Strategy and Structure" (1962) and Ansoff's "Corporate Strategy" (1965), emphasized the contingency perspective, focusing on the fit between strategy and structure, and the resource-based framework, which highlights internal strengths and weaknesses1 2.
Theoretical Foundations and Contributions
The field of strategic management has been shaped by several key theoretical contributions. One of the most influential is the industrial organization (IO) economics framework, particularly Michael Porter's work on the structure-conduct-performance paradigm and strategic groups. This framework has provided a foundation for research on competitive dynamics and introduced econometric tools to the field2. Additionally, the resource-based view (RBV) of the firm, which gained prominence in the 1980s and 1990s, focuses on leveraging a firm's internal resources and capabilities to achieve competitive advantage2.
Key Theories in Strategic Management
Contingency and Resource-Based Theories
Contingency theories in strategic management suggest that the effectiveness of a strategy depends on the fit between the strategy and the external environment. This perspective views strategic management as a mechanistic process where managers apply scientific principles to achieve organizational goals4. On the other hand, the resource-based view emphasizes the importance of a firm's internal resources and capabilities in shaping its strategy and achieving long-term success2.
Adaptation and Strategic Leadership
Adaptation is another critical metaphor in strategic management, highlighting the need for organizations to continuously adjust to their environments to ensure long-term survival and growth3. Strategic leadership and decision theory also play vital roles, focusing on the processes through which leaders make strategic decisions and guide their organizations2.
Strategic Management in Public and Nonprofit Sectors
Strategic management is not limited to the private sector; it is also crucial in public administration. Public agencies use strategic management to align their internal capacities with external environments, addressing both internal and external constraints to improve performance8. This approach underscores the importance of strategy in achieving public service goals and enhancing organizational effectiveness.
Methodologies and Future Directions
Research Methodologies in Strategic Management
The methodologies used in strategic management research have become increasingly sophisticated, combining quantitative and qualitative approaches. These methodologies are essential for generating robust findings and advancing the field7. Despite significant accomplishments, the field faces challenges, including the need for more diverse empirical data and advanced statistical tools7.
Future Directions and Theoretical Enrichment
The future of strategic management research lies in theoretical enrichment and empirical variety. Scholars suggest that integrating models of strategy with publicness and exploring causal complexities will drive the field forward8. Additionally, the concept of distributed practical wisdom, or "phronesis," emphasizes the need for collective strategic thinking and decision-making within organizations9.
Conclusion
Strategic management has evolved from its early roots in business policy to a dynamic and theory-rich field. Key theoretical contributions, such as the IO economics framework and the resource-based view, have shaped its development. The field continues to grow, with increasing sophistication in research methodologies and a focus on adaptation, strategic leadership, and public sector applications. Future research will likely explore new theoretical models and empirical approaches to further advance our understanding of strategic management.
Sources and full results
Most relevant research papers on this topic
The Historical Development of the Strategic Management Concept
Strategic management has evolved from the concept of strategy, with commonalities in past definitions and various approaches to operationalizing it.
Highly CitedTheory and research in strategic management: Swings of a pendulum
Strategic management has evolved from an applied area to a strongly theory-based and eclectic field, with contributions from industrial organization economics, organizational economics, and resource-based views of the firm.
Highly CitedAdaptation: A Promising Metaphor for Strategic Management
Adaptation, a metaphor for strategic management, effectively captures an organization's efforts to adapt to its environment, ensuring long-term survival and growth.
Highly CitedStrategic Management and Determinism
Strategic management is a creative activity that balances free will and determinism, challenging the mechanistic view of managers as "analysts" and promoting a dialectic between free will and determinism.
Highly CitedTowards Better Strategic Management.
Strategic management is crucial for organizations to survive in a rapidly changing environment, but its practice is still rare and rudimentary.
Strategic management
Strategic management focuses on resource allocation, team spirit, and maximizing profit through proper resource utilization and a well-defined strategy.
Highly CitedResearch Methodology in Strategic Management
Strategic management research methods have made significant progress, but face challenges and require further improvements for robust findings.
Highly CitedStrategic Management and Public Service Performance: The Way Ahead
Strategic management positively impacts public service performance, but more research is needed to enrich the evidence base and better understand causal complexity.
Literature ReviewHighly CitedStrategic management as distributed practical wisdom (phronesis)
Effective strategic management requires distributed wisdom, promoting common good and fostering a shared understanding of the future among organizational members.
Highly CitedStrategic Management – Formulation, Implementation and Control*
This book provides a comprehensive understanding of strategic management, focusing on formulation, implementation, and control, with a focus on entrepreneurship and innovation.
Highly CitedTry another search
market analysis
Studying the efficiency of seismic isolation in buildings with different structural system
supply chain management
The impact of artificial intelligence on creative industries and artistic expression.
marketing strategies
The ethics and implications of using drones in conservation and wildlife monitoring.