International Journal of Applied Strategic Management (ISSN: 1742-8204) Volume 1 Issue 2
Andrew L S Goh
International Graduate School of Management, Division of Business and Enterprise, University of South Australia
Strategic management (SM) has been an important field of business for more than four decades. Throughout these years, a plethora of strategy models have been proposed, developed and used by academic researchers and business practitioners. However, these strategy models have limitations in terms of classificatory effectiveness for categorising strategy. Yet, no research has been attempted to conceptualise an integrative strategy typology that would offer better classificatory effectiveness. This research study intends to bridge this knowledge gap of strategy models by a systematic development of an integrative typology through qualitative assessment and correlational analysis. The research findings are expected to be of interest to corporate managers, business planners and strategy researchers.
First, this article introduces the theoretical significance of strategic management and strategy models, outlines the conditions for effective conceptual modelling and explains the motivation for developing an integrative typology. It then describes Porter’s classification scheme and explains why Porter’s model is appropriate to be used as a reference typology for modification and integration. Next, it shows the conceptual flow of an integrative strategy typology using Hofer’s criterion as a qualitative assessment tool; and conducts a correlational analysis to test the typology based on data collected from 104 firms. In conclusion, it discusses the challenges facing research on strategy models and classification schemes and how research efforts should be channelled to integrating or unifying existing strategy models rather than developing divergent strategy models. Three areas of future research are proposed.
Strategic management, strategy, strategy model, typology, strategy classification, classificatory effectiveness, modification, integration and integrative typology.
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