A3 Book section, chapters in research books

Approaches from strategic management: Resource-based view, knowledge-based view, and dynamic capability view


Open Access publication

Publication Details
Authors: Maijanen Päivi
Editors of book: von Rimscha, Bjørn M.; Kenzler, Stephanie
Edition name or number: 1st Edition
Publishing place: Berlin
Publication year: 2020
Language: English
Title of parent publication: Management and Economics of Communication
ISBN: 9783110587166
eISBN: 9783110589542
JUFO-Level of this publication: 3
Open Access: Open Access publication
Location of the parallel saved publication: http://urn.fi/URN:NBN:fi-fe2020073147802

Abstract


This chapter introduces three
essential approaches of strategic management: resource-based view,
knowledge-based view and dynamic capability view. They represent the modern
streams of strategic management, each highlighting the role of intra-organizational factors
as the source of sustainable competitive advantage. The resource-based view
emphasize the role and management of valuable, rare, inimitable, and
non-substitutable resources as sources of market imperfections and thus able to
create competitive advantage. The knowledge-based view focuses on the role of intangible
knowledge assets as a main source of superior performance. The dynamic capability
view studies strategic change with the question of how firms are able to keep
their resources valuable and unique when the business environment changes. The
emphasis on firm-specific and unique factors and drivers of success is highly relevant
in the media industry where new technologies and keen global competition are
changing existing business models faster than in any other industry. For media management,
the approaches studied in this chapter provide important concepts and analytical
tools to analyze intra-organizational dynamics of change and to detect what types
of resources and change-enhancing capabilities media firms would need to
outperform others and remain competitive.


Last updated on 2020-31-07 at 11:07

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