The normative imperatives of business and marketing strategy: Grounding strategy in resource-advantage theory

Shelby D. Hunt, Caroline Derozier

Research output: Contribution to journalReview article

67 Scopus citations

Abstract

Determining the strategic thrust of the firm, it may be argued, is the principal task of top management. This task is aided by recent theories of business and marketing strategy, including the normative imperatives based on industry factors, resource factors, competences, market orientation, and relationship marketing. Choosing wisely from among the various theories of strategy requires an accurate understanding of the contexts of competition. This article argues that resource-advantage theory, an evolutionary, disequilibrium-provoking process theory of competition, provides that understanding. That is, resource-advantage theory grounds theories of business and marketing strategy.

Original languageEnglish
Pages (from-to)5-22
Number of pages18
JournalJournal of Business and Industrial Marketing
Volume19
Issue number1
DOIs
StatePublished - 2004

Keywords

  • Corporate strategy
  • Marketing strategy
  • Relationship marketing
  • Resource efficiency

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