The strategic imperative and sustainable competitive advantage: Public policy implications of resource-advantage theory

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Abstract

Strategy theorists share (1) the view that the strategic imperative of a firm should be sustained, superior financial performance and (2) the belief that this goal can be achieved through a sustainable competitive advantage in the marketplace. Neoclassical perfect competition and traditional industrial organization economics, however, imply that the sustained performance goal advocated by strategy theorists is anticompetitive and its achievement presumptively detrimental to social welfare. This article addresses the strategy-is-anticompetitive thesis with the goal of grounding strategy in a theory of competition - resource-advantage theory - that does not imply that the strategic imperative and its achievement are presumptively anticompetitive and antisocial As such, this article initiates a discussion of the public policy implications of resource-advantage theory.

Original languageEnglish
Pages (from-to)144-159
Number of pages16
JournalJournal of the Academy of Marketing Science
Volume27
Issue number2
DOIs
StatePublished - 1999

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