TY - JOUR
T1 - The strategic imperative and sustainable competitive advantage
T2 - Public policy implications of resource-advantage theory
AU - Hunt, Shelby D.
PY - 1999
Y1 - 1999
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=22644449388&partnerID=8YFLogxK
U2 - 10.1177/0092070399272003
DO - 10.1177/0092070399272003
M3 - Article
AN - SCOPUS:22644449388
SN - 0092-0703
VL - 27
SP - 144
EP - 159
JO - Journal of the Academy of Marketing Science
JF - Journal of the Academy of Marketing Science
IS - 2
ER -