Title

Major Theories of Business Strategy

Document Type

Book Chapter

Publication Date

5-22-2013

Abstract

This chapter summarizes some of the most influential theories of business strategy, tracing their intellectual development within the strategic literature. A framework for comparing and contrasting the different theories of business strategy is introduced by categorizing individual theories into four dominant theoretical paradigms: product/market-based, industry-based, resource-based, and competition-based theories. Key thought leaders, basic premises, and limitations of each strategy are discussed.