engleski

REALIZING THE BIG PICTURE OF COMPETITIVE ADVANTAGE: THE STAKEHOLDER APPROACH

For years, strategy researchers and practitioners are trying to answer the question “Why do some firms perform better than others?” This paper provides an in depth literature review on the best known theories of competitive advantage and, to find a holistic approach to the phenomena of competitive advantage, offers a theoretical framework based on the stakeholder perspective as a reemerging concept in the academia as well as amongst practitioners. The starting point of this paper were the three distinctive views on competitive advantage, namely the SCP view, the Resource-based view, and the Relational view, each one uniquely contributing to the stakeholder perspective. This extant literature review shows that integration does not merely imply combining them together. The reconciliation of different views calls for taking the different underlying assumptions into account. Nevertheless, the stakeholder perspective on competitive advantage is not meant to replace any of them. It is complementary to the three views, but also sheds light on the incomplete picture of competitive advantage.

competitive advantage; RBV; relational view; SCP; strategy; stakeholder perspective

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