Building‐blocks of strategic management: A multi‐dimensional, pan‐theoretical taxonomy of business strategies

Abstract

Purpose

The purpose of this conceptual paper is to address the lack of consistent means through which business strategies are identified and discussed across theoretical perspectives in the field of business strategy.

Design/methodology/approach

A stakeholder‐based approach is used to facilitate the standardized referencing of strategies at the business‐level of analysis.

Findings

A taxonomy is developed that facilitates the identification and naming of business‐level strategies in a pan‐theoretical manner. A standardized referencing system is offered to codify the means by which strategies are identified.

Practical implications

Practitioners are provided a taxonomy for identifying stakeholder strategies gaps and determining gaps and opportunities.

Originality/value

Key benefits to academics are the improved dialogue in the strategic management field from empirical findings and conceptual discourse that employ a universal lexicon for the identification and categorization of business‐level strategies. Managers will benefit from a more transparent strategic design process that reduces ambiguity, aids in identifying and correcting gaps in strategic planning, and fosters enhanced strategic analysis.

Citation

Fuller, M. (2010), "Building‐blocks of strategic management: A multi‐dimensional, pan‐theoretical taxonomy of business strategies", Management Decision, Vol. 48 No. 1, pp. 5-16. https://doi.org/10.1108/00251741011014427