Investigating strategy tools from an interactive perspective

Abstract

Purpose

The purpose of this paper is to investigate how the strategic management concept of “strategy tools” (STs) can be reinterpreted from an industrial network perspective. It considers how STs are used to influence the substance of relationships and how firms engage in strategic action by using such tools.

Design/methodology/approach

Using case study research involving three focal firms, the paper scrutinizes use of selected STs to examine how they are used to systematically relate to others and create benefits and affect development paths in business relationships.

Findings

STs can be viewed as an integrated part of a networking pattern of mobilizing resources, linking activities and relating actors. Seen in this manner, use of STs can be interaction-facilitating or interaction-creating.

Research limitations/implications

In an interactive approach, STs must be seen in relation to others as they are used in strategic (co-)action to engage and involve others. In this view, tools are strategic when used to affect the long-term development of important business relationships.

Practical implications

Practitioners should acknowledge that the use of a ST to handle counterparts is emerging, and valuable only in relation to specific others. Because the value of STs is unknowable until it is revealed how they can affect the substance of a specific relationship, there is no best-practice or one-size-fits-all approach.

Originality/value

This paper illuminates the phenomenon of “strategy tools” by considering it from both sides of the business exchange interface.

Citation

Cheng, C. and Havenvid, M.I. (2017), "Investigating strategy tools from an interactive perspective", IMP Journal, Vol. 11 No. 1, pp. 127-149. https://doi.org/10.1108/IMP-09-2015-0049