Abstract
The field of strategy has taken shape around a framework first conceived by Kenneth Andrews in the now-classic book, The Concept of Corporate Strategy. Andrews characterized the role of a strategist as one of finding the match between what a firm can do (organizational strengths and weaknesses) within the universe of what it might do (environmental opportunities and threats). The basic structure of this framework has demonstrated remarkable elasticity as the field has grown internally, and as insights borrowed from other disciplines have stretched its boundaries.
The authors thank Anit McGahan and Robert E. Kennedy for their helpful comments, and Briger Wernerfelt for his contribution to the development of these ideas.
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Foss, N.J., Knudsen, C., Montgomery, C.A. (1995). An Exploration of Common Ground: Integrating Evolutionary and Strategic Theories of the Firm. In: Montgomery, C.A. (eds) Resource-Based and Evolutionary Theories of the Firm: Towards a Synthesis. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-2201-0_1
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