Journal of Management Research

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Strategy as "inferior" Choice


Affiliations
1 S P Jain Institute of Management & Research Munshi Nagar, Dadabhai Road, Andheri (W) Mumbai, India
     

   Subscribe/Renew Journal


The article develops on the seminal work of Porter (1996) and in its five sections looks at the meaning of strategy as divorced from operational efficiency. It dwells of the extension of Lionel Robbins work (1932) on the concept of trade-offs and choice. Subsequent sections look at the managerial obsession with growth, strategy as positioning and how wrong choices emerge when the focus is on OE rather than the risks associated with strategy. The article also discusses the approach of strategy as Nash Equilibrium and the understanding of strategy as inferior choice.

Keywords

Strategy, Nash Equilibrium, Inferior Choice, Operational Efficiency, Sustainable Fit
User
Notifications

  • Andrew, Kenneth (1980), The Concept of Corporate Strategy, Irwin.

  • Ansoff, H. I. (1965), Corporate Strategy, McGraw Hill, New York.

  • Brandenburger, A. M. and Nalebuff, B. (1995), The Right Game: Using game Theory to Shape Strategy, Harvard Business Review (July-Aug).

  • Brian Arthur, W. (1996), Increasing Returns and the New World of Business, Harvard Business Review, (July-Aug).

  • Dobb, Maurice, (1955), On Economic Theory and Socialism, Chapter IIIc, Rutledge & Kagan Paul Ltd, London.

  • Drucker, P. (1994), The Theory of Business, Harvard Business Review, (Sept-Oct).

  • Durkhiem, E. (1893), The Division of Labor in Society (Translated by W D Hall), Palgrave Macmillian (repriint, 1984).

  • Hamel, G. (1996), Strategy as Revolution, Harvard Business Review, (July-Aug).

  • Hamel, G. and Prahalad, C. K. (1989), Strategic Intent, Harvard Business Review, (May-June).

  • Hendrix, Jimi and Zimmerman, Robert (1968), All Along the Watch Tower, CBS.

  • Johnson, Scholes and Whittington (2010), Exploring Corporate Strategy, Pearson Education.

  • Kant, Immanuel (1781), A Critique of Pure Reason, Cambridge University Press (reprint, 1999).

  • Marshall, Alfred (1876), Principles of Economics, Prometheus Books (reprint, 1997).

  • Mintzberg, H. and Quinn, J. B. (1996), The Strategy Process Concepts Context and Cases (3rd Ed), Prentice Hall.

  • Nash, John (1950), Equilibrium Points in N-Person Games, Proceedings of NAS.

  • Peters, T. and Waterman, R. H. (1982), In Search of Excellence, Harper & Row.

  • Porter, M. E. (1996), What is Strategy?, Harvard Business Review, (Nov-Dec).

  • Prahalad, C. K. and Hamel, G. (1990), The Core Competence of the Corporation, Harvard Business Review, (May-June): 97-90

  • Rawls, J. (1971), A Theory of Justice, Harvard University Press.

  • Robbins, Lionel (1932), An Essay on the Nature and Significance of Economic Science, Macmillan, London.

  • Russel, Bertrand (1930), Power, Routledge (reprint 1995).

  • Sen, A. (1993), Markets and Freedom: Achievements and Limitations of the Market Mechanism in Promoting Individual Freedoms,

  • Oxford Economic Papers, 45(4): 519-541.

  • Smith, Adam (1776), The Wealth of Nations, Penguin (reprint 1982).

  • Smith, Craig (1994), The New Corporate Philanthropy, Harvard Business Review, (May-June).

  • Walras, Leon (1874), Elements of Pure Economics (Translated by W. Jaffe), George Allen and Unwin, London (reprint, 1954).


Abstract Views: 379

PDF Views: 3




  • Strategy as "inferior" Choice

Abstract Views: 379  |  PDF Views: 3

Authors

Ajit Prasad
S P Jain Institute of Management & Research Munshi Nagar, Dadabhai Road, Andheri (W) Mumbai, India

Abstract


The article develops on the seminal work of Porter (1996) and in its five sections looks at the meaning of strategy as divorced from operational efficiency. It dwells of the extension of Lionel Robbins work (1932) on the concept of trade-offs and choice. Subsequent sections look at the managerial obsession with growth, strategy as positioning and how wrong choices emerge when the focus is on OE rather than the risks associated with strategy. The article also discusses the approach of strategy as Nash Equilibrium and the understanding of strategy as inferior choice.

Keywords


Strategy, Nash Equilibrium, Inferior Choice, Operational Efficiency, Sustainable Fit

References