Business Strategy, Market Governance and Performance: Insights from a Case Study

Business Strategy, Market Governance and Performance: Insights from a Case Study

Maria Rosaria Della Peruta (Second University of Naples, Caserta, Italy) and Marina Maggioni (Link Campus University, Rome, Italy)
DOI: 10.4018/ijsesd.2013100103
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Abstract

The evidences, the paradoxes, the questions that emerge from academic research into the mechanisms by which businesses generate profits are at the centre of an important theoretical debate. A large body of literature in strategic management emphasizes a particular perspective or theory (namely, the industry- resource- and institution-based views), leading to the accumulation of research findings that are difficult to compare and integrate. The current streams of thinking on the sustainability of competitive advantages have missed the aim of giving a decisive and/or exclusive relevance to paradigms through which one is accustomed to study, interpret, or suggest interventions for the enterprise as a whole or some of its parts. It is not enough to call once more for a diversity of competing views: the authors recommend that research be designed in ways that enable multiple theoretical lenses of reality to be treated. The validity of theories will remain quite limited until we significantly consider the types of conditions to which the variety of organizations in the world today has been exposed. The case of Wal-Mart illustrates how a top-performing firm competes for resources to legitimate intentions and achievements in a global context.
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Advances In The Management Science And The “Keys” To Performance

Starting from the early insights of the classical school, the studies of business strategy have undergone, since the early seventies, a remarkable evolution. Methodological implications can be also traced by reflecting on the phenomena that have been brought to light, from time to time, as factors on which the difference in competitiveness among firms and the related processes of economic value creation are dependent.

A first interpretation attempt is summarized by the concept of experience curve on which the dynamics of production costs depend (Henderson, 1983). Among the various phenomena that determine the evolution of the efficiency profile of enterprises, in addition to the economies of scale, it may be pointed out that the most efficient firms, in the stage of market maturity, are those that have developed during the industry's growth phase a more intense or accelerated learning process. This led them to have the best production capabilities in the maturity phase, reflected in their cost positioning.

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