9/09/2013 1 Blue Ocean Strategy W. Chan Kim and Renee Maubourgne Revision Strategy and Sustainability 9 Sustainability, the capacity to endure, has become a topic of global concern in recent years, but it has long been a concept central to strategic management. Though much has been learned over the years about how firms develop, acquire, and utilize resources to create sustainable competitive advantage, fundamental changes in competitive environments and in social concerns raise a relatively new and unaddressed set of issues in strategic management research and practice which present an opportunity to revisit our notions of sustainability. 9 Frequent significant changes in the nature of competitive business environments have challenged what it means to have sustained competitive advantage. Rapid shifts in the political and economic climates of multiple economies, shifting or disappearing industry boundaries, and the emergence of new technologies, including social media, have all influenced the pace and complexity of competitive interaction . Separately and together, these dynamics have called into question established conceptualizations of sustainable competitive advantage. In recent years these changes have highlighted the need for renewed focus on how competitive advantage is sustained, including the processes by which firms utilize their current resources and make choices regarding investment in the future resources that will lay the foundation for their future competitive success. 2
9/09/2013 2 9 Recently, increasing attention to ecological and social sustainability has suggested new dimensions for the concept of sustainability in strategic management research. These added dimensions raise questions about how researchers and managers can integrate social and ecological dimensions into business and corporate level strategy in a way that enhances, rather than detracts from, the creation of sustainable advantage. 9 How is the ability to create and sustain advantage influenced by firm responses to increasing pressures from governments, customers, and other stakeholders to operate in a manner that promotes not only economic but also ecological and social sustainability? How will (or should) these concerns influence how a firm competes, the resources it creates and consumes, and the nature of the competitive advantages it attains? 3 Revision Strategy and Sustainability 9 How do organizational changes toward a sustainable company unfold? 9 Are certain characteristics of ensuing processes accelerating organizational moves toward sustainability? 9 How do broader societal processes emphasizing sustainability affect firms’ strategy processes? 9 How do strategic decision-makers adapt their strategy processes to the changing demands?
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