Competitive strategy in three dimensions : towards a model for enhancing learning
Part of : MIBES Transactions : international journal ; Vol.2, No.1, 2008, pages 78-94
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78-94
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This paper briefly reviews ideas of competitive advantage from the development of Porter’s generic strategy ideas to the present day. It is the first part of a study to investigate ways to improve the teaching and learning of strategy. There has been a history of searching for models that allow the simple classification of firms’ strategies into specific ideal types. These models contain gaps and ambiguous concepts. This paper contends that interweaving the positional ideas of Porter with resource based ideas (Barney, 1991) in a single model allows student to better understand the complexity of real life strategic situations. A three dimensional model that can be used in such an exercise is proposed. The strategy cube model uses price, cost and perceived benefits for understanding competitive advantage from both a market and resource perspective (Jenkins, 2004, Jenkins, 2005). The model also seeks to emphasise the dynamic nature of strategy and the concept that firms exist in competitive situations that may be temporary. The aim is to help students to understand the complex nature of strategy as something beyond positioning in a static market. Some initial results indicate that students using this model do gain an understanding of competition and competitive advantage that is multi-faceted. It is intended to use this model in student assignments, to assess the assignments and then interview students about their understanding. Teachers will also be interviewed in future studies. Through this process it is intended to identify areas that students find troublesome and hence further improve strategy teaching. These ideas are related to those of threshold concepts in that it is intended to help students to gain greater insights into strategy by having a greater understanding of its underpinning concepts (Meyer and Land, 2005).
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