CANS 406 Lecture Notes - Lecture 10: Lydia Pinkham, Strategic Management, Free Trade
22 May 2018
School
Department
Course
Professor
Institution-based view
Feb 8th, 2018
Models related to competitive strategy decision
• Industry/organization mode
• Resource based model
• Institution based model
•
Institution-base view of strategic management (peng, Sun, Pinkham & Chan, 2009)
• Institutions-based view: 3rd leg to supplement industrial organization and resource-based view
frameworks
• Institutions matter to strategic management as "rule of game"
• 2 approaches as foundation for institution-based view of strategic management
o Institutional economics
• Institutions are "humanly devised constraints that structure human interaction"
o Sociological institutionalism
• Institutions as "regulative, normative and cognitive structures that provide stability
and meaning to social behavior"
o Both approaches distinguish formal and informal institutions
• Formal: laws, regulations, rules, coercive mechanism
• Informal: norms, cultures, ethics, normative, cognitive mechanisms
How the 3 approaches address 4 key strategic management questions
1. Why do firms differ (or conform)?
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