(In)Tangible Resources As Antecedents of a Company's Competitive Advantage and Performance
Journal for East European Management Studies › Band 14 Nr. 2, April 2009
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Zusammenfassung
The paper's purpose is to add to the body of knowledge on the antecedents of a company's competitive advantage and performance by developing and testing a conceptual model. By using structural equation modelling the model is tested on a sample of 182 Slovenian companies. The results show that a cost advantage is positively affected by financial resources and customer capital, while a differentiation advantage is positively affected by financial resources and all three components of intellectual capital. In addition, both forms of competitive advantage positively influence a company's performance. The results offer important theoretical implications in fields such as resource-based theory and customer relationship management as well as important practical implications for managers.
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Auszug
(In)Tangible Resources As Antecedents of a Company's Competitive Advantage and Performance
Introduction
The process of competition between companies can be described as a causalconsecutive sequence "source of competitive advantage - [arrow right] form of competitive advantage (superior position)[arrow right]performance" (Day/Wensley 1988; Cater/Pucko 2006). In other words, if a company wants to build a competitive advantage in either of its two basic forms (cost leadership and differentiation (Porter 1985)), certain sources of a competitive advantage must first be developed. Once a company possesses such sources and knows how to transfer them into a competitive advantage it can reasonably expect to be successful.The sources of a company's competitive advantage have been addressed in the strategic management literature by two competing lines of study, one emphasising the external factors (characteristics of a company's environment) and the other emphasising the internal factors (company-specific resources, capabilities, knowledge etc.). Emphasis on the external factors is the essence of the "outside-in" approach addressed by researchers within the industrial organisation school (Mason 1939; Bain 1956; Porter 1980/1981/1985). On the other hand, emphasis on the internal factors forms the essence of the "insideout" approach addressed by researchers representing the resource-based school (Penrose 1959; Wernerfelt 1984; Barney 1991; Conner 1991; Grant 1991; Mahoney/Pandian 1992; Peteraf 1993), which builds on the assumption that a competitive advantage is proactively created by companies through their accumulation of unique resources, capabilities and knowledge.Most of the past studies show that, although both external and internal groups of factors have a statistically significant influence on company performance (Spanos/Lioukas 2001), it is internal factors that seem to be more important. Some studies report the following proportions between the variances of performance indicators explained by internal and external factors: 45.8% vs. 4.0% (Rumelt 1991), 36.9% vs. 6.2% (Mauri/Michaels 1998), 55.0% vs. 10.2% (Roquebert et al. 1996), 37.8% vs. 18.5% (Hansen/Wernerfelt 1989), a...Siehe den Gesamtinhalt dieses Dokumentes
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