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Towards an integrated perspective of strategy: The value‐process framework

Albrecht Enders (IMD, Lausanne, Switzerland)
Andreas König (Universität Erlangen Nürnberg, Nürnberg, Germany)
Harald Hungenberg (Universität Erlangen Nürnberg, Nürnberg, Germany)
Thomas Engelbertz (Venture Capital & Start‐Ups, Vodafone Group, Walnut Creek, California, USA)

Journal of Strategy and Management

ISSN: 1755-425X

Article publication date: 20 February 2009

4531

Abstract

Purpose

The purpose of this paper is to provide a conceptual tool that would help managers to integrate the findings from strategy frameworks such as the value chain, the five forces or the VRIO framework by jointly analyzing the different levers of competitive advantage.

Design/methodology/approach

Building on the extant literature the paper develops a strategy framework that integrates the internal and external dimensions of strategy formulation. To illustrate a practical application of the value‐process framework, the paper presents a case study of a project at the German music corporation Sony BMG.

Findings

The value‐process framework serves managers as a conceptually unifying analysis tool that contributes to their understanding of the main levers that help to create a sustainable competitive advantage. The framework can be used to visually integrate isolated strategy frameworks by jointly analyzing the different levers of competitive advantage, and to develop consistent and integrated strategies that simultaneously take into account the internal and external perspectives of strategic decision making.

Originality/value

While the existing strategy literature is good at providing specific concepts and tools of strategy analysis, it rarely connects the different dimensions and points out their interdependencies. As a result, strategic analyses are often fragmented and isolated from their broader context. The value‐process framework aims to provide an overarching perspective that helps to integrate the different dimensions of strategy formulation.

Keywords

Citation

Enders, A., König, A., Hungenberg, H. and Engelbertz, T. (2009), "Towards an integrated perspective of strategy: The value‐process framework", Journal of Strategy and Management, Vol. 2 No. 1, pp. 76-96. https://doi.org/10.1108/17554250910948712

Publisher

:

Emerald Group Publishing Limited

Copyright © 2009, Emerald Group Publishing Limited

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