Sustainable Competitive Advantage as an Outcome of Strategic Thinking: Evidence from Review of Literature
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Date
2024-03
Authors
Ndei, Florence Muthoni
Kinyua, Godfrey Muigai
Journal Title
Journal ISSN
Volume Title
Publisher
IJERN
Abstract
In the rapidly evolving market industry of the modern business world, the concept of sustainable
competitive advantage has emerged as a key determinant of the level of firms’ success. Sustainable
competitive advantage grows fundamentally out of the firm’s efforts to provide valuable, rare, nonimitable and non-substitutable services with the firms having the ability to utilize the organizational
capabilities and resources. In the era of constant changes in conditions of business environment,
firms must implement practices that establish competitive advantage in the long run. Use of
traditional methods to make organizational decisions has been deemed unsuccessful due to
complexity and dynamism in the business environment. It is therefore important and potentially
beneficial for firms to embrace strategic thinking as a more reliable way of making determination
and charting the path for creating customer value. Indeed, strategic thinking has been praised as
potentially being able to confer a firm with the ability to envision and anticipate its desired future
and realistically connect this future with present state of the enterprise. This study sought to review
the existing conceptual, theoretical and empirical literature in strategic thinking and sustainable
competitive advantage as well as propose theoretical model that guide research in these phenomena.
Through extensive review of literature, this study has clearly demonstrated that sustainable
competitive advantage is among the dominant outcomes of strategic thinking. This study also
adopted resource-based view and dynamic capabilities theory as theoretical underpinnings of the
constructs of strategic thing and sustainable competitive advantage. A review of both theoretical
and empirical literature revealed various research gaps on the construct of strategic thinking and
sustainable competitive advantage. The review identified lack of consensus in conceptualization and
measurement of strategic thinking and sustainable competitive advantage. A theoretical model was
developed to serve as a guide for future research work seeking to provide empirical evidence of the
causal link between strategic thinking and sustainable competitive advantage in diverse contexts in
order to form a reliable basis for guiding policy development and practice regarding these key
organizational phenomena.
Description
Article
Keywords
Strategic Thinking, Competitive Advantage and Sustainable Competitive Advantage
Citation
Ndei, F. M., & Kinyua, G. M. Sustainable Competitive Advantage as an Outcome of Strategic Thinking: Evidence from Review of Literature.