A Comparison an d Contrast of Strategic Management and Classical Economic Concepts: Definition, Comparison, and Pursuit of Advantages

Abstract

The field of strategic management contains a diverse set of research interests and paradigms. Also, there is ambiguity of purpose and definition evident within that set of interests and paradigms. By examining that set with the perspective provided by classic al economic concepts of absolute and comparative advantage, a goal that points toward increased clarity of purpose and definition may be achieved within strategic management research, the teaching of strategic management concepts, and practitioner efforts to gain competitive advantage.