Competitive strategies, market orientation types and innovation strategies: finding the strategic fit
| Published date | 10 July 2017 |
| Pages | 257-261 |
| Date | 10 July 2017 |
| DOI | https://doi.org/10.1108/WJEMSD-11-2016-0048 |
| Author | Narentheren Kaliappen,Haim Hilman |
| Subject Matter | Strategy,Business ethics,Sustainability |
Competitive strategies, market
orientation types and innovation
strategies: finding the strategic fit
Narentheren Kaliappen and Haim Hilman
School of Business Management, College of Business,
Universiti Utara Malaysia, Sintok, Malaysia
Abstract
Purpose –The purpose of this paper is to review the strategic fit of competitive strategies, market
orientation types and innovation strategies.
Design/methodology/approach –The paper is prepared by reviewing the relevant literatures on
competitive strategies, market orientation types and innovation strategies as well as comparing and
contrasting the common characteristics to attain fit.
Findings –The paper presents the criteria for distinguishing the different types of competitive strategies,
market orientations and innovation strategies, along with a framework that fits a particular type of
competitive strategy, market orientation and innovation strategy.
Practical implications –The paper provides an action framework based on characteristics of the
competitive strategi es (business strateg y) along with the benefit s of adopting a particu lar market
orientation type and inn ovation strategy (funct ional strategies). This w ill facilitate the manage rs to
execute appropriate c ompetitive strategy th at could well align with ap propriate market orie ntation and
innovation strategy.
Originality/value –This brief paper presents an original framework, with significant practical applications
in a concise manner. The framework will provide a guide to the hotel top management in shaping and fitting
an appropriate competitive strategies, market orientation types and innovation strategies.
Keywords Strategic fit, Competitive strategies, Market orientation types, Innovation strategies
Paper type Research paper
Many industries are keeping in front numerous confrontations in the present global
economic situation. Indeed, the hospitality business is in front of the various challenges
such as the effect of globalization, increased rivalry, radical information technologies,
increased environmental turbulences and escalating customers’preferences. Hence, today’s
management required to perform more than merely fixed long-term strategies and
anticipate for the paramount. To strive, hotel management needs an efficient strategic
implementation that could transform overall strategic direction to encounter the hyper-
competition. This situation has forced more and more hoteliers to change their management
to strategic management. Is there a way to overcome the above-mentioned problems?
Perhaps yes; but that needs understanding the role of competitive strategies as business
strategy and finding efficient market orientation types and innovation strategies as
functional strategies to fit into it. Each strategic factor has greater potential to curb the
problems faced by the hoteliers in current hyper competitive business environment.
Failure to execute right strategies to deal with this hard situation could jeopardize the
hotel’s performance and prospects.
Porter’s competitive strategies revisited
Porter (1980) developed the generic competitive strategy typology which advanced the idea
that a sustainable competitive advantage depends on the degree of value a firm generates
for its stakeholders. Porter suggested that cost leadership strategy and differentiation
strategy were the two main generic strategies which impose on creating competitive
World Journal of
Entrepreneurship, Management
and Sustainable Development
Vol. 13 No. 3, 2017
pp. 257-261
© Emerald PublishingLimited
2042-5961
DOI10.1108/WJEMSD-11-2016-0048
The current issue and full text archive of this journal is available on Emerald Insight at:
www.emeraldinsight.com/2042-5961.htm
257
Competitive
strategies
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