The kernel of strategy contains three elements: - Richard P. Rumelt

Back in the mid-1990s I was researching strategy in the global electronics industry. I interviewed 20 to 30 executives, CEOs, and division managers and asked fairly simple questions. Which company was the leader in their market? How did that company become the leader? What’s their own company’s strategy?

A major advancement in the strategy field is the development of models where firm heterogeneity is an endogenous creation of economic actors.

In summary, uncertain imitability obtains shen creation of new production functions is inherently uncertain and when either causal ambiguity or property rights in unique resources impede imitation and factor mobility.