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The Historical Development of the Strategic Management Discipline
Abstract
The purpose of this chapter is to explain the origins of strategic management. It highlights the different perspectives of strategy that have emerged from economics research. It gives a brief history of economics within strategic management. It addresses particularly the meaning of “strategy” and “strategic management.” It describes a general overview of the evolving nature of the strategy discipline. Strategic management is a concept that has evolved over time and will continue to evolve. As a field of study, strategy or strategic management is relatively recent. Its theoretical foundations come mainly from economics (economic theory, international economics) and industrial organization studies. Developments in industrial organization theory stress the importance of strategic behavior by firms.
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