Trends in business strategy research, bibliometric analysis and text mining
Abstract
This study aims to contribute to the systematisation of knowledge in the field of business strategies and analyse its trends. An initial dataset of 884 articles was extracted from the WoS and Scopus databases based on keywords. This dataset was reduced to 430 articles by detailed reading and processed through bibliometric analysis and text mining. The bibliometric analysis confirmed an increasing number of articles, unbalanced contributions of individual journals, and unbalanced citation rates by articles and authors. Textmining analysis showed the dominance of Porter’s generic strategies and Miles and Snow’s typology of strategies. The results show that the theory of business strategy is not subject to trends and has not yet been significantly affected by changes in real business, thus creating opportunities for future research. This study addresses the gap in the comprehensive review of trends in business strategy development.
Keyword : literature review, business strategy, competitive strategy, business-level strategy, bibliometric analysis, text mining
How to Cite
Dvorak, J., Tripes, S., Sokolova, M., & Musilova, I. (2022). Trends in business strategy research, bibliometric analysis and text mining. Journal of Business Economics and Management, 23(6), 1377–1397. https://doi.org/10.3846/jbem.2022.18301
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Armstrong, J. S., & Overton, T. S. (1977). Estimating nonresponse bias in mail surveys. Journal of Marketing Research, 14(3), 396–402. https://doi.org/10.2307/3150783
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Barney, J. B. (2001). Is the resource-based “View” a useful perspective for strategic management research? Yes. Academy of Management Review, 26(1), 41–56. https://doi.org/10.5465/amr.2001.4011938
Bressan, A., Sakellarios, N., & Duarte Alonso, A. (2016). A resource based approach in the context of the emerging craft brewing industry. European Business Review, 28(5), 560–582. https://doi.org/10.1108/EBR-12-2015-0176
Broadus, R. (1987). Toward a definition of bibliometrics. Scientometrics, 12(5–6), 373–379. https://doi.org/10.1007/BF02016680
Christodoulou, I., & Langley, P. A. (2020). A gaming simulation approach to understanding blue ocean strategy development as a transition from traditional competitive strategy. Journal of Strategic Marketing, 28(8), 727–752. https://doi.org/10.1080/0965254X.2019.1597916
Conant, J. S., Mokwa, M. P., & Varadarajan, P. R. (1990). Strategic types, distinctive marketing competencies and organizational performance: A multiple measures-based study. Strategic Management Journal, 11(5), 365–383. https://doi.org/10.1002/smj.4250110504
Denyer, D., & Tranfield, D. (2009). Producing a systematic review. In D. A. Buchanan & A. Bryman (Eds.), The Sage handbook of organizational research methods (pp. 671–689). Sage Publications Ltd.
DeSarbo, W. S., Benedetto, C. A. D., Song, M., & Sinha, I. (2005). Revisiting the Miles and Snow strategic framework: Uncovering interrelationships between strategic types, capabilities, environmental uncertainty, and firm performance. Strategic Management Journal, 26(1), 47–74. https://doi.org/10.1002/smj.431
Dess, G. G., & Davis, P. S. (1984). Porter’s (1980) generic strategies as determinants of strategic group membership and organizational performance. Academy of Management Journal, 27(3), 467–488. https://doi.org/10.5465/256040
Dess, G. G., Newport, S., & Rasheed, A. (1993). Configuration research in strategic management – Key issues and suggestions. Journal of Management, 19(4), 775–795. https://doi.org/10.1016/0149-2063(93)90027-K
Dhliwayo, S. (2014). Entrepreneurship and competitive strategy: An integrative approach. Journal of Entrepreneurship, 23(1), 115–135. https://doi.org/10.1177/0971355713513356
Drnevich, P. L., & Croson, D. C. (2013). Information technology and business-level strategy: Toward an integrated theoretical perspective. Mis Quarterly, 37(2), 483–509.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
Galbreath, J., Lucianetti, L., Thomas, B., & Tisch, D. (2020). Entrepreneurial orientation and firm performance in Italian firms: The moderating role of competitive strategy. International Journal of Entrepreneurial Behavior & Research, 26(4), 629–646. https://doi.org/10.1108/IJEBR-07-2019-0457
Ghemawat, P. (2002). Competition and business strategy in historical perspective. Business History Review, 76(1), 37–74. https://doi.org/10.2307/4127751
Ghezzi, A. (2013). Revisiting business strategy under discontinuity. Management Decision, 51(7), 1326–1358. https://doi.org/10.1108/MD-05-2012-0388
Gould, A., & Desjardins, G. (2015). A spring-clean of Michael Porter’s Attic: The Canadian telecommunications sector as an exemplar of refurbished generic strategy. Competitiveness Review, 25(3), 310–323. https://doi.org/10.1108/CR-04-2014-0008
Guerras-Martín, L. Á., Madhok, A., & Montoro-Sánchez, Á. (2014). The evolution of strategic management research: Recent trends and current directions. BRQ Business Research Quarterly, 17(2), 69–76. https://doi.org/10.1016/j.brq.2014.03.001
Habbershon, T. G., & Williams, M. L. (1999). A resource-based framework for assessing the strategic advantages of family firms. Family Business Review, 12(1), 1–25. https://doi.org/10.1111/j.1741-6248.1999.00001.x
Hambrick, D. C. (1983). Some tests of the effectiveness and functional attributes of Miles and Snow’s strategic types. Academy of Management Journal. Academy of Management, 26(1), 5–26.
Hart, C. (1998). Doing a literature review: Releasing the social science research imagination. Sage Publications Ltd.
Hill, C. W. L. (1988). Differentiation versus low-cost or differentiation and low-cost: A contingency framework. Academy of Management Review, 13(3), 401–412. https://doi.org/10.2307/258088
Hill, C. W. L., Schilling, M. A., & Jones, G. R. (2017). Strategic management: Theory (12th ed.). Cengage Learning.
Hutzschenreuter, T., & Israel, S. (2009). A review of empirical research on dynamic competitive strategy. International Journal of Management Reviews, 11(4), 421–461. https://doi.org/10.1111/j.1468-2370.2008.00246.x
Kim, E., Nam, D., & Stimpert, J. L. (2004). The applicability of Porter’s generic strategies in the digital age: Assumptions, conjectures, and suggestions. Journal of Management, 30(5), 569–589. https://doi.org/10.1016/j.jm.2003.12.001
Kim, W. C., & Mauborgne, R. (2005). Blue Ocean strategy: How to create uncontested market space and make competition irrelevan. Harvard Business Review Press.
Kulkarni, B., & Sivaraman, V. (2020). Making a Blue Ocean Shift: Tata Ace captures a new market. Journal of Business Strategy, 41(4), 11–20. https://doi.org/10.1108/JBS-03-2019-0057
Madhok, A., & Marques, R. (2014). Towards an action-based perspective on firm competitiveness. BRQ Business Research Quarterly, 17(2), 77–81. https://doi.org/10.1016/j.brq.2014.03.002
McDaniel, S. W., & Kolari, J. W. (1987). Marketing strategy implications of the Miles and Snow strategic typology. Journal of Marketing, 51(4), 19–30. https://doi.org/10.1177/002224298705100403
Miles, R. E., & Snow, C. C. (1978). Organizational strategy, structure, and process. McGraw-Hill. http://trove.nla.gov.au/version/50623947
Miller, D. (1988). Relating Porter business strategies to environment and structure – Analysis and performance implications. Academy of Management Journal, 31(2), 280–308.
Miller, J. G., & Roth, A. V. (1994). A taxonomy of manufacturing strategies. Management Science, 40(3), 285–304. https://doi.org/10.1287/mnsc.40.3.285
Murray, A. I. (1988). A contingency view of Porter’s “Generic Strategies”. Academy of Management Review, 13(3), 390–400. https://doi.org/10.5465/amr.1988.4306951
Nunnally, J. C. (1978). Psychometric theory (2nd ed.). Mcgraw-Hill.
Parnell, J. A. (2006). Generic strategies after two decades: A reconceptualization of competitive strategy. Management Decision, 44(8), 1139–1154. https://doi.org/10.1108/00251740610690667
Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879–903. https://doi.org/10.1037/0021-9010.88.5.879
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. Free Press.
Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. Free Press; Collier Macmillan.
Prahalad, C. K., & Hamel, G. (1990). The core competence of the corporation. Harvard Business Review, 68(3), 79–91.
Rothaermel, F. T. (2021). Strategic management (5th ed.). McGraw-Hill.
Ruiz Ortega, M. J. (2010). Competitive strategies and firm performance Technological capabilities’ moderating roles. Journal of Business Research, 63(12), 1273–1281. https://doi.org/10.1016/j.jbusres.2009.09.007
Santos-Vijande, M. L., Lopez-Sanchez, J. A., & Trespalacios, J. A. (2012). How organizational learning affects a firm’s flexibility, competitive strategy, and performance. Journal of Business Research, 65(8), 1079–1089. https://doi.org/10.1016/j.jbusres.2011.09.002
Senge, P. M. (2006). The fifth discipline: The art & practice of the learning organization (Revised & Updated edition). Doubleday.
Short, J. C., Payne, G. T., & Ketchen, D. J. (2008). Research on organizational configurations: Past accomplishments and future challenges. Journal of Management, 34(6), 1053–1079. https://doi.org/10.1177/0149206308324324
Shortell, S. M., & Zajac, E. J. (1990). Perceptual and archival measures of Miles and Snow’s strategic types: A comprehensive assessment of reliability and validity. Academy of Management Journal, 33(4), 817–832.
Snow, C. C., & Hrebiniak, L. G. (1980). Strategy, distinctive competence, and organizational performance. Administrative Science Quarterly, 25(2), 317–336. https://doi.org/10.2307/2392457
Spanos, Y. E., Zaralis, G., & Lioukas, S. (2004). Strategy and industry effects on profitability: Evidence from Greece. Strategic Management Journal, 25(2), 139–165. https://doi.org/10.1002/smj.369
Steelman, Z. R., Havakhor, T., Sabherwal, R., & Sabherwal, S. (2019). Performance consequences of information technology investments: Implications of emphasizing new or current information technologies. Information Systems Research, 30(1), 204–218. https://doi.org/10.1287/isre.2018.0798
Suoniemi, S., Meyer-Waarden, L., Munzel, A., Zablah, A. R., & Straub, D. (2020). Big data and firm performance: The roles of market-directed capabilities and business strategy. Information & Management, 57(7), 103365. https://doi.org/10.1016/j.im.2020.103365
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171–180. https://doi.org/10.1002/smj.4250050207
White, G. O., Guldiken, O., Hemphill, T. A., He, W., & Khoobdeh, M. S. (2016). Trends in international strategic management research from 2000 to 2013: Text mining and bibliometric analyses. Management International Review, 56(1), 35–65. https://doi.org/10.1007/s11575-015-0260-9
Zahra, S., & Pearce, J. (1990). Research evidence on the Miles-Snow typology. Journal of Management, 16(4), 751–768. https://doi.org/10.1177/014920639001600407
Zollo, M., Minoja, M., & Coda, V. (2018). Towards an integrated theory of strategy. Strategic Management Journal, 39(6), 1753–1778. https://doi.org/10.1002/smj.2712
Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007
Armstrong, J. S., & Overton, T. S. (1977). Estimating nonresponse bias in mail surveys. Journal of Marketing Research, 14(3), 396–402. https://doi.org/10.2307/3150783
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Barney, J. B. (2001). Is the resource-based “View” a useful perspective for strategic management research? Yes. Academy of Management Review, 26(1), 41–56. https://doi.org/10.5465/amr.2001.4011938
Bressan, A., Sakellarios, N., & Duarte Alonso, A. (2016). A resource based approach in the context of the emerging craft brewing industry. European Business Review, 28(5), 560–582. https://doi.org/10.1108/EBR-12-2015-0176
Broadus, R. (1987). Toward a definition of bibliometrics. Scientometrics, 12(5–6), 373–379. https://doi.org/10.1007/BF02016680
Christodoulou, I., & Langley, P. A. (2020). A gaming simulation approach to understanding blue ocean strategy development as a transition from traditional competitive strategy. Journal of Strategic Marketing, 28(8), 727–752. https://doi.org/10.1080/0965254X.2019.1597916
Conant, J. S., Mokwa, M. P., & Varadarajan, P. R. (1990). Strategic types, distinctive marketing competencies and organizational performance: A multiple measures-based study. Strategic Management Journal, 11(5), 365–383. https://doi.org/10.1002/smj.4250110504
Denyer, D., & Tranfield, D. (2009). Producing a systematic review. In D. A. Buchanan & A. Bryman (Eds.), The Sage handbook of organizational research methods (pp. 671–689). Sage Publications Ltd.
DeSarbo, W. S., Benedetto, C. A. D., Song, M., & Sinha, I. (2005). Revisiting the Miles and Snow strategic framework: Uncovering interrelationships between strategic types, capabilities, environmental uncertainty, and firm performance. Strategic Management Journal, 26(1), 47–74. https://doi.org/10.1002/smj.431
Dess, G. G., & Davis, P. S. (1984). Porter’s (1980) generic strategies as determinants of strategic group membership and organizational performance. Academy of Management Journal, 27(3), 467–488. https://doi.org/10.5465/256040
Dess, G. G., Newport, S., & Rasheed, A. (1993). Configuration research in strategic management – Key issues and suggestions. Journal of Management, 19(4), 775–795. https://doi.org/10.1016/0149-2063(93)90027-K
Dhliwayo, S. (2014). Entrepreneurship and competitive strategy: An integrative approach. Journal of Entrepreneurship, 23(1), 115–135. https://doi.org/10.1177/0971355713513356
Drnevich, P. L., & Croson, D. C. (2013). Information technology and business-level strategy: Toward an integrated theoretical perspective. Mis Quarterly, 37(2), 483–509.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
Galbreath, J., Lucianetti, L., Thomas, B., & Tisch, D. (2020). Entrepreneurial orientation and firm performance in Italian firms: The moderating role of competitive strategy. International Journal of Entrepreneurial Behavior & Research, 26(4), 629–646. https://doi.org/10.1108/IJEBR-07-2019-0457
Ghemawat, P. (2002). Competition and business strategy in historical perspective. Business History Review, 76(1), 37–74. https://doi.org/10.2307/4127751
Ghezzi, A. (2013). Revisiting business strategy under discontinuity. Management Decision, 51(7), 1326–1358. https://doi.org/10.1108/MD-05-2012-0388
Gould, A., & Desjardins, G. (2015). A spring-clean of Michael Porter’s Attic: The Canadian telecommunications sector as an exemplar of refurbished generic strategy. Competitiveness Review, 25(3), 310–323. https://doi.org/10.1108/CR-04-2014-0008
Guerras-Martín, L. Á., Madhok, A., & Montoro-Sánchez, Á. (2014). The evolution of strategic management research: Recent trends and current directions. BRQ Business Research Quarterly, 17(2), 69–76. https://doi.org/10.1016/j.brq.2014.03.001
Habbershon, T. G., & Williams, M. L. (1999). A resource-based framework for assessing the strategic advantages of family firms. Family Business Review, 12(1), 1–25. https://doi.org/10.1111/j.1741-6248.1999.00001.x
Hambrick, D. C. (1983). Some tests of the effectiveness and functional attributes of Miles and Snow’s strategic types. Academy of Management Journal. Academy of Management, 26(1), 5–26.
Hart, C. (1998). Doing a literature review: Releasing the social science research imagination. Sage Publications Ltd.
Hill, C. W. L. (1988). Differentiation versus low-cost or differentiation and low-cost: A contingency framework. Academy of Management Review, 13(3), 401–412. https://doi.org/10.2307/258088
Hill, C. W. L., Schilling, M. A., & Jones, G. R. (2017). Strategic management: Theory (12th ed.). Cengage Learning.
Hutzschenreuter, T., & Israel, S. (2009). A review of empirical research on dynamic competitive strategy. International Journal of Management Reviews, 11(4), 421–461. https://doi.org/10.1111/j.1468-2370.2008.00246.x
Kim, E., Nam, D., & Stimpert, J. L. (2004). The applicability of Porter’s generic strategies in the digital age: Assumptions, conjectures, and suggestions. Journal of Management, 30(5), 569–589. https://doi.org/10.1016/j.jm.2003.12.001
Kim, W. C., & Mauborgne, R. (2005). Blue Ocean strategy: How to create uncontested market space and make competition irrelevan. Harvard Business Review Press.
Kulkarni, B., & Sivaraman, V. (2020). Making a Blue Ocean Shift: Tata Ace captures a new market. Journal of Business Strategy, 41(4), 11–20. https://doi.org/10.1108/JBS-03-2019-0057
Madhok, A., & Marques, R. (2014). Towards an action-based perspective on firm competitiveness. BRQ Business Research Quarterly, 17(2), 77–81. https://doi.org/10.1016/j.brq.2014.03.002
McDaniel, S. W., & Kolari, J. W. (1987). Marketing strategy implications of the Miles and Snow strategic typology. Journal of Marketing, 51(4), 19–30. https://doi.org/10.1177/002224298705100403
Miles, R. E., & Snow, C. C. (1978). Organizational strategy, structure, and process. McGraw-Hill. http://trove.nla.gov.au/version/50623947
Miller, D. (1988). Relating Porter business strategies to environment and structure – Analysis and performance implications. Academy of Management Journal, 31(2), 280–308.
Miller, J. G., & Roth, A. V. (1994). A taxonomy of manufacturing strategies. Management Science, 40(3), 285–304. https://doi.org/10.1287/mnsc.40.3.285
Murray, A. I. (1988). A contingency view of Porter’s “Generic Strategies”. Academy of Management Review, 13(3), 390–400. https://doi.org/10.5465/amr.1988.4306951
Nunnally, J. C. (1978). Psychometric theory (2nd ed.). Mcgraw-Hill.
Parnell, J. A. (2006). Generic strategies after two decades: A reconceptualization of competitive strategy. Management Decision, 44(8), 1139–1154. https://doi.org/10.1108/00251740610690667
Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879–903. https://doi.org/10.1037/0021-9010.88.5.879
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. Free Press.
Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. Free Press; Collier Macmillan.
Prahalad, C. K., & Hamel, G. (1990). The core competence of the corporation. Harvard Business Review, 68(3), 79–91.
Rothaermel, F. T. (2021). Strategic management (5th ed.). McGraw-Hill.
Ruiz Ortega, M. J. (2010). Competitive strategies and firm performance Technological capabilities’ moderating roles. Journal of Business Research, 63(12), 1273–1281. https://doi.org/10.1016/j.jbusres.2009.09.007
Santos-Vijande, M. L., Lopez-Sanchez, J. A., & Trespalacios, J. A. (2012). How organizational learning affects a firm’s flexibility, competitive strategy, and performance. Journal of Business Research, 65(8), 1079–1089. https://doi.org/10.1016/j.jbusres.2011.09.002
Senge, P. M. (2006). The fifth discipline: The art & practice of the learning organization (Revised & Updated edition). Doubleday.
Short, J. C., Payne, G. T., & Ketchen, D. J. (2008). Research on organizational configurations: Past accomplishments and future challenges. Journal of Management, 34(6), 1053–1079. https://doi.org/10.1177/0149206308324324
Shortell, S. M., & Zajac, E. J. (1990). Perceptual and archival measures of Miles and Snow’s strategic types: A comprehensive assessment of reliability and validity. Academy of Management Journal, 33(4), 817–832.
Snow, C. C., & Hrebiniak, L. G. (1980). Strategy, distinctive competence, and organizational performance. Administrative Science Quarterly, 25(2), 317–336. https://doi.org/10.2307/2392457
Spanos, Y. E., Zaralis, G., & Lioukas, S. (2004). Strategy and industry effects on profitability: Evidence from Greece. Strategic Management Journal, 25(2), 139–165. https://doi.org/10.1002/smj.369
Steelman, Z. R., Havakhor, T., Sabherwal, R., & Sabherwal, S. (2019). Performance consequences of information technology investments: Implications of emphasizing new or current information technologies. Information Systems Research, 30(1), 204–218. https://doi.org/10.1287/isre.2018.0798
Suoniemi, S., Meyer-Waarden, L., Munzel, A., Zablah, A. R., & Straub, D. (2020). Big data and firm performance: The roles of market-directed capabilities and business strategy. Information & Management, 57(7), 103365. https://doi.org/10.1016/j.im.2020.103365
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171–180. https://doi.org/10.1002/smj.4250050207
White, G. O., Guldiken, O., Hemphill, T. A., He, W., & Khoobdeh, M. S. (2016). Trends in international strategic management research from 2000 to 2013: Text mining and bibliometric analyses. Management International Review, 56(1), 35–65. https://doi.org/10.1007/s11575-015-0260-9
Zahra, S., & Pearce, J. (1990). Research evidence on the Miles-Snow typology. Journal of Management, 16(4), 751–768. https://doi.org/10.1177/014920639001600407
Zollo, M., Minoja, M., & Coda, V. (2018). Towards an integrated theory of strategy. Strategic Management Journal, 39(6), 1753–1778. https://doi.org/10.1002/smj.2712