Dynamic Capabilities-Based and Environment Serving Organization-Based Concepts in Strategic Management: Are They Complementary? A Theoretical Overview
In the last few decades resource-based concepts have been discussed and seemingly accepted by many scholars in strategic management. Some have argued and challenged them since many companies struggle to obtain and apply the strategic tools to enhance their performance and competitiveness. Competitive advantage is moving toward a different paradigm, following dynamic competition and market turbulence. In the current era of the digital economy a company’s top and general managements can be blamed for not smartly leveraging their resources and responding to their customers on time with the right offerings. Therefore, it is difficult to sustain competitive advantage. This research, using theories and a practical approach, discuss the relevance of strategic management concepts, especially Dynamic Capabilities-based, Resource-based and Environment Serving Organization-based (ESO-based) perspective in the current industrial context, as the real root of strategic management theories. This paper concludes that both Dynamic Capabilities-Based as well as Resource-Based concepts complement the ESO-based concept and therefore deserved to be explored further as a strategic formula for companies.
Keywords: resource-based; dynamic-capabilities; ESO-based; competitive advantage
 Ansoff, H. I. (1958). A Model for Diversification Management Science 4 : 392–414.
 Ansoff, H. I., Avner, J., Brandenburg, R. G., Portner, F. E., Radosevich, R. (1970). Does Planning Pay? The Effect of Planning on Success of Acquisitions in American Firms, Long Range Planning.
 Ansoff, H. I. (1977). Strategy Formulation As A Learning Process: An Applied Managerial Theory of Strategic Behavior International Studies of Management & Organization Vol. 7, No. 2, pp. 58–77. (Published by: M.E. Sharpe, Inc.).
 Ansoff, H. I. (1987). Strategic Management of Technology Journal of Business Strategy, Vol. 7 Iss 3 pp. 28–39.
 Ansoff, H. I. (1988). The New Corporate Strategy ( John Wiley & Sons, Inc., New York. Published originally as Corporate Strategy, New York: McGraw-Hill, 1965).
 Ansoff, H. I. and Mc Donnell, E. (1990). Implanting Strategic Management, 2nd Edition (Prentice Hall International, Cambridge, U.K.).
 Ansoff, H. I. and Sullivan, P. A. (1993). Optimizing Profitability in Turbulent Environments: A Formula for Strategic Success Long Range Planning Vol 26, N0. 5, pp. 11–23.
 Barney, J.B. (1991). Firm Resources and Sustained Competitive Advantage, Journal of Management 17, No. 1, 99–120.
 Barney, J.B. (2001). Is The Resource-Based “View” A Useful Perspective For Strategic Management Research? Yes Academy of Management Review Vol. 26, No. 1, 41–56.
 Djohar, S. (1991). The Relationships Between Strategic Effectiveness, Competitive Efficiency and Performance in Indonesian Firms an unpublished dissertation at the Graduate Faculty of the School of Business and Management, United States International University, San Diego, California, U.S.A.
 Eisenhardt K.M., Martin J.A. (2000). Dynamic Capabilities: What Are They? Strategic Management Journal, Vol. 21, No 10/11, Special Issue: The Evolution of Firm Capabilities, pp. 1105–1121.
 Freidank, J. (1994). Managing Transformational Change in German Business Firms an unpublished dissertation at the Graduate Faculty of the School of Business and Management (United States International University, San Diego, California, U.S.A.).
 Han, Y. W. (1999). The Relationships Between Environmental Turbulence, Top Manager Mindset, Organization Culture, Power and Performance in Korean Firms an unpublished dissertation at the Graduate Faculty of the College of Business Administration (United States International University, San Diego, California, U.S.A.)
 Hughes M., Martin S. L., Morgan R. E., and Robson, M. J. (2010). Realizing Product-Market Advantage in High-Technology International New Ventures: The Mediating Role of Ambidextrous Innovation Journal of International Marketing (American Marketing Association) Vol. 18, No. 4, pp. 1–21.
 Hughes, P., and Morgan, R. E. (2008). Fitting strategic resources with product-market strategy: Performance implications Journal of Business Research 6, 323–331.
 Hussain S., Khattak, J., Rizwan, A., and Latif M. A. (2013) Ansoff Matrix, Environment, and Growth – An Interactive Triangle Management and Administrative Sciences Review ISSN: 2308-1368 Volume: 2, Issue: 2, Pages: 196–206.
 Kerin, R. A., and Peterson, R. A. (2013). Strategic Marketing Problems, Cases and Comments (13th Ed.) New Jersey: Pearson Education Limited.
 Mintzberg, H., Ahlstrand B., Lampel J. (1998). Strategy Safary, The Complete Guide Through The Wilds Of Strategic Management, Prentice Hall, London.
 Moussetis, R. C., Rahma, A. A., and Nakos, G. (2005). Strategic Behavior and national culture: the case of the banking industry in Jordan”, competitiveness Review, International Business Journal, Vol. 15, Iss 2 pp. 101–115.
 Oroh. A. N. (2016). Does Synergy Mentality Mediate between Strategic Planning Relationship and a Firm’s Performance? An Empirical Study of Manufacturing Companies in Indonesia Pertanika J. Soc. Sci. & Hum. 24 (S): 125–138, ISSN: 0128-7702 © Universiti Putra Malaysia Press.
 Oroh, A. N. (2018). Does Environment-Serving-Organisation Concept Affect Firm Performance? A Strategic Perspective Pertanika J. Soc. Sci. & Hum. 26 (T): 239–252, ISSN: 0128-7702 © Universiti Putra Malaysia Press.
 Peteraf, M. A. (1993). The Cornerstones of Competitive Advantage: A Resource-Based View Strategic Management Journal, Vol. 14, 179–191 ( John Wiley & Sons, Ltd.).
 Peteraf, M. A., and Barney, J. B. (2003). Unraveling The Resource-Based Tangle Managerial and Decision Economics 24, pp 309–323, (John Wiley & Sons, Ltd.).
 Porter, M. E. (1983). Industrial Organization and The Evolution of Concepts for Strategic Planning: The New Learning, Managerial and Decision Economics, Vol. 4 No 3, Corporate Strategy.
 Porter, M. E. (1985) Competitive Advantage, Creating and Sustaining Superior Performance, The Free Press, New York.
 Porter, M. E. (1996). What Is Strategy, Harvard Business Review, Reprint 96608, by the President and Fellows of Harvard College.
 Priem, R.L., and Butler, J.E. (2001). Is the Resource-Based ”View” a Useful Perspective for Strategic Management Research? Author(s): Richard L. Priem and John E. Butler Source: The Academy of Management Review, Vol. 26, No. 1, pp. 22–40 Published by: Academy of Management.
 Rivkin, J. W. (2006). An Options-led Approach to Making Strategic Choices Harvard Business School, 9-702–433, (President and Fellows of Harvard College).
 Shanley, M., and Peteraf, M. (2004). Deploying, Leveraging, and Accessing Resources Within and Across Firm Boundaries: Introduction to the Special Issue Managerial and Decision Economics, 25, 291–297.
 Teece, D.J., Pisano, G., Shuen, A. (1997). Dynamic Capabilities and Strategic Management, Strategic Management Journal, Vo. 18:7, 509–533, John Wiley & Sons, Ltd.
 Vorhies, D. W., Morgan, R. E., and Autry, C. W. (2009). Product-Market Strategy and The Marketing Capabilities of The Firm: Impact on market effectiveness and cash flow performance Strategic Management Journal, 30, 1310–1334.
 Wainaina, N. G., and Oloko, M. (2016). Market Penetration Strategies and Organizational Growth: A Case of Soft Drink Sector in Kenya International Journal of Management and Commerce Innovations ISSN 2348-7585 (Online) Vol. 3, Issue 2, pp: (219–227).
 Wernerfelt, B. (1984). A Resource-Based View of the Firm, Strategic Management Journal, Vol. 5, No. 2, pp. 171–180.
 Wernerfelt, B. (1995). The Resource-Based View Of The Firm: Ten Years Later, Strategic Management Journal, Vol. 16 No.3, 171–174.
 Yum, J. (2000). The Relationships Among Environmental Turbulence, Strategic Aggressiveness of Information Technology, Organizational Information Technology Capability, and Organizational Performance an unpublished dissertation at the Graduate Faculty of the College of Business Administration (United States International University, San Diego, California, U.S.A.).
 Zoysa, A. D., and Herath, S. K. (2007). The Impact of Owner/Managers’ Mentality on Financial Performance of SMEs in Japan: An empirical investigation Journal of Management Development, Vol. 26 No. 7, pp. 652–666, Emerald Group Publishing Limited.