Strategic models at the business level: Toward an integrative contingency approach

Since Ackoff (1970) suggested that a business strategy can be formulated on the basis of the key relationship between managerially controllable (strategic) and uncontrollable (environmental) variables, many research studies have explored strategic models that explain performance in terms of strategy and environment. However, relatively little progress has been made towards developing integrative contingency models of strategy, despite increasing interest in contingency models of strategy research. Also, very little research has been conducted to explore the strategic model on multiple performance objectives such as profit, market share, and risk.