Resource-based advantages are ‘built', not bought, and have typically emerged from complex development processes that are, to a significant degree, ‘unmanaged'. Set against this reality are strategy process prescriptions that encourage managers to adopt deliberate, formal, analytical...

The text offers a review of the perspectives of Institutional and Resource Dependence, and shows a practical application based on the analysis of organizational strategic adaptation in the case study of a family-run furniture manufacturer and retailer. While the institutional perspective...