Competitive strategies, market orientation types and innovation strategies: finding the strategic fit

Abstract

PurposeThe purpose of this paper is to review the strategic fit of competitive strategies, market orientation types and innovation strategies.Design/methodology/approachThe paper is prepared by reviewing the relevant literatures on competitive strategies, market orientation types and innovation strategies as well as comparing and contrasting the common characteristics to attain fit.FindingsThe paper presents the criteria for distinguishing the different types of competitive strategies, market orientations and innovation strategies, along with a framework that fits a particular type of competitive strategy, market orientation and innovation strategy.Practical implicationsThe paper provides an action framework based on characteristics of the competitive strategies (business strategy) along with the benefits of adopting a particular market orientation type and innovation strategy (functional strategies). This will facilitate the managers to execute appropriate competitive strategy that could well align with appropriate market orientation and innovation strategy.Originality/valueThis brief paper presents an original framework, with significant practical applications in a concise manner. The framework will provide a guide to the hotel top management in shaping and fitting an appropriate competitive strategies, market orientation types and innovation strategies.