Enhancing the Integration of Resource and Context Frameworks: Does Resource-Based Theory Enhance the Explanations of Neo-Institutional Theory in Strategic Management- A Synthetic Conceptual Research

Abstract

This study aims to present a composite theoretical framework that integrates components of Neo-Institutional Theory and Resource-Based Theory. Therefore, a conceptual research methodology was adopted, employing a theory synthesis design. The fundamental principles of both theories were analyzed by deconstructing the concepts of: Conformity, Isomorphism, heterogeneity, and valuable, scarce, and difficult-to-imitate resources. The preliminary findings indicate that integrating the conceptual components of the theories under study provides profound explanations for understanding organizational and strategic phenomena. External environmental factors can be leveraged to enhance organizational resources, ensuring the survival and continuity of organizations in diverse contexts. Furthermore, the findings demonstrate that the theoretical integration of these theories can enhance strategic decision-making in practice and enable organizations to achieve sustainable competitive advantages