ABSTRACT
While the positioning and competency approaches have dominated the strategy field since the early 1980s, the last decade or so has seen a shift in emphasis away from the field's traditional focus on competition to a newer strategic logic of value innovation. Driving this shift has been the growing recognition that traditional routes to marking out and defending competitive space are becoming less and less effective as entry and mobility barriers are relentlessly assailed in market after market, switching costs are all but disappearing in many instances, and competencies tend to lose their market relevance more rapidly than before.
