A game theoretic perspective on market-oriented versus innovative strategic choice

Firms have a number of strategic orientations they can adopt in their attempts to maximize their chances of obtaining extraordinary profits. These include an entrepreneurial or innovative orientation, a megamarketing orientation and/or a market orientation. In deciding which of these alternatives to pursue, firms must evaluate their internal resources and the environment to find an ideal strategic fit. In making this choice, a game theoretic perspective postulates that firms will eliminate dominated strategies or those strategic alternatives that would take a firm into a product market position with strong (dominating) competitors.