Strategy as a field is relatively new.
It emerged during the 1970s and the early 1980s out of a requirement to have a business policy capstone class. One of the key indicators of the legitimacy of an area of study as a field are specialty journals. One of the first strategy-focused journals, Strategic Management Journal, started in 1981.
Early in the field, the focus was on two core ideas: strategy content and strategy process.
This research drew on sociology, social psychology, and cognitive psychology. Scholars were focused on questions such as:
- How are strategies chosen?
- See Andrews (1971), Bower (1970), Mintzberg (1978), Burgleman (1983)
- How do decision making biases factor into this process?
- See Tversky and Kahneman (1974), Schwenk (1984), Mason, (1969)
- What is the best strategy to pursue?
- At the industry level: Porter (1980)
- At the corporate level: Chandler (1966), Rumelt (1974), Montgomery, (1981)