Searching in the past new strategic approaches: Creating and appropriating value through tradition

Starting from the increasing difficulties for firms to create new value for customers and consequently to achieve competitive advantage, the present paper proposes an alternative strategic approach based on the notion of tradition. Specifically, tradition is defined as the whole set of competencies, knowledge, values, and culture that characterize a specific firm, territory, and/or age. Analyzing three successful Italian companies (Barilla Group, Brunello Cucinelli Group, Aboca), the paper clearly shows how tradition may be effectively employed to face competition, allowing companies both to create and to appropriate value.