Abstract

This article casts in high relief the paradigmatic rigidity in strategy research by highlighting the underlying philosophical assumptions (ontological, epistemological, methodological), their advantages, and their limitations. The article discusses four philosophical paradigms that underpin strategy research. While positivism and constructivism are the dominant paradigms, critical realism and pragmatism as relevant philosophical perspectives are also discussed. Using entrepreneurial opportunity as an exemplar, the article explains how philosophical assumptions inform the researchers’ worldview and guide research within a paradigm. The article contends that paradigmatic dogmatism is undesirable in any discipline, more so in a relatively young discipline such as strategic management. Rather than adhering to and nestling inside a single metatheoretical paradigm, the article calls for a more reflexive philosophical approach in strategy research to gain fresh perspectives.