Strategic Aspects of Asset Management: An Overview of Current Research
Major shifts in the competitive environment encouraged a recent growth in the number of academic articles devoted to strategic aspects of asset management. Organizations start to recognize that a strategic approach to asset management becomes a source of sustainable competitive advantages and long-term survival in the turbulent environment. However, existing studies are largely case-specific in interpreting strategy and draw on various theoretical grounds and approaches. This leads to little theoretical and methodological consistency in understanding current findings and how to design future studies. The key goal of this paper is to systematically review the existing research through the analysis of over 700 articles devoted to asset management with a focus on strategic aspects. Our key contributions are positioning strategic asset management within the vast field of asset management research, describing the nature of strategic asset management research, and confirming that asset management strategies align with different levels of organizational strategy. We visualize the existing research field, and indicate gaps and underdeveloped areas of research. We also shortly outline future research directions based on our findings, thus encouraging a more coherent development of research on strategic asset management.