Not all actions are the same. Consider two types of strategic actions: growth actions aim to enhance a firm's position in its markets, for instance by product launches or market entries. Joint actions create partnerships or mergers and acquisitions (M&As) with other firms and hence are the basis for new, joint positions. We argue that these types of actions are triggered by different types of performance pressures: firms facing set-backs in their pursuit of market share likely take growth actions to strengthen their market position, while firms with low profitability may lack the financial strength to take actions alone, and thus
are likely to take joint actions to improve their financial position. Both types of actions are facilitated by firm resources, such as leader strategic competences. However, joint actions may be particularly suitable for firms that need to fill resource gaps.