Long-Term Performance of Political Parties

Whilst politicians can “buy” votes in the short-term, most political parties are more interested in maintaining power over a period of years in order to implement their policies. This paper explores whether political parties can be considered to possess long-term competitive resources that sustain their competitive advantages. It employs the well-established strategic management concept of the Resource-Based View of strategy development for this purpose. Because such a concept has not previously been applied to political parties, the paper begins by considering the nature of the competition that exists between political parties and the role of resources in developing superior political performance. A series of theoretical propositions about why some parties maintain political power and influence for lengthy periods is then developed. We argue that the competitive resources of a political party such as its policies, leadership, organisational and communications skills require long-term investment and development, rejecting the notion that long-term electoral success is based primarily on the promises and resources deployed in the final election campaign.