DO NOT USE ANY AI Objective: Explore the unique contributions and differences of the institution-based view in strategic management, comparing it with the industry-based and resource-based views. Analyze why the institution-based view is considered an essential third leg of the strategy tripod. Instructions: 1. Overview of Strategic Views: Briefly introduce the industry-based, resource-based, and institution-based views, highlighting their core focus in strategic management. Include an overview of how each perspective proposes different drivers of firm performance: external market forces (industry-based view), internal resources and capabilities (resource-based view), and the broader institutional context (institution-based view). 2. The Institution-Based View as a Strategy Pillar: Explain why the institution-based view has emerged as a critical third leg of the strategy tripod. Discuss its significance in addressing gaps left by the other two views and its importance in today's global business environment. Response Format: Prepare brief essay that addresses the above points.