This chapter establishes the conceptual lenses used to interpret wine tourism as a strategic domain shaped inside wineries and mediated through place. It reviews four core approaches, resource-based view, dynamic capabilities, stakeholder theory, and institutional theory, to explain how wineries mobilize territorial assets, build adaptive routines, coordinate with regional actors, and respond to regulatory and legitimacy pressures as tourism markets evolve. The chapter shows how wine tourism can function as a mechanism for resource enrichment, capability development, governance alignment, and reputation formation, with special attention to experience design, sustainability expectations, and the organizational consequences of expanding visitor-facing activity. Moreover, it revisits the Old World–New World distinction as a heuristic rather than a stable classification, tracing how regulation, branding, innovation, and experiential professionalism have historically been contrasted, and then demonstrates how empirical work increasingly points to convergence and hybridization across regions. The chapter closes by integrating these perspectives into a unified analytical framework that guides the comparative chapters on Rioja and Mendoza, enabling interpretation of observed patterns through coherent strategic logics rather than descriptive comparison.