Reply to "Comments on 'Fortune Favors the Prepared Firm.'" (response to Prafulla Joglekar et al in this issue, p. 1455)
Article Abstract:
The criticisms of Joglekar, Bohl and Hamburg (1997)(JBH) of Cohen and Levinthal's (1994)(CL) paper 'Fortune Favors the Prepared Firm' focus on the elements of the model structure introduced by the latter and on the way in which they have modelled the updating process. With regard to JBH's disagreement with two main elements of CL's model structure, namely, the relevance of the monopoly analysis and the suitability of using an entry model for modeling competition, it is argued that the initial monopoly analysis facilitated a greater understanding of the path dependent nature of investment in technical capabilities. As for JBH's criticism of CL's modeling of the updating process, it is acknowledged that some notation could have been clearer. However, it is argued that this has no effect on the correctness of the analysis.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1997
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Strategy, strategy-making, and performance - an empirical investigation
Article Abstract:
The effect of the ties between strategic type and strategy-making mode on organizational performance is examined. Two top executives from each of 126 kibbutz-owned industrial operations characterized their organization's strategic type as Prospector, Defender, Reactor, or Analyzer. Strategy-making mode was characterized as Adaptive, Entrepreneurial, or Planning. The executives also classified their organizations by using descriptions of strategies. Results indicate that links between strategic types and strategy-making modes exist, and that some combinations are more likely than others to benefit organizational performance. Adoption of nonoptimal strategies results in lower performance levels.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1987
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Strategic implications of Darwinian economics for selling efficiency and choice of integrated or independent sales forces
Article Abstract:
Most managers faced with a tough strategic decision would want to know about prevailing industrial practices. This is based on the Darwinian economics rationale, which would suggest that competitive markets work to force at least a facsimile of optimal behavior, since the market mechanism will cut out inappropriate decisions. A model is presented which summarizes industry decisions, and two related propositions are developed. It is shown that the most efficient sales forces behave in accord with prevailing practices and the least efficient alter from this, but only in some environments. Conformity and efficiency are found to be unrelated in more certain environments.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1988
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