Persistent Heterogeneity and Sustainable Innovation  

Oleh:

Knott, Anne Marie

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 24 no. 8 (2003), page 687-706.
Topik: innovation; persistent heterogeneity; innovation; concentration

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.12 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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One of the concerns with strategy as a field is that its global (durable profits) appears at odds with that of microeconomics (homogeneous firms with zero profits). Thus even if we can find sources of durable profits, maybe we shouldn't because doing so comes at the expense of social welfare. In this sense, strategy os an "economic bad". Probably the most vivid evidence of this tension is the fact that porter's competitive strategy (1982) is industrial organization turned on its head - exploiting indications of anti - competitive behaviours to create prescriptions for durable profits. This study presents a parallax view in which the field of strategy is an economic good. In this view, heterogeneity stimulats innovation and economic growth. The underlying logic is that heterogeneity stimulates innovation and economic growth. The underlying logic is that heterogeneity stimulates innovation and economic growth. The underlying logic is that heterogeneity fuels diffusion : diffusion erodes leaders' shares : view through a simple model of firms embedded in an industry, and then evaluate the model via stimulation. The key issue for the model is whether there are steady states that sustain heterogeneity and innovation. Results indicate that heterogeneity persists in roughly half the industry conditions i examined. Furthermore innovation and growth are sustained under those industry conditions. What is comforting about the set of conditions is that they accomodate (and indeed require) all the things we hold dear industrial policy, and strategic as well as routine behaviour by firms. The new insights are as follows : 1. heterogeneity fuels growth (thus strategy is an economic good, rather than anathema to allocative efficiency) 2. persistent heterogeneity is feasible even in this presence of spillovers (without isolating mechanisms) 3. but this heterrogeneity (while persistent) requires managers to actively preserve the inherent value of their resource avantages , firms can't rest on their laurels 4. policy prescriptions differ from those of prior innovation models.

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