Our second contribution is to use evolutionary theory to develop the theoretical roots of competitive dynamics as encouraged by Smith et al. (2001). By building on evolutionary theory, we conceptualize competitive moves as a search to solve problems. In particular, the evolutionary search lens provides an accurate portrait of the origins of competitive dynamics in fast-paced and unpredictable (new) markets and for diverse (R&D and market) competitive moves. Most importantly, we use evolutionary theory to combine the literatures on high-velocity, hyper-competitive environments with competitive dynamics and, thus, forge a richer theory of strategy when competitive advantage is temporary.
Finally, we contribute a new methodology to study competition. While past competitive dynamics research relies almost exclusively on archival data, we use a longitudinal experiential simulation. Like all research designs, this one has limitations. These limitations relate primarily to restrictions in the simulation (e.g., inability to make acquisitions [Puranam, Singh, and Zollo, 2006]). But this method also enables the capture of uniquely comprehensive information about moves and markets, controls for many extraneous factors and isolates the phenomena of interest. Thus, by using an experiential simulation coupled with fieldwork, we respond to a challenge by Smith et al. (2001: 46) to glean ‘primary data directly from managers who actually make decisions and implement competitive actions.’
Limitations and future work
Like all research, ours has limitations that open up opportunities for future work. First, we focus on two markets where competitive advantage is temporary, but we leave unexplored markets (including new ones) where advantages are more sustainable. Future research could explore the implications of such markets for the origins of moves. Second, since we focus on the origins of moves, we neglect implications for performance. For example, while we observe that low-performing firms engage in disruptive market moves in established markets, we do not examine whether this strategy is effective. Similarly, we leave open whether some originally low-performing firms (in the established market) can prosper by starting over in the new market. Indeed, studying interactions across the two markets is an intriguing path for future research. Third, since our additional analyses offer only a glimpse of performance threshold effects, more detailed analyses could examine these effects further. For example, we focus on the effects of failure (and success) relative to an industry reference point. So, further analysis including other reference points might be informative. Finally, since our study uses experiential simulation with fieldwork, future research could re-examine our predictions in an (albeit less-controlled) industry setting.
CONCLUSION
1.Top of page
2.Abstract
3.INTRODUCTION
4.THEORETICAL BACKGROUND
5.HYPOTHESES: ORIGINS OF COMPETITIVE MOVES
6.METHODS
7.RESULTS
8.DISCUSSION
9.CONCLUSION
10.Acknowledgements
11.APPENDIX
12.REFERENCES
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