Our current views of economic competition are still rooted in the imagery of the isolated firm that transacts with its buyers, suppliers, and competitors via largely anonymous factor and product markets. Yet this view is fundamentally at odds with the growing importance of business groups in the...

Long view organizations have a technical core combining high levels of Woodwardian (1958) technological complexity and Thompsonian (1967) technological intensity. This significantly diminishes their capacity for operational flexibility and strategic adaptation. Little is known about how such...