Global supply chains (GSCs) are confronted with the phenomenon of hyper-competition. For this reason there seems to be an increasing necessity for GSCs to build up competitive advantage in order to survive. Strategic flexibility is assumed to have positive effects on generating required...

Firms might not launch a next generation product as soon as a more efficient technology or a better product design is ready. We use a stylized model to analyze firms' product launch and upgrade decisions in an incumbent-vs-entrant setting. We find that large profit margins from the next...