Purpose Using general systems theory, we present a series of simulations that shed light on the viability of business strategies in stable and turbulent business environments. Special attention is given to the impact of efficiency versus flexibility on firm performance, and on what the...

The measurement of corporate performance is central to strategic management research. A common objective of this research is to identify top performers in an industry and their sources of competitive advantage. Despite this focus on best firms and practices, most researchers utilize statistical...