This paper uses the Rubin Causal Model to formalize the treatment effects of a firm choice on its performance. Building from Porter, a firm choice can shape profitability through both strategy and operational effectiveness, but they are distinct in how they do so. The strategic treatment effect...

We propose an approach to measure strategy using text-based machine learning. The key insight is that distance in the statements made by companies can be partially indicative of their strategic positioning with respect to each other. We formalize this insight by proposing a new measure of...

Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. While entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the...

This paper develops an integrated framework linking the nature of the entrepreneurial choice process to the foundations of entrepreneurial strategy. Because entrepreneurs face many alternatives that cannot be pursued at once, entrepreneurs must adopt (implicitly or explicitly) a process for...

Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. While entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the...

A central premise of research in the strategic management of innovation is that start-ups are able to leverage emerging technological trajectories as a source of competitive advantage. But, if the potential for a technology is given by the fundamental character of a given technological...

Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. While entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the...