In times of changing business environments, firms must constantly renew their competitive advantage by establishing dynamic capabilities. While often attempting to employ this in corporate venturing activities, they face the challenge of simultaneously exploring new and exploiting existing...

Research into how organizational capabilities develop has focused upon specific types of capability and particular processes for capability development. Yet, to develop and survive, an enterprise must put in place an integrated system of organizational capabilities deploying multiple development...

This research explores evidence of corporate capabilities for conducting acquisition and alliance deals in young firms. We hypothesize that investors conjecture about the future based on information about a firm's capabilities. Each successive deal carries intrinsic value, creates experience,...

This paper uses a cognitive theory of firms and organizations, with a focus on learning and innovation.Here, cognition is a wide notion, including value judgments and corresponding feelings and emotions.This paper focuses on the relation between that cognitive theory and Penrose's theory of the...

quot;Business developmentquot; (BD) is an often used, but not well defined, term in the business world. Taking a strategy-as-practice perspective as a background, we explore the daily activities of BD in the German biotechnology industry. We show how BD tasks are defined and how they are...

This paper investigates two important research gaps in international business (IB): how entrepreneurs evaluate international entrepreneurial opportunities (IEOs) and the role of time in the evaluation process. Drawing on the literature on decision-making models and the philosophical foundation...

This paper compares the clinical trial strategies and performance of large, established (quot;maturequot;) biopharmaceutical firms to those of smaller (quot;early stagequot;) firms that have not yet successfully developed a drug. We study a sample of 235 cancer drug candidates that entered...

Alliance formation is commonplace in many high-technology industries experiencing radical technological change, where established firms use alliances with new entrants to adapt to technological change, while new entrants benefit from the ability of established players to commercialize the new...

To analyze a widely observable phenomenon - Industry Transformation - adequately, the authors suggest an approach by paradigmatically compatible evolutionary theories on two interrelating levels: the market level (to be analyzed from a New Austrian Economics' perspective) and the firm level (to...

Chinese entrepreneurs innovatively manage organisations in the absence of strong economic institutions, under conditions of high environmental and technological uncertainty. This paper presents the findings of an empirical study designed to investigate how Chinese entrepreneurs can be successful...