This study theorizes about the behavioral and knowledge creation implications of betting on the losing technology in a competing technology situation and focuses on three main outcomes. First, in a situation with competing technological options, firms that invest initially in the losing...

This study explores the contingencies relating firm experience to product development capabilities, focusing on experience type (breadth v. depth) and timing (prior v. concurrent). Results from empirical tests in the U.S. mutual fund industry offer two primary findings. First, firms increase...

Research on managerial cognition and on organizational capabilities has essentially developed in two parallel tracks. We know much from the resource-based view about the relationship between capabilities and organizational performance. Separately, managerial cognition scholars have shown how...

Entering a new product market requires assembling a bundle of technological and market resources. Because missing a single resource may foil the entire entry effort, we argue that bottleneck resources – those most difficult to obtain or sell externally – anchor the direction of firm growth....

This study explores the determinants of organizational aspirations, proposing that aspirations play dual roles that create important tension for managers. On one hand, aspirations serve an evaluative role as a benchmark for assessing performance. On the other, they have an allocative role in...

When is failure good or bad for the organization’s subsequent performance? Prior research has been split on this issue, with some suggesting that failures spur the firm to beneficial action and provides knowledge that informs future success, but others suggesting that failures discourage...