We survey the resource-based view in strategic management, focusing on its roots in economics. We organize our discussion in terms of the Gavetti and Levinthal distinction between a “high church” and a “low church” resource-based view, and argue that these hitherto rather separate...

In the resource-based view of strategy and in evolutionary economics, complementary assets play a crucial role in explaining sustainable competitive advantages and innovations. Despite the apparent importance of complementary assets for the understanding of corporate strategy, their creation and...

We address the contested state of theory and the mixed empirical evidence on the relationship between turbulence and vertical scope by studying how turbulence affects the benefits of commitment from integrated development of components and the benefits of flexibility from sourcing components...

One recurrent theme in the discussion about the salient features of the digital economy is the claim that industries like telecommunications, computing, and entertainment are converging. While the notion of industry convergence of industry convergence is often used to characterize industrial...

In this study, the authors unpack the micro-level processes of knowledge accumulation (experiential learning) and knowledge application (problem solving) to examine how task allocation structures influence organizational learning. The authors draw on untapped potential of the classical garbage...

How do organizations respond to negative feedback regarding their innovation activities? In this chapter, the authors reconcile contradictory predictions stemming from behavioral learning and from the escalation of commitment (EoC) perspectives regarding persistence under negative performance...

Balancing exploration and exploitation in organizational learning entails decisions about whether and where to search for new alternatives. We report the results from a laboratory experiment that sheds light on how individual decision-makers balance exploration and exploitation in search tasks....

Entrepreneurs in a competitive economy face three fundamental problems. They need to search for and discover a business opportunity (Kirzner, 1973), evaluate it (Knight, 1921), and then seize the opportunity to reap entrepreneurial profits (Schumpeter, 1911) (Langlois, 2007). The problem that we...