Scholars have documented the importance of national-level factors for the competitive success of firms on a global scale. These studies typically identify multiple factors that are behind the emergence of large and successful firms in particular national clusters. However, there has been...

This article introduces a new metaphor for strategic management, namely, that of the strategy river. In comparison with the frequently used concept of path-dependency, the strategy river emphasizes time and timing, co-evolutionary interplay between strategies and institutional environments,...

The purpose of this paper is to study the role of individual agency in the process of institutional change. We conducted a historical study to explore the motivations and activities of two prominent individuals in business and politics before, during, and after the Finnish Civil War. Our most...

We study the path dependence of technological systems and power relations inside companies. While the existing literature suggests power relations and technology to be path dependent and influenced by each other, interactions across these evolutionary processes remain poorly understood. We...

In this study, we analyze the Finnish retail industry in 1945--1995. Triangulating the major developments in society, technology, and firm-level strategic choices, we identified extensive variation in the sources of competitive advantage over time. We found that the structural and...