MakingSenseofIrrationalDecisions课件.pptVIP

5/7/2005 Making Sense of Irrational Decisions Tyler Chamberlin ESRC Centre for Research on Innovation and Competition University of Manchester, and School of Management, University of Ottawa Outline Market Innovations Convergence of Telecom and Data Networking Firms Critique of Carpenter, Lazonick and O’Sullivan (2003) Lunch! Background Creative Destruction in Technologically-Intensive and Dynamic Industries: Competition, Market Innovations and Corporate Strategy Methodology Three case studies of acquisitions between 1998 and 2000 30 interviews and analysis of publicly available information (annual reports, company information, secondary information) Starting Point Over any significant period of time, the composition of leading firms in the economy changes Creative Destruction Usually described in terms of a process of market entry and exit…but does this have to be? Creative Destruction For firms, creative destruction implies a limited lifespan For the economy, creative destruction involves costs of adjustment (economic and social) Question: Could we have the benefits of creative destruction without all the costs of market exit? Market Innovations Schumpeter’s definition is almost only considered with respect to product or process innovations, but there are also organizational innovations, materiale innovations and market innovations Schumpeter’s definition of market innovations tended to imply a geographic orientation to the definition of markets, whereas, organizational innovations implied a re-organization of industry Product Differentiation Market Innovations Incremental market innovations involve adapting an existing product to serve a new set of customers Radical market innovations involve the development of an entirely new strategic orientation for the firm, a redefinition of what the firm is fundamentally all about The Convergence of ICT Telecommunications and Data Networking firms, in the early to mid-1990’s were distinct and separate industries, however