How a Little ‘Friction’ Can Change a Competitive Landscape
When developing business strategies, it is wise to think about “frictions,” the forces that make it difficult for buyers and sellers to connect. Those elements — location, convenience or lack of information — help explain how different firms, such as a small local retailer and a national store, can coexist in the marketplace, according to research by Wharton management professor Olivier Chatain and an INSEAD … [ Read more ]
Content: Article | Authors: Olivier Chatain, Peter Zemsky | Source: Knowledge@Wharton | Subject: Strategy
The Real World of Real Options
To what extent do firms pursue strategies of flexibility in response to uncertainty – to what extent do they use ‘real options’? Goncalo Pacheco-de-Almeida and Professor Peter Zemsky explain how resource accumulation affects whether a firm will jump into an investment from the get-go, or if it will take the option to wait for investment. They present research in a realistic light, offering a theory … [ Read more ]
Content: Article | Authors: Goncalo Pacheco-de-Almeida, Peter Zemsky | Source: INSEAD Knowledge | Subjects: Finance, Management
Drawing the Line or Making Waves: Disruptive Technology & Competition
If someone asked you to take a look at the level of competition in the technology market, you would normally begin by grouping obvious competitors and customers. But you might get a more accurate answer if you started the other way around – first considering the factors of the competition which subsequently indicate rival market boundaries. INSEAD professors Ron Adner and Peter Zemsky propose a … [ Read more ]
Content: Article | Authors: Peter Zemsky, Ron Adner | Source: INSEAD Knowledge | Subjects: IT / Technology / E-Business, Strategy
Getting Along: The Factors of Social Capital
Economics predict that people will act selfishly, yet experiments and real-life experience show that altruism and cooperation towards a public good are always possible. Professors Rafael Rob and Peter Zemsky study how social capital (the cooperativeness of the workforce) can be increased by balancing incentives with the experience of prior cooperation in the workforce.
Content: Article | Authors: Peter Zemsky, Rafael Rob | Source: INSEAD Knowledge | Subjects: Management, Organizational Behavior