Transmutation Learning of Organization in Hypercompetition Environment
|關鍵字:||超級競爭;暫時性競爭優勢;隨機漫步;組織學習;Hypercompetition;Temporary Advantage;Random Walk;Organizational Learning|
With the rapid emergence of new innovation of technology, change of consumer`s preferences, a dramatic change in industrial environment and impact of globalization, it is more difficult for a firm to consolidate the sustainable competitive advantages. Thus, it has led to the appearance of temporary competitive advantages. Nowadays, there are a number of theories that have been devised for this hottest strategic management issue concerning how to obtain and sustain competitive advantages and also various explanations on temporary competitive advantages were given by many scholars. Competitive Advantage theory suggests that a firm can benefit from analysis of industry structure to achieve sustainable competitive position. Resource-based theory puts forward the idea that the possession of particular strategic resources and capabilities enables a firm to generate sustained competitive advantages. Hypercompetition theory contends that in a dynamic competitive environment a firm can easily imitate opponent's position. It also contends that a firm should take a stream of actions to establish a series of temporary advantages and thereby obtain sustainable competitive advantages. Thereafter, dynamic capability theory which argues that a firm is required to coordinate the internal and external resources emerges. However, some scholars reckon that due to the existence of market equilibrium, no firm can exactly predict the market direction. The pattern of firm performance is a random walk, and thereby no firm possesses sustainable competitive advantages. They even emphasize that chance or luck also can bring about the superior performance. Does it mean that any strategy is useless if it is a result of chance or luck? Do sustainable competitive advantages exist? What causes firm performance heterogeneity? We reexamine these issues from organizational learning theory by using 20-year financial data. Our results indicate that the pattern of firm performance is not a random walk. Thus, a firm is able to achieve sustainable competitive advantages by managing well. We also describe the characteristic and competition-level of industry by distribution of transmutative learning ability of firm. We found that a firm in more innovative industry possesses higher transmutative learning ability, which implicates that a firm enables to execute an effective strategy by enhancing a firm transmutative learning ability. Besides, we prove that a firm can increase its probability of sustaining competitive advantages by enhancing its transmutative learning ability.