Asystematic understanding of industry dynamics is critical to strategy research because individual firm performance dynamics both reflect and affect change at the industry level. Descriptive research on industry dynamics has identified a dominant pattern where prices fall, output rises, and the...

Coordination of interdependencies among firms' productive activities has been advanced as a promising explanation for sustained heterogeneity in capabilities among firms. In this paper, we extend this line of research to determine the industry structures and patterns of expected firm profits for...