We examine the role of incumbent firms in developing radical technologies, distinguishing between their motivation and ability to develop radical inventions. We argue that the motivation to pursue radical invention will be strongest when performance is moderately below aspiration, and will...

Research summary: We use a novel theoretical framework to synthesize ostensibly disparate streams of non-market strategy research. We argue that faced with weak institutions, firms can create and appropriate value by either adapting to, augmenting, or transforming the existing institutional...

Two of the founding pillars of corporate strategy research are Penrose’s (1959) development of the critical role of firm resources and their accumulation for the scope of the firm and Chandler’s (1962) examination of the relationship between a firm’s organizational structure and its scope...