In the network strategy view, relative competitive advantage stems not merely from opportunity structures embedded in networks but also from the distribution of ability and motivation among firms. Thus, there is a need to “bring the firm back in” to the network strategy narrative. We...

We discuss recent developments in real options theory and its applications to strategic management research, examine the potential difficulties in implementing real options in theory and practice, and propose several areas for future research. Our review shows that real options theory has...