The cutting operation in the high fashion clothing industry essentially involves putting several layers of cloth on a long cutting table and fixing templates of the parts of several articles on top of the stack before the actual cutting can be initiated. This is a very time-consuming task giving...

Managerial flexibility can have a significant impact on the value of new product development projects. We investigate how the market environment in which a firm operates influences the value and use of development flexibility. We characterize the market environment according to two dimensions,...