The Evolution of a Competence’s Market Specificity and the Emergence of Advantage during a Technological Disruption
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چکیده
I present an exploratory study to investigate the evolutionary path of a competence (rDNA/fermentation technology) during a technological discontinuity, and its impact on the performance heterogeneity across incumbents and both diversifying and de novo entrants. I find that this competence evolved with increasing market specificity, impacting later performance heterogeneity. Diversifying entrants outperformed incumbents only in the variant of the new technology that required rDNA/fermentation technology, supporting the theoretical conclusion that incumbents do not necessarily fail to successfully execute R&D for all radically new technologies, but only for those in which they cannot foresee the applicability to their own markets.
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INDUSTRY STUDIES ASSOCATION WORKING PAPER SERIES The Evolution of a Competence’s Market Specificity And The Emergence of Advantage during a Technological Disruption
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