Evolution of Fit: The Voyage of Vanguard
نویسنده
چکیده
While firms have frequently been conceptualized as configurations of choices, the evolution of configurations has not received much attention. We start to develop a typology of evolutionary patterns by describing two developmental paths. Patch-by-patch development is characterized by managers’ sequential creation and elaboration of strategic themes, whereas thin-to-thick development consists of an early formulation of strategic themes and subsequent elaboration with supporting choices. A longitudinal study of The Vanguard Group illustrates a proposed approach to identifying the developmental pattern of a particular firm. Moreover, the study yields hypotheses concerning the relationship between the patterns and drivers of a firm’s development.
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