Exploitation, Exploration and Firm Performance--论文代写范文

一些学者定义公司利用其资产的能力,他们宣称可以给予公司竞争优势。公司积累的资源随着时间的推移和决策,倾向于将自己局限于技术领域，导致失去灵活的应对。下面的essay代写范文进行论述。

Introduction
  The resource-based view of firms assumes that a firm achieves a competitive advantage not only because it owns proprietary assets, but also because it possesses a superior ability to make good use of those assets (Penrose, 1959; Wernerfelt, 1984; Peteraf, 1993; Conner, 1991; Barney, 1991). Dierickx and Cool (1989) suggest that resources should be differentiated as either asset flows or asset stocks, and that “strategic asset stocks are accumulated by choosing appropriate time paths of flows over a periods of time” (Dierickx & Cool, 1989:1506). Feedback effects, which amplify the heterogeneity among organizations (Levinthal & Myatt, 1994), have similar implications. 

 Relationship between Exploitation and Performance
  The notion underlying the concept of feedback effects is that in a stable market, the more resources a firm possesses, the more likely it is to be able to acquire and accumulate greater knowledge than its rivals, and at a faster rate. Feedback effects have naturally self-reinforcing characteristics, in that a firm can acquire more resources if it has a large pool of resources to begin with. Some scholars define a firm’s ability to utilize its assets and resources as capabilities (Amit & Shoemaker, 1993; Grant, 1996; Penrose, 1959), which they claim can give the firm a competitive advantage. Teece et al. (1997) have suggested that a firm’s technological assets will evolve in a path-dependent manner. Path dependence describes the situation in which a firm builds on what it already knows, and what it chooses to do or know in the future depends on what it chose to do or know in the past (Langlois, 1995). 

  A firm accumulates its resources as the result of path-dependent processes of investment, learning, and decision-making that it adopts over time (Dierickx & Cool, 1989). For example, a firm’s research and development (R&D) activity is closely related to its previous R&D activity (Nelson & Winter, 1982; Helfat, 1997). As a result, firms tend to confine themselves to a limited set of technological domains and lose flexibility in their response to environmental change (Levitt & March, 1988; Tushman & Anderson, 1986). 

  In a similar vein, Cohen and Levinthal (1990) suggest that a firm’s existing knowledge base (or previous related knowledge) plays a key role in its innovative activities. Such a knowledge base is referred to as absorptive capacity, which is defined as “the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends” (Cohen & Levinthal, 1990:128). Absorptive capacity means that a firm’s competence in the future depends on its existing level of technological assets and knowledge, and that therefore a firm’s capabilities simultaneously enhance and inhibit technological innovation (Leonard-Barton, 1992). 

  Studying market entry strategies in the medical equipment industry in the U.S., Mitchell (1989) observes that the level of a firm’s industry-specific capabilities is significantly associated with the likelihood that the firm will be able to effectively utilize its existing resources and exploit new technology within that industry. Similarly, Henderson and Cockburn (1994) find that a firm’s previous or cumulative success increases the likelihood of its future success, and explains a substantial portion of the variance in heterogeneity across firms. Exploitation tends to enhance operational efficiency. 

 Relationship between Exploration and Performance 
  In a rapidly changing environment, a firm should develop new technologies and change its resource structure to adapt to new environmental opportunities (Karim & Mitchell, 2000), because existing organizational practices and routines may reduce a firm’s flexibility to adapt to new changes (Levitt & March, 1988). The term “dynamic capability” is defined as “the firm’s processes that use resources – especially the processes to integrate, reconfigure, gain and release resources – to match and even create market change” (Eisenhardt & Martin, 2000:1107). This perspective emphasizes the importance of the reconfiguration of firm competence in the creation of competitive advantage (Teece et al., 1997; Eisenhardt & Martin, 2000; Henderson & Cockburn, 1994). 

  Dynamic capability is the natural process with which a firm creates a preferable circular system or routine, not only through the deployment of capabilities in attractive product markets in which such resources would be most effectively utilized, but also through the integration of various types of resources within or between organizations (Teece et al., 1997). The concept of dynamic capability is akin to the concept of combinative capability, which is defined as the ability to synthesize and apply current and acquired knowledge (Kogut & Zander, 1992), and the concept of architectural competence, which is defined as the ability to access new knowledge from outside the boundaries of an organization and to integrate knowledge flexibly across disciplinary and therapeutic class boundaries within an organization (Henderson & Cockburn, 1994). In an innovative firm, procurement, production, marketing, and organizational structures and control systems are built to support and complement R&D activities (Nelson, 1991; Teece, 1986). 

  The resource-based view of firms typically recognizes resources and capabilities as independent sources of competitive advantage, and tends to ignore the way in which resources are reconfigured with one another and how the nature of the relationships between them influence a firm’s sustainable competitive advantage (Black & Boal, 1994). Henderson and Cockburn (1994) study the sources of competitive advantage in the pharmaceutical industry. They differentiate component competence, which involves local activities and the knowledge that is required to solve day-to-day problems, from architectural competence, which involves a firm’s ability to use component competencies, integrate them effectively, and develop new competencies. They find that architectural competencies appear to explain a significant portion of the variance in research productivity across firms.

 Relationship between Exploitation and Exploration 
  Dynamic capabilities are the natural processes through which a firm creates a preferable circular system or routine with which it can identify valuable resources, deploy them to attractive product markets in which such resources would be most effectively utilized, and create new distinctive competencies or integrate internal and external resources (Teece et al., 1997; Winter, 1995). New distinctive resources and capabilities are repeatedly accumulated within firms through identification, exploitation, and exploration activities. Firms usually accumulate and upgrade their distinctive resources and capabilities through the exploitation process, which in turn enhances its innovative activities and investments. Dierickx and Cool (1989) stress that the amount and level of a firm’s resources and exploitation capabilities are the primary determinants of exploration capacity. （essay代写)

  In prevailing theories of organizational learning, exploitation and exploration are assumed to be very distinct activities, and thus it is not possible for a firm to enhance both at the same time (March, 1991; Crossan, Lane, & White, 1999). However, recent research has suggested that exploitation and exploration are not separate, mutually independent activities, and that organizations sequentially go through the periods of exploitation and exploration (Weick & Westley 1996). Studying the product development process in a leading Scandinavian software producer, Holmqvist (2004) reports that exploitation can be caused by exploration, and vice versa. Holmqvist stresses that exploitation and exploration occur both within and between organizations, and that they are interdependent because of intra- and inter-organizational learning processes.（essay代写)

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