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Case from journal
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Reference no. JSME1-1LA2
Authors: Daniel F Spulber
Published by: Senate Hall Academic Publishing
Published in: "Journal of Strategic Management Education", 2003

Abstract

Competition is a dynamic process, with market structures shaped by the entry and exit of firms. The process of entry is costly, as companies incur substantial costs of learning about the market, researching products and production processes, establishing facilities, contacting suppliers, and raising finance capital. Companies entering the market devise strategies to compete with established companies. Companies already established in the industry in turn devise strategies in anticipation of entry. Established firms and entrants alike match their organisational abilities to market opportunities as they try to achieve competitive advantage. This lecture article/chapter has been peer reviewed by the editorial board of the Journal of Strategic Management Education (JSME).

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Abstract

Competition is a dynamic process, with market structures shaped by the entry and exit of firms. The process of entry is costly, as companies incur substantial costs of learning about the market, researching products and production processes, establishing facilities, contacting suppliers, and raising finance capital. Companies entering the market devise strategies to compete with established companies. Companies already established in the industry in turn devise strategies in anticipation of entry. Established firms and entrants alike match their organisational abilities to market opportunities as they try to achieve competitive advantage. This lecture article/chapter has been peer reviewed by the editorial board of the Journal of Strategic Management Education (JSME).

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