HYBRID MODELING APPROACH TO COMPETITIVENESS THROUGH FAST STRATEGY

Samuli Kortelainen () and Lauri Lättilä ()
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Samuli Kortelainen: Department of Industrial Management, Lappeenranta University of Technology, P. O. Box 20, 53850 Lappeenranta, Finland
Lauri Lättilä: Department of Industrial Management, Lappeenranta University of Technology, P. O. Box 20, 53850 Lappeenranta, Finland

International Journal of Innovation and Technology Management (IJITM), 2013, vol. 10, issue 05, 1-27

Abstract: Understanding the sources of sustained competitive advantage is the fundamental task of strategic management research. An interesting concept of fast strategy has emerged, which builds a firm's competitiveness from its ability to react to change more rapidly than its competitors. We approach this concept with a simulation model based on a hybrid modeling technique. The simulation model is used to test the profitability of the fast strategy concept in different business environment conditions. The theoretical finding of our study supports the fast strategy concept and shows that there are some internal and external factors that control the value of agility. The methodological finding of this work is that the hybrid modeling technique offers an interesting platform for understanding the effects of environmental dynamics in strategic and technology management research.

Keywords: Strategic management; fast strategy; management of technology; agent-based modeling; system dynamics (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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DOI: 10.1142/S0219877013400166

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