文档介绍：Strategic Factor Markets: Expectations, Luck, and Business Strategy Jay B. Barney
Main content
Introduction
Competitive imperfections in Strategic Factor Markets
Developing insights into strategic value
Summary and implications
Introduction
The
Competitive
Characteristics
0f markets
Strategic
Factor
Markets
The cost
Of
resources
The size of
returns
Strategic Factor Markets
Competitive imperfections in Strategic Factor Markets
petition
Strategizers &controller
Their expectation is the same, and perfectly accurate.
The price of the resources equal their value.
This is a conclusion of normal returns with all perfect information models petition where petitive uncertainty exists.
All pure profits will be anticipated and gained.
Expectation in strategic factor markets
monly different firms will have different expectations.
Two possibilities of the return potential for a firm with accurate expectations
其他公司的表现
这个公司的结果
原因
高估
避免损失
准确的预期
低估
获得高于平均的利润
Firms without the superior insight can still obtain above normal returns when they underestimate this return,which is a manifestation of good luck.
Even well-informed firms can be luck.
Competitive imperfections in Strategic Factor Markets
Other petitive imperfections
Lack of separation
Uniqueness
Lack of entry
Profit maximizing
Financial strength
Lack of understanding
Accurate
expectation
Good
lu