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1、MarketConvergence&FirmStrategies:TowardsasystematicanalysisJohannesM.PenningsProfessor,ManagementDepartment,WhartonPennings@wharton.upenn.eduPhanishPuranamDoctoralCandidate,ManagementDepartment,Whartonpuranam@management.wharton.upenn.eduTheWhartonSchooloftheUniversityofPe
2、nnsylvania2000Steinberg-DietrichHallPhiladelphia,PA19104-6207Phone:215-898-7755or898-1228,fax:215-898-0401January/February,2000Keywords:convergence,digitalimaging,networkmethodsPaperpresentedattheOrganizationScienceWinterConferenceKeystone,COMarketConvergence&FirmStrategi
3、es:TowardsasystematicanalysisAbstractThispaperseekstoexplorethephenomenonofmarketconvergence-aprocessbywhichmarketsbecomeincreasinglysimilarovertime.Theimpactofthisprocessistoerodemarketboundaries,andcreatestrategicchallengesforfirmsbycausingthemtofaceuptonewsetsoftechnol
4、ogies,needsandcustomers.Inthisresearchwetrytodevelopaframeworktounderstandthedriversofconvergenceandtherolethatfirmstrategiesplayinconvergenceprocesses.Firmsarepronetofallintoacompetencytrapastheyaccumulateintangibleassets,whichhaveconferredacompetitiveadvantage.Somestrat
5、egiesforlearningwillaggravatetheconsequencesofpathdependence,whileothermightdiminishorevensuspendthatdependence.Wereviewacquisitionsandstrategicalliances,whichdifferintheirirreversibility,flexibilityandlevelofcommitmenttonewandremotetechnologiesandcustomers.Wealsoreviewdr
6、iversofconvergenceandincludeswifttriggerssuchasderegulationanddelayedonessuchassocio-economicdevelopmentsandtechnologicalbreakthroughs.Tocomplementourtheorybuilding,wepresentpreliminaryresultsfromtheanalysisofaparticularindustry-digitalimaging,whichisbeingcreatedoutofthec
7、onvergenceofphotography,computerhardware&softwareandelectronics,inanattempttoshowhowtheconvergencephenomenonmaybemeasuredandinvestigatedusingnetworkmethodologies.Weexplorethegrowingcentralityanddensityinanetworkoffour-digitSICindustriesinordertoisolatethespeed,andprogress
8、ionoftechnologicalconvergence.MarketConvergence&FirmStrategies:TowardsasystematicanalysisIntrodu