Скачать или смотреть Industrial Organization (IO) Theory

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According to IO theory, industry forces in which a firm operates are very important for the firm to maintain profitability. The industry attractiveness depends on the strength of the five forces: competition of firms within the industry, bargaining power of buyers, bargaining power of suppliers, threat of new entrants, and availability of substitute products. The stronger the forces, the more unattractive the industry becomes. Analysis of these five forces is the key for a firm to see whether it can have an edge over its competitors. IO theory places a premium on the environment and is explicitly concerned with the opportunities and threats stemming from the environment. Researchers who subscribe to the IO theory argue that a firm should scan the external environment and focus on identifying and exploiting opportunities and neutralizing threats. However, it is necessary to match the firm's internal capabilities to exploit opportunities and strengths, in order to mitigate the threats from environment. Strategic management researchers attempt to address the performance differences across firms in terms of two basic approaches: IO and resources. As Montgomery contends, a portion of these differences may be "due to unique firm characteristics and actions; and another portion is due to the conditions in their respective industries in which firms operate."5 Scholars argue that industry effects explain far more variance than firm effects. The debate is ongoing. ...