Abstract
In industries that display cyclical industrial dynamics, such as the Semiconductor industry and Flat Panel Display industry, firms are forced to strategize around upturns and downturns. Some firms such as Intel and Texas Instruments have learnt how to seize advantages from such fluctuations, to launch new business ventures and products or to restructure their operations during downturns. In the Flat Panel Display industry, firms seeking to enter the industry have learnt to time their entry to coincide with downturns. Such counter-cyclical investment strategies are lending firms that master them significant advantages. This article builds on a dynamic approach to strategy to capture the principal features of strategizing during upturns and downturns, and in particular demonstrates the rewards flowing to firms that engage in counter-cyclical investment strategies.
| Original language | English |
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| Title of host publication | DRUID 25th Celebration Conference 2008 on Entrepreneurship and Innovation |
| Subtitle of host publication | organizations, institutions, systems and regions : June18-20, 2008 : proceedings |
| Place of Publication | Copenhagen |
| Publisher | Danish Research Unit for Industrial Dynamics |
| Pages | 1-31 |
| Number of pages | 31 |
| Publication status | Published - 2008 |
| Event | DRUID Celebration Conference (25th : 2008) - Copenhagen Duration: 18 Jun 2008 → 20 Jun 2008 |
Conference
| Conference | DRUID Celebration Conference (25th : 2008) |
|---|---|
| City | Copenhagen |
| Period | 18/06/08 → 20/06/08 |
Keywords
- industry cycle
- business cycle
- industrial dynamics
- pro-cyclical investment
- counter-cyclical investment
- entry strategy