8. Conclusions
In a highly volatile and competitive market environment, speed of action is essential to gain competitive advantage. In this study of competitive dynamics, we have advanced three arguments regarding speed in the emerging economy competition. First, we propose to differentiate strategic actions into growth and joint actions to account for the distinct ways in which emerging economy firms engage in competition. Second, the present study broadens the range of capabilities that enable firms to speedily take strategic actions, including in particular leader strategic competences. Third, the present study suggests (and shows empirically) that different competitive challenges and resource endowments trigger different types of strategic actions. These extensions make the competitive dynamics framework more relevant to emerging economies, such as China.