Although
the management of the industries received
increased scholarly attention, the majority of
the writing has been anecdotal in nature.
Few scholars have vigorously examined
the issue either empirically or theoretically. To ground the argument and findings in the
literature, the following section of the paper
defines the concept of environmental adversity,
the Porterûs competitive strategy model, and
firm performance. This review builds on prior
research conducted in entrepreneurship,
strategic management, and organizational
theory. The paper then presents an empirical
study that examines the fit between environmental
adversity and competitive strategy on firm
performance. The final section of the paper
summarizes the findings and discusses their
implications for new venture managers and
future research.
Althoughthe management of the industries receivedincreased scholarly attention, the majority ofthe writing has been anecdotal in nature.Few scholars have vigorously examinedthe issue either empirically or theoretically. To ground the argument and findings in theliterature, the following section of the paperdefines the concept of environmental adversity,the Porterûs competitive strategy model, andfirm performance. This review builds on priorresearch conducted in entrepreneurship,strategic management, and organizationaltheory. The paper then presents an empiricalstudy that examines the fit between environmentaladversity and competitive strategy on firmperformance. The final section of the papersummarizes the findings and discusses theirimplications for new venture managers andfuture research.
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