Analysis of external environment. Competitive dynamics - nadkarni chen chen 2016
21 important questions on Analysis of external environment. Competitive dynamics - nadkarni chen chen 2016
What does the interplay between executive temporal depth and industry velocity affect in firms?
- Competitive aggressiveness: Firm's tendency to challenge rivals
- Firm performance: Success in market position
- Differentiated effects in low- and high-velocity industries
- Stronger benefits of competitive aggressiveness in high-velocity contexts
What are the dimensions included in executive temporal depth?
- Past Temporal Depth (PTD): Time executives look back to consider past events.
- Future Temporal Depth (FTD): Time executives project into the future for potential developments.
What are the pros and cons of a long Past Temporal Depth (PTD)?
- A long PTD helps managers better understand the past and apply relevant lessons to solve current problems more quickly.
- Cumulative experience from repeated past actions deepens understanding of technology and markets, reducing mistakes when launching initiatives like new products.
- A long PTD may cause managers to focus too much on outdated information, ignoring current realities. This can lead to errors and wasted effort in re-evaluating strategies.
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What advantages and disadvantages does Future Temporal Depth (FTD) have?
- A long FTD enhances pattern recognition, enabling managers to anticipate long-term opportunities and threats that short-term thinkers may miss.
- Focusing on the long run improves competitiveness, as it promotes foresight and allows careful preparation for future developments.
- A long FTD can cause overcommitment to long-term goals, making managers slow or unwilling to adapt to urgent short-term changes. This rigidity can lead to inertia and missed opportunities.
How does industry velocity moderate the relationship between PTD and competitive aggressiveness?
- Positive relationship in low-velocity industries: Longer PTD increases awareness of hidden threats
- Negative relationship in high-velocity industries: PTD limits awareness of short-term competitive changes
- Highlights importance of matching temporal depth with industry speed
How does Future Temporal Depth (FTD) affect competitive aggressiveness in different industry velocities?
- Linear positive in low-velocity industries: Promotes awareness and competitive action
- Inverted U-shaped in high-velocity industries: Benefits up to certain levels, but too long negatively affects short-term responsiveness
What was the main finding regarding competitive aggressiveness and firm performance?
- Competitive aggressiveness relates positively to firm performance
- Effect is stronger in high-velocity industries
- Underlines critical nature of fast actions for success in rapidly changing environments
What limitations were noted in the study's findings?
- Findings derived from single business firms may not apply to diversified firms
- The five-year timeframe may limit generalizability to different competitive contexts
- Unique nature of competitive interactions during that period
What main aspect does the paper by NADKARNI, CHEN, and CHEN (2016) examine?
- Different patterns in low vs. high-velocity industries
- Positive impact of competitive aggressiveness on firm performance
- Stronger effect in high-velocity environments
How is executive temporal depth defined in the study?
- Short time horizons for flexibility and quick adaptation
- Long time horizons for managerial foresight
- Implications of temporal myopia and economic short-termism
What is industry velocity and why is it significant?
- Competitive actions and timely responses
- The creation and destruction of competitive advantages
- Setting the competitive clock for firms
What is competitive aggressiveness in the context of this paper?
- Engaging in proactive competitive strategies
- Responding to rivals’ actions
- Proactively exploiting new opportunities
How does executive temporal depth relate to competitive aggressiveness in low-velocity industries?
- Broad historical patterns are visible
- Increased awareness of rivals' hidden threats
- Enables rapid solutions to current competitive issues
What impact does future temporal depth (FTD) have in low-velocity industries?
- Promoting pattern recognition for long-term changes
- Carefully preparing for future developments
- Enhancing responsiveness to emerging opportunities
What is the negative effect of a long past temporal depth (PTD)?
- Filtering out critical current context aspects
- Focusing on outdated information
- Leading to errors or backtracking in strategic evaluations
Describe the pros and cons of future temporal depth (FTD).
- Improved pattern recognition for long-term shifts
- Enhanced competitiveness through foresight
- Overcommitment to long-term goals
- Inability to adjust to short-term changes
What hypotheses are proposed regarding industry velocity and executive temporal depth?
- Industry velocity moderates the PTD and competitive aggressiveness relationship
- FTD's relationship with competitive aggressiveness is linear in low-velocity
- Industry velocity moderates the effect of competitive aggressiveness on firm performance
What were the findings related to competitive aggressiveness and firm performance?
- Competitive aggressiveness positively correlates with firm performance
- This correlation is stronger in high-velocity industries
- Interaction between industry velocity and aggressiveness positively affects performance
What role does temporal filtering play according to the paper?
- Executive awareness of the competitive landscape
- Consideration of competitive alternatives
- Shapes the competitive behaviors of firms
How does industry velocity influence competitive advantage?
- In high-velocity contexts, advantage is temporary
- Competitive actions rapidly become obsolete
- Competitive aggressiveness is critical for survival in these environments
What is the significance of the match between executive temporal depth and industry velocity in firms?
1) Competitive behaviors.
2) Firm performance.
Conversely, a mismatch may lead to poor performance and a decrease in competitive aggressiveness due to inadequate response to the market dynamics.
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