「支配的な通念」による競争と企業間相違形成 : オンライン証券業界の事例
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概要
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In this paper, in order to answer the question: "In an industry where the imitation by other competitors is easy, how a differentiation between companies has been created and maintained?", we provide a new framework based on Dynamic Capability-Based View of the Firm and Action System Theory. One company's success always invites imitation by other companies, and competitive differences among companies tend to decrease over time (Williams, 1994). Especially in industries where there is severe competition, even core resources or competencies that are hard to imitate are likely to leak to other companies (Teece, Pisano and Shuen, 1997). The resulting minimization of differences between competitors works toward reducing a company's competitive advantage (Noda, 2001; Noda and Collis, 2001). In fact in the online securities industry, it is very easy to imitate another company's successful strategy, because the products and services of competing companies are shown on their web sites in real-time, and because many of the leading companies publicly disclose performance results. Nevertheless, Matsui Securities was successful in establishing a predominant position in the initial stages of the online securities industry. Therefore, the question arises as to why this was possible. According to the detailed case-based analysis, in the early stages of the online securities industry in Japan, the combined factors of expectation based on the precedent in United States, backed up by the IT Bubble economy together with "media hype," created a "dominant perception" that "the customer base of the industry would dramatically increase." Based on this presumption, companies other than Matsui Securities continued to participate in endless and morass price competitions. These companies had sufficient understanding of Matsui Securities' strategies, as well as Matsui Securities' performance. However, at least for two years, they underestimated Matsui Securities as "a niche company" and did not seek to follow Matsui Securities' strategies. For these reasons, Matsui Securities could enjoy overwhelming performance, and establish a solid position in the initial stages of the industry without being imitated by others.
- 日本経営学会の論文
- 2006-04-20