History
Chandler (2005) argues the relative success or failure of American and European chemical companies is explained with reference to three themes: "barriers to entry," "strategic boundaries," and "limits to growth." He says successful chemical firms followed definite "paths of learning" whereby first movers and close followers created entry barriers to would-be rivals by building "integrated learning bases" (or organizational capabilities) which enabled them to develop, produce, distribute, and sell in local and then worldwide markets. Also they followed a "virtuous strategy" of reinvestment of retained earnings and growth through diversification, particularly to utilize "dynamic" scale and scope economies relating to new learning in launching "next generation" products.
Read more about this topic: Chemical Companies
Famous quotes containing the word history:
“While the Republic has already acquired a history world-wide, America is still unsettled and unexplored. Like the English in New Holland, we live only on the shores of a continent even yet, and hardly know where the rivers come from which float our navy.”
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