The dynamics of technology and strategy

This paper considers the evolution of strategies pursued by established and emerging firms as they attempt to commercialize radically new industrial technology. A general framework is proposed to relate strategic options and choices to the evolution of technologies, organizations and industry positions following a technological discontinuity. Empirical evidence from the emerging biotechnology field is presented to illustrate these patterns of evolution. The framework is then used to examine the roles played by strategic alliances in the evolving strategies of participants in biotechnology.