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Books > History > History of specific subjects > Economic history
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Knowledge and Competitive Advantage - The Coevolution of Firms, Technology, and National Institutions (Paperback, New)
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Knowledge and Competitive Advantage - The Coevolution of Firms, Technology, and National Institutions (Paperback, New)
Series: Cambridge Studies in the Emergence of Global Enterprise
Expected to ship within 12 - 17 working days
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Entrepreneurs, managers, and policy makers must make decisions
about a future that is inherently uncertain. Since the only
rational guide for the future is the past, analysis of previous
episodes in industrial development can shape informed decisions
about what the future will hold. Historical scholarship that seeks
to uncover systematically the causal processes transforming
industries is thus of vital importance to the executives and
managers shaping business policy today. With this in mind, Johann
Peter Murmann compares the development of the synthetic dye
industry in Great Britain, Germany, and the United States through
the lenses of evolutionary theory. The rise of this industry
constitutes an important chapter in business, economic, and
technological history because synthetic dyes, invented in 1856,
were the first scientific discovery quickly to give rise to a new
industry. Just as with contemporary high tech industries, the
synthetic dye business faced considerable uncertainty that led to
many surprises for the agents involved. After the discovery of
synthetic dyes, British firms led the industry for the first eight
years, but German firms came to dominate the industry for decades;
American firms, in contrast, played only a minor role in this
important development. Murmann identifies differences in
educational institutions and patent laws as the key reasons for
German leadership in the industry. Successful firms developed
strong ties to the centers of organic chemistry knowledge. As
Murmann demonstrates, a complex coevolutionary process linking
firms, technology, and national institutions resulted in very
different degrees of industrial success among the dye firms in the
threecountries.
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