The impact of technological change on market structure can be much more drastic than that of traditional sources of competition, such as price. However, the analysis of such change is derived from two discrete perspectives: economics and organizational behaviour. In this study, these two traditions are brought together. The authors present an economic analysis of technological change and market structure, and an organizational strategy towards technological change and corporate structure. In a radical departure from tradition, the connections between technological change and market structure cannot be properly understood without appreciating the role of firms' strategic visions. It also shows that direct measurement of the rate of technological change (as opposed to traditional, indirect measures like patent counts and R&D expenditure) is essential if changes in market structure are to be understood. Theoretical arguments are developed through case studies of some of the most innovative and fast moving industries in the world, including software, micro-processors and biotechnology.