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This paper aims to explore the development of the US steel industry from the 19th to the 20th century by applying the Schumpeterian perspective on the concept of creative destruction. It introduces Game Theory as a means to describe patterns of strategic situations and entrepreneurial decision-making in an emerging industry.

Based on a narrative literature review of Schumpeter’s concept of creative destruction, four historical case studies have been designed. These historical case studies build the basis for game-theoretically analysis and evaluation. In doing so, the authors identify games with different payoff matrices that take place while an industry emerges, reflecting different layers of creative destruction.

Emerging industries, as this paper highlights, go through several stages of development until they reach full maturity. With Schumpeter, these stages can be studied through an entrepreneurial lens, highlighting different patterns of decision-making in each respective stage. This paper adds to a better understanding of emerging industries. Furthermore, this paper provides a methodological repertoire that can also be applied to other cases as well, such as the emergence of contemporary digital industries.

The paper provides a horizontal overview of how Game Theory can be applied to analyze industrial epochs and how the concept of creative destruction works in industry and transforms industry. It introduces Game Theory to management and business history as a sound methodological base to analyze and evaluate strategic situations and entrepreneurial decision-making.

The paper presents a comprehensive method to act in the different stages of an industrial epoch and how to act. The games applied in the particular layers of creative destruction give an insight into the analysis of strategic situations and strategic decision-making in the industry.

This paper provides a horizontal perspective on strategic games that can be used as an analysis methodology in the field of entrepreneurship and applied in contemporary industries. It connects historical cases out of the US steel industry with Schumpeter’s concept of creative destruction and Game Theory.

In light of the increasingly aging workforce, it is interesting from both a theoretical and practical perspective to investigate empirically the commonly held stereotype that older workers are more resistant to change (RTC). Thus, the main purpose of this paper is to investigate the age/RTC relationship, considering tenure and occupational status (blue/white collar employees) as additional boundary conditions. Furthermore, the paper investigates the relationship between RTC and individual performance, thereby introducing RTC as a mediator in the age/job performance relationship.

Study hypotheses are tested among a sample of 2,981 employees from diverse companies. Structural equation modeling with bootstrapping procedures is applied to investigate the moderated-indirect model.

Contrary to common stereotypes, employee age is negatively related to RTC. Tenure and occupational status are further identified as boundary conditions for this relationship. Moreover, RTC also shows an association with individual job performance, which allows for the establishment of an indirect-mediation mechanism from age to job performance via the intermediation of RTC. These results can be explained using current life span concepts, particularly the selective optimization with compensation (SOC) model.

Hypotheses were tested in a cross-sectional data set, which does not allow for conclusions of causality.

This study contributes to the age stereotyping literature that has thus far neglected the age/RTC relationship. Furthermore, the age/job performance literature is extended by introducing RTC as an important mediating factor. In sum, this study should help provide a more positive and more differentiated picture of older employees in the workplace.

Portfolios of temporary organisations, particularly portfolios of R&D projects with different project partners, are a common yet understudied phenomenon. We know that these portfolios suffer from tensions inherent in project portfolio ambidexterity (e.g. portfolios balancing R&D projects with new and recurrent partners), yet our understanding of what might lessen these tensions remains limited. This study introduces the idea of project portfolio maturity and theorises how it can mitigate the negative effects of ambidextrous project portfolios. We test our hypotheses by combining proprietary survey and archival data on 136 R&D project portfolios in the German biotechnology industry covering project partnerships with both new and recurrent partners. Our results show that ambidextrous project portfolios hamper firm performance and that portfolio maturity mitigates these negative effects. By introducing a new perspective on project portfolios that accounts for overlooked temporal dimensions, this study provides a new contingency that has the potential to ease the tensions that result from projects with new and recurrent partners. We thereby add to the literatures on temporary organising, project portfolios, and ambidexterity.

To maintain and enhance innovation performance, many firms nowadays look for resources from external sources such as strategic alliances and regional network embeddedness. While considering the important interdependencies among different alliances, research has established an alliance portfolio perspective. From an alliance portfolio perspective, firms can consciously configure the dimensions of their alliance portfolios such as partner characteristics, relational properties, or structural properties. However, within the context of alliance portfolio configuration, the role of regional networks has been largely overlooked. As most high-tech firms are regionally clustered, this is an important research gap. In addressing this gap, this study explores the link between regional network density, alliance portfolio configuration, and its contribution to firm innovation performance. We examine how regional network density and alliance partner diversity influences firm level innovation output. We also investigate the moderating effect of overall network partner status and partner diversity on the link between regional network density and innovation performance. Our empirical evidence is derived from a longitudinal quantitative study of 1,233 German biotechnology firms. We find that regional network density and alliance partner diversity has an inverted U-shape effect on firm level innovation performance. However, overall network status as well as alliance partner diversity negatively moderates the link between regional network density and innovation output. Thus, our study contributes to a better understanding of the link between regional networks, alliance portfolio configuration, and firm level innovation performance.

This study aims to assess the impact of location on capitalization rates and risk premia.

Using a transaction-based data series for the five largest office markets in Germany from 2005 to 2015, regression analysis is performed to account for a large set of asset-level drivers such as location, age and size and time-varying macro-level drivers.

Location is found to be a key determinant of cap rates and risk premia. CBD locations are found to attract lower cap rates and lower risk premia in three of the five largest markets in Germany. Interestingly, this effect is not found in the non-CBD locations of these markets, suggesting that the lower perceived risk associated with these large markets is restricted to a relatively small area within these markets that are reputed to be safe investments.

The findings imply that investors view properties in peripheral urban locations as imperfect substitutes for CBD properties. Further analysis also shows that these risk premia are not uniformly applied across real estate asset types. The CBD risk effect is particularly pronounced for office and retail assets, apparently considered “prime” investments within the central locations.

This is one of the first empirical studies of the risk implications of peripheral commercial real estate locations. It is also one of the first large-scale cap rate analyses of the German commercial real estate market. The results demonstrate that risk perceptions of investors have a distinct spatial dimension.

This chapter addresses ambidexterity at the individual level. Ambidexterity is defined as a company's ability to guarantee both short- and long-term successes by simultaneously exploring new market or new technological paths and improving existing products. We demonstrate that this ability can result from the evolution of social networks linking individuals involved in idea development. We used a longitudinal approach that combined case study and social network structure analysis of the R&D center of a semiconductor company. Six cases have been selected according to the level of disruption of the first idea generated and the end result in terms of exploration and exploitation. For these six cases, data have been gathered from monthly project reviews, press articles and listings of patents. Seventy-four interviews with key actors in the idea-development process have also been conducted.We mapped the relationships between actors who have contributed to the development of the idea through creative thinking and/or helped it to be accepted both internally and externally over three-year windows. Consequently, two network pictures are drawn for each case, and network structure indicators are computed for these two representations. We created a description of network evolution and the consequences of this process on the level of disruption of the ideas involved. This research demonstrated that different network structures and types of connections are relied upon depending on the explorative or exploitative objectives of teams of individuals.

Proposes how a global Hypermedia system could evolve from the “Hyper‐G” system, currently being developed at Graz University. Overviews the development of Internet from post‐war visionary speculation to present. Explains some limitations of the current architecture (World Wide Web, Gopher, WAIS). Presents in detail the architecture of a massively distributed hypermedia system. Explains how the proposed system would be much faster, overcoming such problems as documents being oriented by location rather than by subject. Suggests possible applications.

An emerging stream of literature has observed that project-based organizations rely increasingly on a network of collaborations originating from the ongoing process of creating and dissolving relationships that bring new project opportunities. Project-based networks are widespread in knowledge-intensive and creative industries, such as life-science and biotechnology, nanotechnology, and software, film, and music industry. This chapter examines the structural characteristics of project-based network-ties in German biotech. We focus on the consequences of local versus international network ties for the innovative success of German biotechnology firms. The findings of our longitudinal event history analysis indicate that the most valuable learning drivers are international research alliances and centrality within the international research network. Surprisingly, we do not find any local effects: neither the density of a local research cluster, nor its diversity or age is of significance. Our results shed new light on the relevance of international linkages for firms that are engaged in project-based learning networks.