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| Author: | Alessandri, T. M. Bettis, R. A. |
| Title: | Surviving the bulls and the bears: robust strategies and shareholder wealth |
| Journal: | Long Range Planning
2003 : FEB, VOL. 36:1, p. 13-35 |
| Index terms: | Economic indicators Financial markets Company performance Competitive advantage |
| Language: | eng |
| Abstract: | The findings of this study demonstrate that few firms performed well in both the bull and bear markets but those that did achieve superior performance over the market cycle employed innovative strategies that competitors struggled to imitate. These superior strategies resulted in lower cost structures and/or the ability to charge premium prices. It concludes that managers should integrate into their business models to obtain similar competitive advantage that is robust to drastically changing market conditions. |
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