Problem: Critically discuss the view that the performance of firms can be 'path dependent'.
Illustrate the answer with examples which support your analysis.
Guidance Notes:
Relevant to Teece et al, Cohen and Levinthal, Carlisle to name a few. A comprehensive answer to this question will include the following key aspects of the question.
The answer should be structured as follows:
- An Introduction which outlines the main points the answer will cover
- 'critical discussion'
- the answer needs also to assess the strengths and weaknesses of the view that firm performance is path dependent.
- the answer should contain, or even start with, a definition of path dependent and what we mean by 'performance'.
- the core of your answer must address the central thrust of the question, namely that the role that path dependency can play in determining the performance of a firm.
- the answer should contain suitable examples to illustrate your outline and arguments.
- the answer must reference, in-text, course concepts, theories, models and illustrations, using the Harvard System.