Task:
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:
1) An Introduction which outlines the main points the answer will cover 'critical discussion'
2) the answer needs also to assess the strengths and weaknesses of the view that firm performance is path dependent.
3) the answer should contain, or even start with, a definition of path dependent and what we mean by 'performance'.
4) 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.
5) the answer should contain suitable examples to illustrate your outline and arguments.
6) the answer must reference, in-text, course concepts, theories, models and illustrations, using the Harvard System.