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Strategy making, novelty and analogical reasoning — commentary on Gavetti, Levinthal, and Rivkin (2005)

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  • Moshe Farjoun

Abstract

This commentary responds to and builds upon a recent article about the role of analogical reasoning in strategy making (Gavetti, Levinthal, and Rivkin, 2005). Based on conceptual and formal analysis, the authors state that in complex and novel contexts, analogical reasoning may be superior to two established models: rational choice and local incremental search. I show that given an alternative conceptualization of the strategy‐making context and main models, analogical reasoning is not necessarily superior. Furthermore, in novel and complex contexts, this model and other approaches such as mental experimentation can play a larger role, particularly in inventing effective strategies. I further extend the analysis by considering some boundary conditions in which analogical reasoning and its alternatives best apply, exploring the idea that blending and adapting several search strategies may be more effective than using only one method, such as analogical reasoning, and advancing new directions for empirical research. Copyright © 2008 John Wiley & Sons, Ltd.

Suggested Citation

  • Moshe Farjoun, 2008. "Strategy making, novelty and analogical reasoning — commentary on Gavetti, Levinthal, and Rivkin (2005)," Strategic Management Journal, Wiley Blackwell, vol. 29(9), pages 1001-1016, September.
    • Handle: RePEc:bla:stratm:v:29:y:2008:i:9:p:1001-1016
    DOI: 10.1002/smj.690
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    Cited by:

    1. Shubha Patvardhan & J. Ramachandran, 2020. "Shaping the Future: Strategy Making as Artificial Evolution," Organization Science, INFORMS, vol. 31(3), pages 671-697, May.
    2. Emmanuelle Reuter, 2022. "Hybrid business models in the sharing economy: The role of business model design for managing the environmental paradox," Business Strategy and the Environment, Wiley Blackwell, vol. 31(2), pages 603-618, February.
    3. Tomi Laamanen & Johan Wallin, 2009. "Cognitive Dynamics of Capability Development Paths," Journal of Management Studies, Wiley Blackwell, vol. 46(6), pages 950-981, September.
    4. Joep P. Cornelissen & Jean S. Clarke, 2010. "Imagining and rationalizing opportunities : Inductive reasoning and the creation and justification of new ventures," Post-Print hal-02276730, HAL.

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