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The clock is ticking: surviving privatization and deregulation by utilizing the running time

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  • Smith, Anne
  • Golden, Peggy
  • Pitcher, Patricia

Abstract

Deregulation interrupts industry evolution, leading to failure or absorption of many once-proud, dominating firms. Privatization also radically changes the evolution of an organization, as it moves from a protected, state-aligned institution to life subjected to the harsh forces of private sector ownership and scrutiny. Yet, deregulation and privatization do not occur overnight. We identify a period in many regulated or monopolistic industries which affords incumbent firms and soon-to-be privatized organizations the time to ready themselves for a radically changed, competitive landscape. We identify this period as the running time. Companies that survive and thrive in a post-privatization and post-regulation era initiate strategic processes early in their running time. We present a four stage model of strategic survival processes during the running time. We illustrate the model by drawing upon an in-depth case study from the US banking industry.

Suggested Citation

  • Smith, Anne & Golden, Peggy & Pitcher, Patricia, 1999. "The clock is ticking: surviving privatization and deregulation by utilizing the running time," European Management Journal, Elsevier, vol. 17(4), pages 409-421, August.
    • Handle: RePEc:eee:eurman:v:17:y:1999:i:4:p:409-421
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    Cited by:

    1. Roth, Kendall & Kostova, Tatiana, 2003. "Organizational coping with institutional upheaval in transition economies," Journal of World Business, Elsevier, vol. 38(4), pages 314-330, November.

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