One of the most provoking issues discussed today is the problem of productivity decline in the U.S. economy as a whole. It is of great interest because of its fundamental effect on the health of the U.S. economy and on the general well-being of its populace. The mystery of this phenomenon has been vigorously pursued by professionals from all fields of endeavor and has generated hundreds, p…
"Critical fixities," the factors that inhibit change within organizations, are defined and explained in this study. Implications of these phenomena on leap-frog type competition, entry strategy, vertical integration, and timing of investment are derived. The U.S. steel industry and the behavior of firms within this Industry are used to illustrate these implications.