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Cognitive mapping is a qualitative decision modeling technique developed over twenty years ago by political scientists, which continues to see occasional use in social science and decision-aiding applications. In this paper, I show how cognitive maps can be viewed in the context of more recent formalisms for qualitative decision modeling, and how the latter provide a firm semantic foundation that can facilitate the development of more powerful inference procedures as well as extensions in expressiveness for models of this sort.

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*Shell International

The dynamics of change and the path−dependent evolution of resources and capabilities are central concerns of contemporary strategic management. This paper integrates the resource−based and dynamic capabilities literatures to explain why development of dynamic capabilities is especially important for firms that transition from regulated to deregulated environments. We develop a theoretical model and specific propositions concerning the pattern and sequencing of dynamic capability development within environments experiencing substantial change, specifically in newly deregulated industries. We discuss implications of the proposed theoretical model for both research and managerial practice.

Improving venture capitalists' decision processes is key to reducing failure rates for venture capital backed companies and to improving portfolio returns. In this paper we describe the use of a novel technique---Bayesian causal maps---to support and improve venture capital decision making. We combine causal mapping and Bayesian network techniques to construct a Bayesian causal map. The resulting probabilistic model represents salient features of decision makers' mental models and inference processes. Heeding the call of prior research, we focus not on generating incremental descriptive insights into the actual decision processes of venture capitalists, but concentrate on creating a model designed to serve as a practical decision aid. The process of constructing Bayesian causal maps is presented using the real case of an experienced venture capitalist specializing in early stage, high technology investments. We then turn our attention from the construction of Bayesian causal maps to their application. Bayesian causal maps can support venture capital decision making through bias reduction, reduction of unsystematic error, assumption surfacing, what-if analyses, and by facilitating systematic learning from experience, both individual and collaborative. We discuss the advantages of Bayesian causal maps as well as the limitations and challenges inherent in their construction and use. Suggestions for future research are also offered. Keywords : Cognitive Theory (1) - Cognitive mapping (10) - Decision making (12) - Venture capital (49) Characterization: Empirical Does not specifically deal with women's entrepreneurship 3 By most measures, including available capital, number of funded proposals, deal size, number of venture capital firms, and number of venture capitalists (VC...

The world banking industry is undergoing a large-scale transformation. Banking systems and financial markets, both domestic and international, have been undergoing a series of profound changes. One of the main driving forces of these worldwide changes is the introduction of innovations in new information technologies. Against these trends, industrial structure in the banking industry and banking regulation have sometimes encouraged these trends and sometimes adapted to them. The aim of this paper is to present research findings and the main arguments in the literature on technological change and industrial organisation in the banking industry. The last section of the paper focuses on the role of information technologies in the banking industry. We present research findings of functional studies on IT investment in the banking industry. These studies have analysed the relationship between IT and corporate performance by examining specific IT applications in the context of corporate strategies.

2. Strategic decisions for type-specific marketing on industrial goods markets 2.1 Overview of transaction cost economics-based typological approaches to industrial marketing 2.2 Outline of the selected approach: Business type constellations

We use the language of variation, selection and retention to create a uniform way of modeling and comparing different change journeys. We identify the genealogical and ecological processes that underlie four engines that drive renewal. This language allows us to trace how initiatives are formed, subsequently selected or rejected and how they subsequently unfold into new units or change existing units. From this we can categorize and analyze journeys that can be more or less suitable in different environments.

This paper shows for a sample of 134 large firms in twenty industries that industry character mediates the relationship between degree of initial internationalization achieved by mature, domestically rooted firms and the complexity and centrality of their strategy frames. Specifically, complexity of strategy frames is positively related to degree of initial internationalization in multi-domestic industries, while centrality of strategy frames is both positively related to degree of initial internationalization in global industries and negatively related to degree of initial internationalization in multi-domestic industries. The findings have implications for understanding the type of learning internationalizing firms engage in and the relationship between specific internationalization strategies and the strategy frames they support. Hermann, Nadkarni and Pérez December, 2003 1DRAFT!!! Strategy Frames, Industry Context and Internationalization DRAFT!!! The initial phase of internationalization is an uncertain, complex, and difficult strategic context (Yip, Gómez Biscarri, and Monti, 2000). Newly internationalizing firms have to match strategy to the demands imposed by foreign environments (Eriksson, Johanson, Majkgård, and Sharma, 1997; Roth & Morrison, 1992). A critical contingency is the nature of their industry’s