Competition Traps: Unconscious Biases and Conscious Decision
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Date
2023
Authors
Osiyevskyy, Oleksiy
Shevchenko, Liudmyla
Marchenko, Olga
Umantsiv, Yurii
Journal Title
Journal ISSN
Volume Title
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Abstract
Competition traps are common situations across industries where players become locked in intense and ineffective competitive positions leading to negative outcomes for everyone involved. This article summarizes the insights of the previously disconnected streams of literature, distinguishing five broad types of traps: cognitive, price, disruptive, platform, and internal competition traps. The article outlines the mechanisms behind each type of trap and negative impacts they can have for the companies and industries. The study concludes by providing evidenceābased managerial advice about avoiding the various competition traps, enabling the companies to achieve sustainable growth and success.
Description
Keywords
competition traps, type of trap, competitiveness, management decisions, article
Citation
Competition Traps: Unconscious Biases and Conscious Decisions / Oleksiy Osiyevskyy, Liudmyla Shevchenko, Olga Marchenko, Yurii Umantsiv // Rutgers Business Review. - 2023. - Vol. 8, No. 2. - Š . 111ā130.