The Business Failure Process. An Integrative Model of the Literature
Considering the fragmented literature related to business failure prevention and considering the need for a unifying conceptual framework on how and why companies fail, the current paper proposes an integration of the multiple similar, complementary or supplementary findings of previous preventive contributions, i.e. the studies focused on the identification of failure factors and of failure paths. An in-depth analysis of the existing literature and of its limitations leads us to the elaboration of an original integrative model on how and why companies fail. It is founded on a resource- based view of the firm (Wernerfelt, 1984) and it represents, in a deterministic perspective, the different general phases which a failing firm goes through until it eventually exits the failure process.
Volume (Year): LIII (2008)
Issue (Month): 3 ()
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