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| Windows of Opportunity，Composition-based Strategy and Latecomer Firms' Catch-up：a Case Study on the Dahua Technology |
| Xu Jianxin1,Zhang Haidi1,Xu Qiang2 |
| （ 1.Management School，Hangzhou Dianzi University，Hangzhou 310018，China；2.Management School，Zhejiang University of Technology，Hangzhou 310023，China） |
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Abstract This paper conducts a case study of a leading figure in security industry,Dahua Technology from China's Zhejiang Province,and explores when faced with windows of opportunities,how the latecomer firm in different stages of catch-up cycle to integrate and leverage inside and outside resources,to respond the windows of opportunity via Composition -based strategy and makes the catch-up possible,from initial catch-up to surpass catch-up and then take the lead in the industry.The paper finds that,first,different windows of opportunities are interconnected and interacted,there is a domino effect,one window of opportunity will trigger the emergence of another,and then more window of opportunity in the entire industry.Second,the implementation process of Composition-based strategy is: taking Compositional-capability as the motive force,constructing Compositional-offering,surpassing through Compositional- competition.From the perspective of Composition-based strategy,the path of latecomer firms catch-up is evolving from "achieved edge catch-up guided by imitative innovation of technology" to "achieved business model innovation guided by market grasp and expansion" and then to " enhanced system competitiveness guided by comprehensive collaborative innovation".Third,during the catch-up cycle,latecomer firms adopt Composition-based strategy to respond the windows of opportunity and take advantage of these opportunities to make catch-up possible.With the accumulation and refinement of resources and capabilities,the response mechanism of Composition-based strategy to windows of opportunity evolves from "passive response" to "active response",and then leading at the edge.
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Received: 31 July 2020
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