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Article
Factor Market Myopia: A Driver of Factor Market Revalry
Transportation Journal (2017)
  • Peter Ralston, University of West Florida
  • Steven LeMay, University of West Florida
  • Rose Opengart, Dalton State College
Abstract
As customer expectations grow and companies across industries face extreme marketplace pressures, unexpected or, rather, unintended battles for resources and inputs can arise.This intense competition over inputs of production and services is called factor market rivalry. While previous work has discussed factor market rivalry and some potential mitigation strategies from its ill effects, one may wonder why factor market rivalry induces such extreme competition among firms for similar resources. Obviously materials with constrained supplies contribute to factor market rivalry, but the current research suggests that factor market rivalry is further caused by factor market myopia (FMM). FMM stems form viewing the sources of resources too narrowly or becoming fixated on a singular input when substitutes may exist. Developing the concept of FMM and contextualizing the idea in generalizable theory are the primary contributions of the current research.
Keywords
  • Factor-market rivalry,
  • Factor-market myopia,
  • Marketing myopia,
  • Competitive blind spots
Publication Date
Spring 2017
Publisher Statement
2017 Penn State University Press. Posted with permission.
Citation Information
Peter Ralston, Steven LeMay and Rose Opengart. "Factor Market Myopia: A Driver of Factor Market Revalry" Transportation Journal Vol. 56 Iss. 2 (2017) p. 167 - 183
Available at: http://works.bepress.com/peter-ralston/3/