Quem está disposto a arriscar?

Em tempos de crise o acesso a fundos não é fácil.
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Quem está disposto a arriscar?
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Executar uma estratégia não é um passe de mágica, não é o mesmo que accionar um interruptor.
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O resultado da execução de uma estratégia é o resultado do somatório de um conjunto de decisões e acções.
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Quando uma empresa identifica os seus clientes-alvo, formula uma proposta de valor e alinha o seu mosaico de actividades e de investimentos em recursos e infra-estruturas, começa a seguir um percurso estratégico. À medida que se avança nesse percurso, surgem novas oportunidades alinhadas com as anteriormente abraçadas, a coisa é auto-catalítica, e começa-se a formar um padrão de actuação.
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BTW, quando se fazem escolhas estratégicas, que quando são a sério são difíceis, uma vez feitas o mundo fica mais fácil de encarar; o saber-se o que se quer e, sobretudo, o que não se quer, permite perceber melhor como actuar, permite rapidamente verificar se uma acção, se uma linha de actuação vai no sentido certo, e isso gera uma sinergia aceleradora.
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Voltando ao padrão de actuação que se começa a formar, e como é que esses padrões são percepcionados por quem está de fora a observar?
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Um subsídio para uma resposta encontra-se em "Value From Gestalt: How Sequences of Competitive Actions Create Advantage For Firms In Nascent Markets" de Violina Rindova, Walter Ferrier e Robert Wiltbank, e publicado na revista Strategic Management Journal, 31: 1474–1497 (2010):
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"Rooted in the Austrian view of markets as disequilibrium systems, this research emphasizes that competitive advantage is temporary and dynamic, as it derives from the streams of competitive actions that firms carry out to disrupt the market positions of competitors and improve their own.
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Research on hypercompetition has similarly argued that firms can seize temporary advantages over rivals through aggressive competitive actions characterized by strategic surprise, speed, and simultaneous and sequential thrusts. Consistent with this view, empirical studies show that a wide range of established industries have experienced ‘a hypercompetitive shift’ characterized by a sharp increase in competitive activity, greater volatility in industry profitability, and higher rates of turnover in market share leadership.
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The goal of our study is to begin to shed light on this question by examining how competitive action sequences affect investor valuations of firms associated with different levels of ambiguity in nascent markets. We focus on nascent markets because they are environments in which ‘lack of clarity about the meaning and implications of particular events or situations’generates varying levels of ambiguity. Ambiguity is distinct from uncertainty, which refers to the inability to predict probabilities for specific outcomes. Ambiguity, in contrast, presents market participants with problems of interpretation and understanding, and not only of prediction. As a result, observers’ interpretations and evaluations can determine firms’ access to resources to a large extent.
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Gestalt properties are those that ‘depend on the interrelations among component parts’and that are, by definition, relational. We extend these ideas to the domain of competitive actions and
advantage by theorizing how the Gestalt properties present in sequences of competitive actions may stimulate pattern perception, defined as ‘the identification of a coherent and meaningful relationship among a set of stimuli’
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These findings suggest that the orchestration of competitive moves to stimulate pattern perception may be an important mechanism for creating competitive advantage in high-ambiguity environments.
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First, research on pattern perceptions suggests that a lack of control results in ‘seeing and seeking patterns.’ because pattern perception ‘is a compensatory mechanism designed to restore feelings of control’ through cognitively effortful integration of diverse data. Audiences facing high-ambiguity contexts in nascent markets are likely to experience lack of control and to engage in compensatory pattern perception. Second, research shows that individuals integrate information in unfolding sequences of events by attending to salient Gestalt properties. An important characteristic of Gestalt properties is that they are not present in the component parts of the stimulus; therefore, their effects cannot be derived from observing the component parts in isolation. Precisely because they integrate the parts in a perceived whole, Gestalt properties increase the processing fluency and the ease of interpretation of a stimulus."
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Hipóteses testadas:
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"Hypothesis 1: For firms associated with high ambiguity, simple action sequences will be associated with higher investor valuations.
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Hypothesis 2: For firms associated with high ambiguity, predictable action sequences will be associated with higher investor valuations.
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Hypothesis 3: For firms associated with high ambiguity, grouping within action sequences will be associated with higher investor valuations.
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Hypothesis 4: For firms associated with high ambiguity, action sequences that exhibit motif will be associated with higher investor valuations.
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Hypothesis 1 predicted that action sequence simplicity will be positively related to investor valuations of firms that compete in the high-ambiguity condition. ... supporting Hypothesis 1. Hypothesis 2 predicted a positive relationship between action sequence predictability and investor valuations. ... Hypothesis 2, therefore, is not supported. Hypothesis 3 predicted that grouping in action sequences is positively associated with investor valuations of firms in the high-ambiguity condition. ... suggests support for this hypothesis (3). Finally, Hypothesis 4 predicted a positive relationship between the presence of motif in action sequences and investor valuations. ... the results suggest support for Hypothesis 4, as well.
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As a result, the Gestalt properties present in competitive action sequences can provide firms with competitive advantages in access to resources."