Fricção e Originação de Valor

"There is a long tradition in strategy of linking superior performance to the existence of imperfect competition and competitive frictions play a central role in both the industry-level and resource-level of analysis. In particular, Mahoney (2001) argues that the resource-based view is fundamentally about the set of frictions that enable the capture of sustainable rents. Without any frictions, perfectly competitive product and factor markets assure that all rents are dissipated.
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As perfect competition arises when all buyers are always able to play all suppliers off against one another, the introduction of such frictions serves to moderate the level of rivalry in the market.
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Markets with low frictions are those where little or no information has to be acquired for transactions and negotiations to take place. Everyone knows who is selling and what is to be sold. For example, commodity markets show very little frictions. Markets with high frictions are those where it is costly to ascertain the quality of what is to be sold to buyers and suppliers need to spend time to search for each other. (Moi ici: Julgo que esta descrição está incompleta. A fricção, a imperfeição do mercado não surge só por causa da falta de informação. Quando uma empresa se diferencia, pelo seu serviço, pelo seu produto, pela sua flexibilidade, pela relação que desenvolveu com os clientes, está a tornar o mercado imperfeito, está a introduzir fricção) Matching between supply and demand is hence imperfect. Markets for new innovative products could be characterized by high frictions as buyers need to understand if the new product fits their needs and suppliers need to understand who constitutes their demand. Professional services could also be characterized as high frictions as there are both high switching costs and services can be difficult to evaluate.
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Obviously, as markets evolve over time, the level of frictions can change. The definition of standards, the establishment of reputations and the maturation of technologies can contribute to reduce frictions. (Moi ici: Os autores só abordam a fricção na relação entre fornecedores e clientes. Acho muito mais interessante a fricção que um fornecedor cria na relação entre os clientes-alvo e outros fornecedores ao se diferenciar) The increased availability of information through the internet for products can be seen as lowering frictions; more generally advances in information and communications technologies can be seen as allowing buyers to work with a larger and more dispersed set of suppliers."
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Até porque está de acordo com a definição de fricção dada pelos autores do artigo:
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"A central aim of this paper is to introduce frictions into value-based analysis. We define frictions as impediments to the free form negotiations among all players that are assumed in the received value-based approach. The key implication of the presence of frictions is to break the assumption that all buyers are able to negotiate with all sellers. As perfect competition arises when all buyers are always able to play all suppliers off against one another, the introduction of frictions serves to moderate the level of rivalry."
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Pensemos nas empresas grandes, plenas de capacidade financeira... e como não são capazes de ser eternas... 
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"A leader with high value creation and a follower with low value creation emerge due to the conjunction of two factors. The first factor, which is due to the underlying cooperative game theoretic model, is that free form negotiation allows buyers to make suppliers compete harshly against each other. Solely on the basis of free form negotiation this would be a winner-take all market, with room for only one supplier, as two identical suppliers would both earn zero profits. The second factor, which we introduced in this paper, is the friction parameter which shields the weaker supplier from the brunt of competition from the stronger one. Because of frictions, which prevent some buyers from negotiating with both suppliers at the same time, there is a niche available in the market for a weaker supplier and which justifies this supplier’s investment in some capabilities."
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Trechos retirados de "Value Creation and Value Capture with Frictions" de Olivier Chatain e Peter Zemsky.