UNIVERSITY OF COLORADO AT BOULDER
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Assistant Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
July 26, 1999
Dr. Izak Benbasat
Editor-in-Chief
Information Systems Research (ISR)
Faculty of Commerce and Business Administration
The University of British Columbia
2053 Main Mall, Vancouver, B.C.
Canada V6T 1Z2
Dear Izak,
I am enclosing a manuscript that I would like to be considered for publication in ISR. The title of the manuscript is: "Dynamic Capabilities Development in Less-Developed Countries: Lessons form the Internet Strategy at Bolsa de Valores de Guayaquil.” The paper analyzes how a Latin American stock exchange, Bolsa de Valores de Guayaquil (BVG), pioneered a global strategy to use the Internet to educate its local Ecuadorian market and reach investors worldwide. The BVG case study presents a powerful example of how an Internet strategy can be successfully developed even in a less-developed country with poor infrastructure, lack of governmental support, scarce resources, and insufficient technical and managerial skills.
This study suggests that the process of Internet strategy formation and implementation at BVG depended fundamentally on the development of dynamic capabilities, and on difficult-to-imitate combinations of external, organizational, and technological resources. It identifies how the Internet strategy at BVG was supported by a particular set of dynamic capabilities (strategic foresight, flexibility, trustworthiness, and integration) that, in turn, were created by combining firm-specific resources. Furthermore, this study articulates, for the first time, a model proposing a temporal ordering of the resources that enabled the creation of those dynamic capabilities in less-developed countries. In doing so, it provides an opportunity to complement and expand the “resource-based” approach.
The study also contributes to practice by providing normative suggestions to managers concerning tactics that may prove useful during the various phases of Internet strategy formation and implementation. This research should help to better understand how a firm can develop dynamic capabilities to shape a marketplace and use the Internet strategically in a constraining and unstable environment. Thus, it should be of interest to both IT researchers and practitioners.
I would like to suggest that Dr. Cynthia Beath serve as Associate Editor. In the event that Dr. Beath is unable to handle the manuscript, I would like to suggest Dr. Joyce Elam.
In considering experts who would be in a position to review this paper, I would suggest the following individuals:
Dr. T. Ravinchandran
Lally School of Management & Technology
Rensselaer Polytechnic Institute
Troy, NY 12180
TELEPHONE: (518) 276 2035
FAX: (518) 276 8661
EMAIL: ravit@rpi.edu
Dr. Dorothy E. Leidner
INSEAD
Boulevard de Constance
77305 Fontainebleau cedex France
TELEPHONE: 33-1-60-72-40-04
FAX: 33-1-60-74-55-00
EMAIL: dorothy.leidner@insead.fr
Dr. Dennis F. Galletta
Katz Graduate School of Business
University of Pittsburgh
Pittsburgh, PA 15260
TELEPHONE: 412-648-1699
FAX: 412-648-1693
EMAIL: galletta@vms.cis.pitt.edu
Please address all correspondence on this submission to me at the address listed at the end of this message or to my e-mail address (Ramiro.Montealegre@Colorado.edu). Thanks in advance for your help in processing this manuscript. I look forward to hearing from the various reviewers.
Sincerely,
The findings suggest that the process of Internet strategy formation and implementation at BVG depended fundamentally on the development of a particular set of dynamic capabilities (strategic foresight, flexibility, trustworthiness, and integration), and on difficult-to-imitate combinations of external, organizational, and technological resources.
The contribution of this study is in the development of a grounded model that adds a temporal perspective, allowing a disparate set of resources (assets and competencies) and capabilities to be tied together into a more coherent framework that can serve as the basis for further investigations.
More generally, this research brings to light some of the strategies and tactics that managers can employ to develop dynamic capabilities to support the formation and implementation of Internet strategies in less-developed countries.
While prior research has identified a number of resources and capabilites now believed to be realted to how firms can create competitive value from IT initiatives, there is no overall model of how some of these resources are developed and managed.
This study advances..
This study represents a contribution to research in that it articulates, for the first time, a model proposing a temporal ordering of the firm-specific resources that enable the creation of those dynamic capabilities in LDCs. But as this temporal model was derived from a single case study, even though the propositions based on it make conceptual sense, an independent test is still required.
The BVG case study presents a powerful example of how an Internet strategy can be successfully developed even in an LDC with poor IT infrastructure, lack of governmental support, scarce resources, and staff with insufficient technical and managerial skills. The past literature on IT innovations in LDCs has tended to highlight the importance of adapting information practices and IT implementations to the core competencies (including infrastructure) and values of a nation (Lachman et al. 1994). However, a number of authors have recently begun to challenge this research focus on “fit” and “adaptation” (Barret and Walsham 1995, Jarvenpaa and Leidner 1998, Montealegre 1997). This study shows that an example of how an IT initiative can be successfully formulated and implemented even in an LDC with contextual imperfections and scarcities.
Dear Professor Benbasat,
I am acknowledging the reception of your review of my paper "Dynamic Capabilities Development in Less-Developed Countries: Lessons form the Internet Strategy at Bolsa de Valores de Guayaquil” (ISR log #1999-078-0). Although receiving such a decision is never easy, I really appreciate your promptness in your review, and your comments. I am sure your suggestions will be very helpful in improving my manuscript, particularly the literature review section. I spent much time working on reporting the case study facts and findings, and was not careful in properly citing and providing credit to prior research works. Thank you for your advice.
Sincerely,
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Assistant Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
September 3, 1999
Dr. Vladimir Zwass
Editor-in-Chief, Journal of Management Information Systems
19 Warewoods Road
Saddle River, New Jersey 07458
Dear Dr. Zwass,
Enclosed you will find four copies of an original manuscript that would like to be considered for publication in the Journal of Management Information Systems. The title of the manuscript is: "Development of Dynamic Capabilities in Less-Developed Countries: A Case Study of the Internet Strategy at Bolsa de Valores de Guayaquil.” The paper analyzes how a Latin American stock exchange, Bolsa de Valores de Guayaquil (BVG) in Ecuador, pioneered a global strategy to use the Internet to educate its local Ecuadorian market and reach investors worldwide. The BVG case study presents a powerful example of how an Internet strategy can be successfully developed even in a less-developed country with poor infrastructure, lack of governmental support, scarce resources, and insufficient technical and managerial skills.
This study suggests that the process of Internet strategy formation and implementation at BVG depended fundamentally on the development of dynamic capabilities, and on difficult-to-imitate combinations of external, organizational, and technological resources. It identifies how the Internet strategy at BVG was supported by a particular set of dynamic capabilities (strategic foresight, flexibility, trustworthiness, and integration) that, in turn, were created by combining firm-specific resources. Furthermore, this study articulates, for the first time, a model proposing a temporal ordering of the resources that enabled the creation of those dynamic capabilities in less-developed countries. In doing so, it provides an opportunity to complement and expand the “resource-based” approach.
The study also contributes to practice by providing normative suggestions to managers concerning tactics that may prove useful during the various phases of Internet strategy formation and implementation. This research should help to better understand how a firm can develop dynamic capabilities to shape a marketplace and use the Internet strategically in a constraining and unstable environment. Thus, it should be of interest to both IT researchers and practitioners.
If you have any questions, please feel free to correspond. Thanks in advance for your help in processing this manuscript. I look forward to hearing from the various reviewers.
Sincerely,
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Assistant Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
September 20, 1999
Diane Crawford
Executive Editor
Communications of the ACM
1515 Broadway
New York, New York 10036
Dear Ms. Crawford,
Enclosed you will find three copies of an original manuscript to be considered for publication in Communications of the ACM. The title of the manuscript is: "Developing Internet Strategies in Less-Developed Countries: Lessons from Bolsa de Valores de Guayaquil.” The paper analyzes how a Latin American stock exchange, Bolsa de Valores de Guayaquil (BVG) in Ecuador, pioneered a global strategy to use the Internet to educate its local market and reach investors worldwide. The BVG case study presents a powerful example of how an Internet strategy can be successfully developed even in a less-developed country with poor infrastructure, lack of governmental support, scarce resources, and insufficient technical and managerial skills. Thus, it affords an opportunity of investigating the use of the Internet in a research context that differs from today’s dominant research setting (North America/Europe).
The article provides normative suggestions concerning tactics that may prove useful during the various phases of Internet strategy development. This research should help to better understand how a firm can shape a marketplace and use the Internet strategically in a constraining and unstable environment. Thus, it should be of interest to both computing practitioners and researchers.
In considering experts who would be in a position to review this paper, I would suggest the following individuals:
Dr. Laurence Press
Computer Information Systems
Office SBS D-322
1000 East Victoria Street
School of Management
California State University, Dominguez Hills
Carson, California 90747
TELEPHONE: (310) 243-3579
EMAIL: Lpress@isi.edu
Dr. Richard Heeks
Institute for Development Policy & Management
University of Manchester
Crawford House, Precinct Centre
Oxford Road
Manchester M13 9GH, U.K.
TELEPHONE: +44-161-275-2870
FAX: +44-161-273-8829
EMAIL: Richard.Heeks@man.ac.uk
If you have any questions, please feel free to correspond. Thanks in advance for your help in processing this manuscript. I look forward to hearing from the various reviewers.
Sincerely,
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Assistant Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
Dear Heather Semon
Attached you will find my original manuscript to be considered for publication in IEEE Computer (in MS Word format). The title of the manuscript is: "Developing Internet Strategies in Constrained and Uncertain Environments: Lessons from Bolsa de Valores de Guayaquil.” The paper analyzes how a Latin American stock exchange, Bolsa de Valores de Guayaquil (BVG) in Ecuador, pioneered a global strategy to use the Internet to educate its local market and reach investors worldwide. The BVG case study presents a powerful example of how an Internet strategy can be successfully developed even in a less-developed country with poor infrastructure, lack of governmental support, scarce resources, and insufficient technical and managerial skills. Thus, it affords an opportunity of investigating the use of the Internet in a research context that differs from today’s dominant research setting (North America/Europe).
The article provides normative suggestions concerning tactics that may prove useful during the various phases of Internet strategy development. This research should help to better understand how a firm can shape a marketplace and use the Internet strategically in a constraining and unstable environment. Thus, it should be of interest to both computing practitioners and researchers.
If you have any questions, please feel free to correspond. Thanks in advance for your help in processing this manuscript. I look forward to hearing from the various reviewers.
Sincerely,
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Assistant Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
March 24, 2000
Professor Claudia Bird Schoonhoven
Editor-in-Chief, Organization Science
Graduate School of Management
University of California-Irvine
Irvine, California 92697-3125
Dear Professor Schoonhoven,
Enclosed you will find five copies of an original manuscript that would like to be considered for publication in the Organization Science. The title of the manuscript is: " Internet Strategy at Bolsa de Valores de Guayaquil: A Model of Resources and Competencies Ordering to Develop Dynamic Capabilities in a Less-Developed Country.”
I would like to suggest that Dr. Wanda Orlikowski serve as Senior Editor. In considering experts who would be in a position to review this paper, I would suggest the following individuals:
Dr. T. Ravinchandran
Lally School of Management & Technology
Rensselaer Polytechnic Institute
Troy, NY 12180
TELEPHONE: (518) 276 2035
FAX: (518) 276 8661
EMAIL: ravit@rpi.edu
Dr. Cynthia M. Beath
The University of Texas at Austin
CBA 5.202
Austin, TX 78712-1175
TELEPHONE: (512) 471-3322
FAX: (512) 471-0587
EMAIL: cbeath@mail.utexas.edu
Dr. Dorothy E. Leidner
INSEAD
Boulevard de Constance
77305 Fontainebleau cedex France
TELEPHONE: 33-1-60-72-40-04
FAX: 33-1-60-74-55-00
EMAIL: dorothy.leidner@insead.fr
Dr. Dennis F. Galletta
Katz Graduate School of Business
University of Pittsburgh
Pittsburgh, PA 15260
TELEPHONE: 412-648-1699
FAX: 412-648-1693
EMAIL: galletta@vms.cis.pitt.edu
I affirm that my manuscript conforms to the submission policy of Organization Science.
The paper analyzes how a Latin American stock exchange, Bolsa de Valores de Guayaquil (BVG) in Ecuador, pioneered a global strategy to use the Internet to educate its local Ecuadorian market and reach investors worldwide. The BVG case study presents a powerful example of how an Internet strategy can be successfully developed even in a less-developed country with poor infrastructure, lack of governmental support, scarce resources, and insufficient technical and managerial skills.
This study suggests that the process of Internet strategy formation and implementation at BVG depended fundamentally on the development of dynamic capabilities, and on difficult-to-imitate combinations of external, organizational, and technological resources. It identifies how the Internet strategy at BVG was supported by a particular set of dynamic capabilities (strategic foresight, flexibility, trustworthiness, and integration) that, in turn, were created by combining firm-specific resources. Furthermore, this study articulates, for the first time, a model proposing a temporal ordering of the resources that enabled the creation of those dynamic capabilities in less-developed countries. In doing so, it provides an opportunity to complement and expand the “resource-based” approach.
The study also contributes to practice by providing normative suggestions to managers concerning tactics that may prove useful during the various phases of Internet strategy formation and implementation. This research should help to better understand how a firm can develop dynamic capabilities to shape a marketplace and use the Internet strategically in a constraining and unstable environment. Thus, it should be of interest to organizational and information technology researchers and practitioners.
If you have any questions, please feel free to correspond. Thanks in advance for your help in processing this manuscript. I look forward to hearing from the various reviewers.
Sincerely,
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Assistant Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
December 8, 2000
Andrea Canfield
Managing Editor, Organization Science
Graduate School of Management 419A
University of California-Irvine
Irvine, California 92697-3125
Dear Dr. Canfield,
Following Claudia Bird Schoonhoven’s recommendation, enclosed you will find five copies of my revised paper “A Process Model of Resource and Capability Development: Lessons from the EC Strategy at Bolsa de Valores de Guayaquil” (Manuscript: OS00-1044). Please notice that the original title of the paper was “Internet Strategy at Bolsa de Valores de Guayaquil: A model of resources and competencies ordering to develop dynamic capabilities in a less-developed country.”
The revisions suggested by the Senior Editor, and the three reviewers have been made. I found their extensive comments very helpful in further developing my ideas and the manuscript. Also enclosed I have reproduced the original comments furnished to me by the Senior Editor James Walsh on the paper along with how I have responded to these comments in this revision.
If you have any questions, please feel free to correspond. Thanks in advance for your help in processing this manuscript. I look forward to hearing from the Senior Editor and the various reviewers.
Sincerely,
UNIVERSITY OF COLORADO AT BOULDER
GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Ramiro Montealegre Campus Box 419
Associate Professor Boulder, Colorado 80309-0419
(303) 492-0416
(303) 492-5962 Facsimile
E-mail: Ramiro.Montealegre@Colorado.edu
May 16, 2001
Andrea Canfield
Managing Editor, Organization Science
Graduate School of Management 419A
University of California-Irvine
Irvine, California 92697-3125
Dear Dr. Canfield,
Enclosed you will find five copies of my revised paper “A Process Model of Resource and Capability Development: Lessons from the EC Strategy at Bolsa de Valores de Guayaquil” (Manuscript: OS00-1044.1).
The revisions suggested by the Senior Editor and the reviewers have been made. I found their extensive comments very helpful in further developing my ideas and the manuscript. Also enclosed I have reproduced the original comments furnished to me by the Senior Editor James Walsh on the paper along with how I have responded to these comments in this revision.
If you have any questions, please feel free to correspond. Thanks in advance for your help in processing this manuscript. I look forward to hearing from the Senior Editor.
Sincerely,
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