Introduction PART ONE: FORCES DRIVING HYPERCOMPETITION Empirical Evidence The Two Faces of Competition - L G Thomas, III Dynamic Resourcefulness and the Hypercompetitive Shift Austrian and Industrial Organization Perspectives on Firm-Level Competitive Activity and Performance - Greg Young, Ken G Smith and Curtis M Grimm International Perspective Hypercompetition, Japanese Style - Hiroyuki Itami PART TWO: HYPERCOMPETITIVE RESPONSES: NEW ORGANIZATIONAL FORMS AND STRATEGIES Denial The Paralysis of Deep Pockets - James L Bailey Acceleration Building a Leadership Position in a Hypercompetitive Technology Market - Peter Neupert Technological Platforms and Diversification - Dong-Jae Kim and Bruce Kogut The Japanese Beer Wars - Tim Craig Initiating and Responding to Hypercompetition in New Product Development Eating Your Own Lunch - Barrie R Nault and Mark B Vandenbosch Protection through Preemption Vertical Integration and Rapid Response in the Fashion Apparel Industry - James Richardson Management Hypercompetition in a Multimarket Environment - Javier Gimeno and Carolyn Y Woo The Role of Strategic Similarity and Multimarket Contact on Competitive Deescalation Adaptation Toward the Flexible Form - Henk W Volberda How To Remain Vital in Hypercompetitive Environments Prospering in Dynamically-Competitive Environments - Robert M Grant Organization Capability as Knowledge Creation Social Capital, Structural Holes and the Formation of an Industry Network - Gordon Walker, Bruce Kogut and Weijian Shan Responding to Hypercompetition - Jan Hanssen-Bauer and Charles C Snow The Structure and Processes of a Regional Learning Network Organization Social Networks, Learning and Flexibility - Julia Porter Liebeskind et al Sourcing Scientific Knowledge in New Biotechnology Firms Garbage Cans and Advancing Hypercompetition - Anne D Smith and Carl Zeithaml The Creation and Exploitation of New Capabilities and Strategic Flexibility in Two Regional Bell Operating Companies The Evolution of Intracorporate Domains - D Charles Galunic and Kathleen M Eisenhardt Divisional Charter Losses in High-Technology, Multidivisional Corporations Spontaneous Organizational Reconfiguration - Kenneth E Aupperle A Historical Example Based on Xenophon′s Anabasis PART THREE: OTHER PERSPECTIVES The Dark Side of the New Organizational Forms - Bart Victor and Carroll U Stephens An Editorial Essay Refining Our Understanding of Hypercompetition and Hyperturbulence - Asaf Zohar and Gareth Morgan