Richard Makadok

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  • Associate Professor of Organization & Management
  • Phone: (404) 727-8639
  • Fax: (404) 727-6313

Mailing Address:

1300 Clifton Road
Atlanta, GA 30322

Biography

Rich Makadok is a thought leader in strategic management research. Using his “Four Theories of Profit” framework, he focuses on developing a comprehensive overall understanding of the four main mechanisms that determine the profitability of a business (competitive advantage, rivalry restraint, information asymmetry, and commitment timing) and how those mechanisms affect each other.

He has also developed an innovative theory of hybrid governance forms that merge elements of both an organizational hierarchy and a market transaction. His empirical work focuses on developing indirect measures for the elusive concept of organizational capability and using these measures to predict the performance and strategic decisions of firms, in order to test theories of competitive advantage.

Prior to his academic career, Rich worked as Manager of Software Development for Century Management Consultants, Inc., where he designed and wrote The Century Promotion Manager, a software package to help consumer product companies manage their retail trade promotions more effectively.

Before joining the Emory faculty in 1997, Rich served on the faculty of Tulane University's A.B. Freeman School of Business.

Rich has won numerous teaching awards, and has taught courses on Strategic Management, International Strategy, Industry and Competitive Analysis, and Introduction to Management.

Publications

  • Makadok, Richard and Ross, David Gaddis (forthcoming). "Taking Industry Structuring Seriously: A Strategic Perspective on Product Differentiation." Strategic Management Journal.
  • Makadok, Richard (2011). The Four Theories of Profit and Their Joint Effects. Journal of Management 37(5):1316-34.
  • Makadok, Richard (2010). The Interaction Effect of Rivalry Restraint and Competitive Advantage on Profit: Why the Whole Is Less Than the Sum of the Parts. Management Science 56(2): 356-372.
  • Makadok, Richard, & Coff, Russell (2009). Both Market and Hierarchy: An Incentive-Systems Theory of Hybrid Governance Forms. Academy of Management Review, 34(2): 297–319.
  • Makadok, Richard (2003). Doing the Right Thing and Knowing the Right Thing to Do: Why the Whole Is Greater Than the Sum of the Parts. Strategic Management Journal, 24 (10): 1043-1055.
  • Makadok, Richard (2002). A Rational-Expectations Revision of Makadok's Resource/Capability Synthesis. Strategic Management Journal, 23 (11): 1051-1057.
  • Makadok, Richard, & Barney, Jay (2001). Strategic Factor Market Intelligence: An Application of Information Economics to Strategy Formulation and Competitor Intelligence. Management Science, 47 (12): 1621-1638.
  • Makadok, Richard (2001). Toward a Synthesis of the Resource-Based and Dynamic-Capability Views of Rent Creation. Strategic Management Journal, 22 (5): 387-402 (Lead article of the issue).
  • Makadok, Richard & Walker, Gordon (2000). Identifying a Distinctive Competence: Forecasting Ability in the Money Fund Industry. Strategic Management Journal, 21 (8): 853-864.
  • Makadok, Richard (1999). Inter-Firm Differences in Scale Economies and the Evolution of Market Shares. Strategic Management Journal, 20 (10): 935-952.
  • Makadok, Richard (1998). Can First-Mover and Early-Mover Advantages Be Sustained in an Industry with Low Barriers to Entry/Imitation? Strategic Management Journal, 19 (7): 683-696.
  • Makadok, Richard, & Walker, Gordon (1996). Search and Selection in the Money Market Fund Industry. Strategic Management Journal, 17 (summer special issue): 39-54.
  • Smith, Kenwyn K., Kaminstein, Dana, & Makadok, Richard (1995). The Health of the Corporate Body: Illness and Organizational Dynamics. Journal of Applied Behavioral Science, 31 (3): 328-351.

Areas of Specialization

  • Strategic Management
  • Competitive Advantage
  • Resource-Based View
  • Information Economics
  • Mutual Fund Industry

Achievements and Honors

  • 2011 Evening MBA Distinguished Educator Award.
  • 2009 Academy of Management Review Best Paper Award.
  • 2008 Marc F. Adler Prize for Excellence in Teaching.
  • 2007 Glueck Best Paper Award, Academy of Management BPS Division.
  • 2006 Distinguished Paper Award, Academy of Management BPS Division.
  • 2005 Modular Executive MBA Distance Learning Award.
  • 2004 Modular Executive MBA Distinguished Faculty Teaching Award.
  • 2004 Modular Executive MBA Distinguished Faculty Teaching Award.
  • 2003 Evening MBA Distinguished Educator Award.
  • 2002 Evening MBA Distinguished Educator Award.
  • 2000 Outstanding Reviewer Award, Academy of Management BPS Division.
  • 1997 Glueck Best Paper Award, Academy of Management BPS Division.
  • 1995-96 Outstanding Young Researcher Award (Tulane University, Freeman School of Business).
  • 1995-96 Lilly Endowment Teaching Fellowship (Tulane University).
  • 1995 MBA Teacher Honor Roll (Tulane University, Freeman School of Business).

Memberships and Activities

  • Founder and Chairperson, Atlanta Competitive Advantage Conference (ACAC).
  • Editorial Board, Strategic Management Journal.
  • Editorial Board, Academy of Management Review.
  • Executive Committee of Academy of Management BPS Division, 2002-2004.
  • Research Committee of Academy of Management BPS Division, 1998-2000.
  • Ad hoc reviewer for Administrative Science Quarterly, Academy of Management Journal, Journal of Management, Management Science, and Organization Science.

Education

  • Ph.D. Ph.D. in Management, Wharton School of Business, University of Pennsylvania, Philadelphia, PN/United States 1994
  • Master's MBA in Management, Wharton School of Business, University of Pennsylvania, Philadelphia, PN/United States 1988
  • Master's M.A. in Economics, Yale University, New Haven, CT 1988
  • Bachelor's B.A. (summa cum laude) in Economics and Mathematics, Yale Univeristy, New Haven, CT 1988