Competition traps are common situations across industries where players become locked in intense and ineffective competitive positions leading to negative outcomes for everyone involved. This article summarizes the insights of the previously disconnected streams of literature, distinguishing five broad types of traps: cognitive, price, disruptive, platform, and internal competition traps. The article outlines the mechanisms behind each type of trap and negative impacts they can have for the companies and industries. The study concludes by providing evidence-based managerial advice about avoiding the various competition traps, enabling the companies to achieve sustainable growth and success.
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Oleksiy Osiyevskyy
University of Calgary, Canada
Oleksiy Osiyevskyy is an Associate Professor of Entrepreneurship & Innovation at the Haskayne School of Business, University of Calgary, where he also serves as the MBA program director. Oleksiy leads the Global Business Futures Initiative, an emerging thought...
Liudmyla Shevchenko
Yaroslav Mudryi National Law University, Ukraine
Liudmyla Shevchenko is a professor of the Economic Theory Department at the Yaroslav Mudryi National Law University in the city of Kharkiv (Ukraine). Liudmyla is an academic advisor (guarantor) of the Business Economics educational program for training professional...
Olga Marchenko
Yaroslav Mudryi National Law University, Ukraine
Olha Marchenko is a professor of the Economic Theory Department at Yaroslav Mudryi National Law University in Kharkiv (Ukraine). Olha is an academic advisor (guarantor) of the educational program Business Consulting for the preparation of Masters in economics, which...
Yurii Umantsiv
State University of Trade and Economics, Kyiv, Ukraine
Yurii Umantsiv is the head of the Department of Economics and Competition Policy of the State University of Trade and Economics, where he is also the guarantor of the second-level higher education program «Antitrust Management». In his research, Yurii focuses on the...
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