Abstract
While industries such as ICT and biotechnology have been characterized as high-velocity environments, in which demand, competition and technology are constantly changing, there has been little systematic empirical research focusing on the conceptualisation and operationalisation of strategy in such environments or its effect on performance. This article draws from industrial economics and the resource-based view to conceptualise strategy in high-velocity environments as a multi-dimensional construct. Additionally, the construct’s positive effect on business performance is empirically proven. The article closes with managerial implications and directions for further research.