The intangible/intellectual resource “curse”: Symptoms and cures

This paper examines the limits of pragmatism in strategy formulation in the new, knowledge‐rich economy. By tracing the history of pragmatism in social and management thought, and assessing the commonalties and complementarities between a firm’s vision and mission, we explore the possibility and consequences of an intangible resource curse for firms pursuing strategies of incessant pragmatic growth in the expanding Web‐based domain. Ultimately, we posit a combined influence of market‐based governance and strategy simplification as an effective antidote to the executive intangible resource binging, which is sustainable as long as confidence and trust continue to be shared among the firm stakeholders.