Abstract
Firm survival considerably depends on the capacity of organizations to pursue growth, which in turn is achievable through innovation. The purpose of the paper then is to study how a firm is likely to sustain its growth through a series of innovation centered on the interactive process of action, resource and belief. Theoretically, we use the resource-based view and dominant logic to study the growth. Empirically, we adopt the single case study research while focusing on UMC for illustration. We show that UMC started with consumer ICs in 1980, then moved to memory IC and IDM in the late of 1980s, and recently transformed to become a professional manufacturer of foundry. The evolution of UMC, in general, paces the development of Taiwan’s semiconductor industry, and this path can be usefully understood as an interactive process of action, resource and belief. Implications for theory, research and practice are discussed.