Dynamic coordination and creative destruction : a comparative analysis of incumbent success and failure in the worldwide hard disk drive industry
Technological change displaces incumbent firms in many industries. The extant literature in economics and organizational theory identify many reasons for this displacement. Incumbents encounter significant technical uncertainty as a result of innovation. Incumbents' incentives can motivate them to protect existing assets, at the expense of aggressively pursuing a new technology. Internal decision processes within firms can also steer resources toward existing customers and markets, and away from potential future customers and markets.
"Technological change displaces incumbent firms in many industries. The extant literature in economics and organizational theory identify many reasons for this displacement. Incumbents encounter significant technical uncertainty as a result of innovation. Incumbents' incentives can motivate them to protect existing assets, at the expense of aggressively pursuing a new technology. Internal decision processes within firms can also steer resources toward existing customers and markets, and away from potential future customers and markets."@en
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Walter A. Haas School of Business (University of California, Berkeley)
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