Chapter 1
Let us begin with a few actual stories to set the tone for the book. The first one is about a leading consumer brand whose managers were perpetually enamored by technological improvements they were making to the products in their portfolio. Not surprisingly, top management had also committed to substantial funds for improving the technology across the product line, a strategy that was well in line with the firm’s long-term vision established a few years earlier. Along the way, however, the marketplace underwent dramatic changes. The most significant of these was that the product category in which the company competed was itself increasingly replaced by a better, faster, and cheaper alternative. Despite ...
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