23. Bang & Olufsen: Modulating Strategic Renewal Through Innovation and Organizational Design

by Giacomo Cattaneo, Lars Frederiksen, and Andrea Carugati

From an Incumbent Company’s Perspective

The history of Bang & Olufsen (B&O) started in Struer, a small village in the North of Denmark. In 1925 the two young engineers, Peter Bang and Svend Olufsen, pursued the dream of developing the perfect radio. Struggling in the first years to make a real profit, they did not falter in their determination—not even when saboteurs burnt down one of their early factories during World War II as they refused to collaborate with the Nazis. The persistence of the two young and undeterred engineers eventually paid off, and they built a company that evolved into ...

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