Market and industry structures are quite brittle.
One small scratch and they disintegrate, often fast.
Industry and market structures appear so solid that the people in an industry are likely to consider them foreordained, part of the order of nature, and certain to endure forever. A change in market or industry structure is a major opportunity for innovation. In industry structure, a change requires entrepreneurship from every member of the industry. It requires that each one ask anew: “What is our business?” And each of the members will have to give a different, but above all a new, answer to that question. Large, dominant producers and suppliers, having been successful and unchallenged for many years, ...
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