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Lecture 5

Week 5 - Competitive & Technological Context.docx

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Department
Administrative Studies
Course
ADMS 1000
Professor
Eytan Lasry
Semester
Fall

Description
ADMS 1000 October 8, 2013 WEEK 5:  COMPETITIVE & TECHNOLOGICAL CONTEXT Lifecycle • 1 - Emergence o Characteristics of the emergence phase:  Low intra-industry rivalry  Intense R&D  Slow growth  Organic structures o Cognitive legitimacy: people must be convinced of the concept and why they should choose you vs. others • 2 - Shakeout / Growth o The growth stage begins once there is convergence around a dominant design or technical standard o Organizations whose approach does not conform to the dominant model either change or exit during a shakeout • 3 - Maturity o Market growth begins to slow down; very little entry and rivalry becomes fierce among remaining firms o Market concentration increases with more exits and acquisitions o Products become commoditized and undifferentiated and innovations are incremental and process improvements • 4 – Decline o Industries begin to decline as a result of changes in:  Demographics (e.g. baby food in the 1960s)  Consumer needs/tastes (e.g. cigarettes)  Technology (e.g. typewriters, VCRs) o Firms can pursue different strategies to cope: ADMS 1000 October 8, 2013  Maintain industry leadership  Target niche markets  Harvest profits  Exit early  Consolidate the remaining industry players • Main drivers of industry evolution: o Demand growth o Creation/diffusion of tech and knowledge Stage Introduction Growth Maturity Decline Characteristic Market Growth Slow Very rapid Moderate Negative Niche markets, Price conscious Late adopters, Affluent, early
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