BUS 800 Study Guide - Final Guide: John Wiley & Sons, Ambidexterity, Organizational Ecology

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19 Apr 2017
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Chapter learning objectives: identify the key success factors associated with industries at different stages of their development and the strategies appropriate to different stages in the industry life cycle. During the introduction phase, the emphasis is on product innovation and marketing whereas during the growth phase the key to success is being able to scale up production efficiently and effectively. By the time a market reaches maturity, price competition tends to be intense and successful strategies involve cost efficiency through mass production and low input prices. In the decline phase, firms can still operate profitably if they can rationalize capacity in an orderly way, find protected market niches, or innovate. We have explored a number of different sources of organizational inertia, including competency traps, social and political systems, bounded rationality, and complex organizational configurations that act as barriers to change.