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ENT 725 (5)
Chapter 4

ENT 725 Chapter 4 Notes.docx

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Ryerson University
Entrepreneurship and Strategy
ENT 725
Phil Walsh

ENT 725 Chapter 4 Notes Standards Battles and Design Dominance A Dominant Design is a single product or process architecture that dominates a product category usually 50 or more of the market Why Dominant Designs are Selected One main reason is because industries exhibit increasing returns to adoption the more the technology is adopted the more valuable it becomes Two primary sources of increasing returns learning effects network externalities Learning Effects The more a technology is used the more it is developed and the more the effective and efficient it becomes As individuals and producers repeat a process they learn to make it more efficient often producing new technological solutions that may enable them to reduce input costs or waste rates Diagram on page 36 Prior Learning and Absorptive Capacity A firms Prior Learning shapes its ability to recognize the value of new information and to utilize that inform
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