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Industrial Space

In: The Cosmos Economy

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  • Jack Gregg

Abstract

Adapting to new markets is not a simple undertaking. Harvard Business School Professor Clayton M. Christensen (1952–2020) famously noted in The Innovator’s Dilemma (1997) that well-meaning companies could stumble and fail to innovate in a rapidly changing business environment by doing two wrong things even though these things are widely taught as right things in leading business schools. They are (1) listening to their best customers and taking their advice for product feedback and improvement suggestions and (2) focusing investments on innovative initiatives that promise to deliver the highest immediate returns. Christensen argued that both long-standing B-School tropes could spell disaster by perpetuating the current product and customer base instead of seeking ways to serve the future market. He insisted that instead of getting comfortable feedback from current customers who reinforce the old way of doing business it is best to seek out new input from the leading fringe of the market.

Suggested Citation

  • Jack Gregg, 2021. "Industrial Space," Springer Books, in: The Cosmos Economy, chapter 26, pages 215-222, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-62569-6_26
    DOI: 10.1007/978-3-030-62569-6_26
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