Theories of innovation in management and marketing - Punctuated equilibrium theory
3 important questions on Theories of innovation in management and marketing - Punctuated equilibrium theory
What does the punctuated equilibrium build on?
Builds on the distinction between incremental and radical/disruptive innovation
How does the technology development occur?
- In long periods of relative stability and incremental change
- Short periods of radical innovation (and failures)
More characteristics of punctuated equilibrium theory
- Radical innovation is competence destroying
- Most competent firms (industry leaders) become inert to new technologies because they rely on well-
established mature technologies.
- They are reluctant to invest in new technology because they face the risk of destroying their own source
of income (cannibalization)
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