The company was so successful at making and selling better drives than IBM that it was soon ready to challenge IBM in the mainframe business. When the company started to expand to mainframes, however, the balance between operational and innovative excellence was shattered. First, it focused on developing mainframes as well as optical storage drives — which the company believed would replace magnetic drives.
As it focused its resources on this innovation, it became less operationally excellent. For example, to meet demand, Storage Technology acquired parts from suppliers that did not meet specifications — with the result that Storage Technology products started to fail. While the company was scrambling to regroup operationally, IBM moved forward on the innovation side. Eventually, IBM won on both fronts: innovative and operational.
In Creative Destruction , the authors show how to build up the innovation side of your business — and how to balance innovation with operational excellence to avoid becoming one of the many companies so intent on continuing the present that they are unable to react to the future. As a result a lot of businesses … Expand. Milton Friedman once argued that profits are the chief purpose of business. Good firms bring innovation to the … Expand.
On one side is the legacy of the s, when investors became accustomed to double-digit annual growth. While investors are no doubt revising … Expand.
Profound change in the global business environment is foregrounding the need for new competitive strategies in organizations. The realization that success in the era of knowledge capitalism depends … Expand.
Patent litigation is a visible and widespread feature of the semiconductor industry, as firms pursue judicial mechanisms to defend, or promote, their intellectual property portfolios.
This study … Expand. NL EN. More about Organizational change Strategic planning Technological innovations Management. Vlerick Business School Open print view.
Reep 1 Gent View on Google Maps library vlerick. Kaplan, Sarah Edition: 1st ed. Publisher: New York N. Description: Xii, p. Bibliography: Includes bibliographical references p. The industries they examined included old-economy industries such as pulp and paper and chemicals, and new-economy industries like semiconductors and software.
The internet is perhaps the most all-encompassing example of creative destruction, where the losers were not only retail clerks and their employers but also bank tellers, secretaries, and travel agents. The mobile internet added many more losers, from taxi cab drivers to mapmakers. The winners, beyond the obvious example of programmers, might be just as numerous.
The entertainment industry was turned upside down by the internet, but its need for creative talent and product remains the same or greater. The internet destroyed many small businesses but created many new ones online. The point, as Schumpeter noted, is that an evolutionary process rewards improvements and innovations and punishes less efficient ways of organizing resources. The trend line is toward progress, growth, and higher standards of living overall.
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