By Enrico Valdani, Alessandro Arbore (auth.)
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Additional resources for Competitive Strategies: Managing the Present, Imagining the Future
This does not mean that innovative firms do not attempt to exploit their current capabilities or that they underestimate the possible reaction of the competition. They simply try to address the market while avoiding being conditioned by the common wisdom in that market. This is why the proactive firm is distinguished not only by its acumen and insight in searching out the sources of value for its customers, but also particularly by its ability to exploit this acumen and insight with passion. 7 Innovations that generated unorthodox maneuvers The Post-it Note is the outcome of a highly inventive approach to innovation adopted by the American firm 3M.
Firms organized as open systems develop only as a function of that which preceded them. This means that although there is continuity, there isn’t determinism in their evolutionary trajectory. As an example, think of AT&T and Western Union at the end of 1800s. These companies were competitors in the lucrative telegraphic market. In 1876, Western Union decided not to acquire the famous Bell patent, opting not to take advantage of the adjacent possibility offered by the telephone, an innovation then in its infancy and available only for local communications.
The word establishment comes from the Indo-European sta, referring to the concept of position, resistance, arrest, non-change. From this, all words such as stable, stasis, and static derive. Therefore, firms and institutions are born with an original sin: opposing the new, opposing change. In order to survive, firms must relearn the meaning of innovation, abandoning the search for stability. Otherwise, they will find themselves reliving their past. The winning team must change before the other teams do.
Competitive Strategies: Managing the Present, Imagining the Future by Enrico Valdani, Alessandro Arbore (auth.)