The purpose of this paper is to argue that the destiny of the firm is closely linked to the evolution of product class in the industry and show that product-class evolution is driven by the variation, retention and selection of dominant designs in the context of lumpy markets. The paper demonstrates that business strategy decisions cannot be undertaken without an intimate understanding of the relationship between the firm's technology trajectory and the opportunity space created by lumpiness in the market. The paper identifies where the major choices facing the executive team, and the processes they implement in response, significantly influence the scope direction and quality of technology strategy decisions.
McGrath, Rita, Michael Tushman, and Ian MacMillan. "The Role of Executive Team Actions in Shaping Dominant Designs: Towards the Strategic Shaping of Technological Progress." Strategic Management Journal 13 (Winter 1992): 137-51.
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