ADMS 1000 Lecture Notes - Lecture 9: Dominant Design, Market Concentration, Baby Food

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: paulette burgher

Document Summary

An inverted u-shaped growth pattern that is seen in almost all industries given a long enough period of observation. All industries evolve along particular trajectories and through specific phases from their early emergence and growth to their eventual maturity and decline. Unlike product life cycle which focuses on a single product or firm industry life-cycle model focuses on entire product category and its associated industry. New industries are highly fragmented (i. e. with many small competitor) New industries are characterized by experimentation and new technologies and business models. Many entrepreneurial firms enter the industry hoping to emerge as market leader in introductory phase. As the industry converge around a particular approach and this dominant model is adopted by everybody, the firms that do not conform to the emerging standard exit the industry during a shakeout. Appropriate management approaches needed to survive and grow: the introduction phase: industry emergence and creation.