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Chapter 1 Risk and Behavioral Patterns Among Startups and Incumbents 17 Why Size Matters 17 Behavioral Patterns 18 The Winner's Curse 23 The Risk-Tolerant Nature of Startups 27 RANDY KOMISAR ON THE CONTRAST BETWEEN STARTUPS AND INCUMBENTS 31 The Power of Complementary Assets in Technology Adoption and Organizational Viability 32 Strategy Based on Core Strengths 38 Chapter Summary 43 Chapter 2 Technology Value and Delivery Systems 45 Beyond a Better Mousetrap 45 Product Completeness and Modularity 47 The Technology Stack 48 Adopting a Layer-Based Platform Strategy 54 Modular Evolution and Stack Reintegration 61 Layer Encroachment 62 Layer Substitution and Platform Shifts 64 PETER MICCICHE ON MODULARITYAND TECHNOLOGY STACKS 66 Stack Implications for Technology Buyers 67 Chapter Summary 69 Chapter 3 Market Definition and Disruption 71 Gauging the Impact of Emerging Technology 71 Identifying Points of Leverage 72 LISE BUYER ON THE POINT OF PAIN 75 Identifying Levers of Innovation: The Classic Five Forces Model (Plus One) 76 Beyond the Static-Defining Market Spaces Dynamically Using the Three-Dimensional Model of Market and Business Definition 82 Evaluating the Potential Impact of Changes on the Technology Axis 86 Assessing Problem Size: Matching Reaction to Threat/Opportunity 89 The Role of Uncertainty in Innovation-Signal versus Noise 94 Chapter Summary 97 Chapter 4 An Introduction toTechnology Life Cycles andTheir Drivers 101 The Influence of Timing 101 Distinguishing Discontinuous from Incremental Change 104 Behavior, Technology Diffusion, and Adoption 105 The Role of Venture Capital in Industry Evolution 110 The Drivers of Venture Capital Investment 115 Corporate Venturing 117 JIM SAYRE ON CORPORATE VENTURING 120 Chapter Summary 121 Chapter 5 Innovators and Imitators 123 Who's on First? 123 First-Mover Advantage 124 CYNTHIA ROBBINS-ROTH ON PATENTS, IP, AND INNOVATORS 128 Accelerating Diffusion 129 Technology S Curves 134 Pricing and Demand for First Movers 135 Artificial Demand and Hype Cycles 139 Imitation and the Industry Life Cycle 141 Winning the Wrong Game 147 Chapter Summary 148 Chapter 6 Technology Enablers and Horizontal Supply 149 Thinking Horizontally 149 What Is Enabling Technology? 150 Design Competition, the Era of Ferment, and the Rise of Dominant Design 155 The S Curve and the Tornado 157 JIM BARTON ON TIVOLUTION AND COMPETITION 159 Can an Innovator Become a Toolmaker? 161 Second-Generation Threats 163 Decomposition and Modularity 165 Price Pressure and Cost Competition 168 Chapter Summary 169 Chapter 7 Incumbent Adoption and Influence 171 Watching for Change 171 A Matter of Choice 172 Handling Uncertainty 177 Incumbent Adoption and Bandwagon Pressure 180 Playing Favorites: Industry Shakeout 181 Consolidation Opportunities and Errors 184 ADAM FEIN ON INDUSTRY SHAKEOUTS AND LIFE CYCLE LESSONS FROM ONLINE EXCHANGES 186 Implications of Change for Small Incumbents 188 Finding a Niche 189 Pure Research 190 Entering the Era of Incremental Change 191 Predicting a Jump in S Curves 192 Ambidextrous Organizations 196 Chapter Summary 198 Chapter 8 Paths to Competitive Success 203 "Talk to the Hand": Is Competition Inevitable? 203 The Quest for Competitive Advantage 204 Outperforming 204 Uniqueness 209 MICHAEL SCHRAGE ON COMPETING ON TECHNOLOGY CAPABILITY 212 Sustainability 215 Is Competitive Advantage Necessary for Success? 218 Outperform or Outlive 218 Chapter Summary 220 Chapter 9 Technology and Traditional Sources of Competitive Advantage 223 Lemonade with a Twist 223 Cost-Based Strategies and the Role of Technology 224 CATHY BENKO ON TECHNOLOGYAND COMPETITIVENESS 235 Differentiation-Based Strategies and the Role of Technology 236 Choosing a Narrow or Broad Customer Target 241 Pursuing Low Cost and Differentiation 242 Chapter Summary 244 Chapter 10 Technology-Specific Sources of Competitive Advantage 245 A Triumph of Habit 245 Network Effects 247 Value Networks and Complements 255 Compatibility and Standards 256 Lock-In and Switching Costs 259 Platform Efficiencies 263 ANNABELLE GAWER ON PLATFORM LEVERAGE 266 Installed Base Leverage 269 Chapter Summary 272 Endnotes 275 Glossary 288 Index 295Library of Congress Subject Headings for this publication: Competition, Technological innovations Management, Technological innovations Economic aspects, Technology Economic aspects, Strategic planning, Industrial management