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Room for a Thousand Flowers to Bloom

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1 Author(s)
Greenstein, Shane ; Kellog Graduate School of Management

Market value for nascent goods can be unknown for a number of reasons. It can be discovered only through market experience. Does concentrated commercial leadership or dispersed commercial leadership more efficaciously explore value? Concentrated or dispersed commercial leadership describes whether a small or large range of firms, respectively, can commercialize potential services and products for a similar, though uncertain, technological opportunity. Dispersed commercial leadership explores the unknown more quickly than concentrated leadership. Most new firms exploring a technological opportunity do not survive a market test. A wider variety of firms increases the chances that at least one will survive. Beyond selection, more dispersed commercial leadership has another, more subtle effect. It increases the likelihood that a so-called contrarian reaches the marketplace sooner. This effect can be readily visible if the contrarian quickly spurs innovative responses from established firms who otherwise would not have taken any action

Published in:

Micro, IEEE  (Volume:26 ,  Issue: 3 )