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How do firms cope with the challenges of disruptive change in their industry? Numerous studies have highlighted that success with any prior technology creates a negative legacy effect for the next radical technological shift. The authors question the overly pessimistic view of such legacy effects and ask how quickly firms embrace technological breakthroughs by radically innovating and who wins in the longer term? In this paper, they argue that legacy is a multi-faceted construct whose diverse aspects could simultaneously have different effects on innovation speed and market performance.
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