While radical technological change is often characterized as hazardous, particularly to incumbents, incremental technological change has appeared to be immune from such risks. Little attention has been given to the possibility that under some circumstances incremental technological change can be...

Why do successful organizations often move in new directions and then fail? We propose that this pattern is especially likely among organizations that have survived a history of competition. Such experience adapts organizations to their environment, through so-called "Red Queen" evolution, but...