The fourth industrial revolution (Industry 4.0) transformed global value chains by transforming them into adaptive networks of enterprises. To remain competitive, companies need to integrate themselves into these networks, which require increased flexibility in terms of reorganizing business...

This paper examines how a firm's choice of the type of experiment impacts on its potential exploitation of new technological opportunities. It does so in the context of the failure of successful firms (or disruption) where the literature has informally suggested that firms undertake errors in...