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...

Considerable attention goes to whether there is a "first-mover advantage" among organizations. Technical mechanisms have been considered for this advantage, such as learning and occupancy of preferred market segments. We argue that first movers may also benefit from a social identity advantage...