Abstract:

This paper presents a model for understanding how markets can be created in the space of market recognition. In an earlier paper, the authors suggested the failure of incumbent firms in the face of a disruption can be ascribed to three broad causes: a failure to see the disruption, a failure to act upon it by developing radical products, and a failure to successfully launch these radical products. This paper focuses on the first two causes: See and Act, and proposes an alternative, 'organic' view of see and act that integrates them into a continuous process of market creation.