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Strategic choices in converging industries

Hacklin, Fredrik
Battistini, Boris
von Krogh, Georg
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Journal article with impact factor
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Publication Year
2013
Journal
MIT Sloan Management Review
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Publication Volume
55
Publication Issue
1
Publication Begin page
65
Publication End page
73
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Abstract
In the relentless evolution of technology and markets, many industries are in the midst of, or are approaching, major reconfigurations of their fundamental architectures and the way companies capture value.1 The changes are well underway in biopharma, nutrition products, health care and energy, where technologies and distinct knowledge bases are changing and converging. Perhaps the most dramatic example of such convergence is taking place in the booming space of telecommunications, information technology, media and entertainment, which many people now refer to as a single field, the “TIME” industries.2 The TIME industries are characterized not only by the variety of new technological products and services being launched at an ever-increasing pace but also by the surging complexity of their markets and how companies win. As some companies have expanded their scope, others have been forced to rethink and retool their strategies. In many ways, the TIME example offers a useful model for managers in other industries where convergence is less obvious.
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Entrepreneurship
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