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Success trap
The success trap refers to business organizations that focus on the exploitation of their (historically successful) current business activities and as such neglect the need to explore new territory and enhance their long-term viability.〔March, J.G. (1991), ‘Exploration and exploitation in organizational learning’. Organization Science, vol. 2, 71–87.〕〔Levinthal, D.A. and March, J.G. (1993), ‘The myopia of learning’. Strategic Management Journal, vol. 14, 95–112.〕
==Overview==
The success trap arises when a firm overemphasizes exploitation investments, even if explorative investments are required for successful adaptation.〔〔 Exploitation draws on processes that serve to incrementally improve existing knowledge, while exploration involves the pursuit and acquisition of new knowledge.〔 Firms and other organizations that have been performing well over an extended period of time are exposed to strong path dependence in exploitative activities, at the cost of explorative activities with which they have little experience. For example, in the 1990s Polaroid’s management failed to respond to the transition from analogue to digital photography, although the rise of digital technology had been evident since the 1980s.〔Tripsas, M. and Gavetti, G. (2000), ‘Capabilities, cognition, and inertia: evidence from digital imaging’. Strategic Management Journal, vol. 21, 1147–61.〕 Other well-known examples of companies that got caught in the success trap include Kodak, Rubbermaid and Caterpillar.〔〔Adams, M. and Boike, D. (2004), ‘The PDMA foundation 2004 comparative performance assessment study’. Visions, 28, 26–9.〕〔Helfat, C.E., Finkelstein, S., Mitchell, W., Peteraf, M., Singh, H., Teece, D. and Winter, S.G. (2007), Dynamic Capabilities: Understanding Strategic Change in Organizations. Oxford: Blackwell.〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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