In the 1980s and 1990s,Neon Co.was the most successful firm in the television market.The firm believed that competitors would never be able to produce televisions comparable to its quality and cost.As a result,it was unable to respond to the new generations of television that Japanese competitors had begun to infiltrate the market with.Eventually,Neon lost its market leadership to its competitors.This is a typical example for the _____.

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The Icarus Paradox refers to a situation where a company becomes overly confident in their success and is unable to respond to changes in the market. This leads to their downfall as they are unable to adapt to changing circumstances. This is exactly what happened to Neon Co. as they believed that their competitors would never be able to match their quality and cost, and as a result, were unable to respond to new generations of televisions that Japanese competitors had introduced into the market.