Ziff Corp.was a leading electronics firm for about three decades.As the competition changed,its product innovation stopped.The managers at Ziff Corp.are well aware of the strategies that lead to their company's success and they continue to follow the old strategies.This scenario is an example of _____.

Question

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This scenario is an example of competitive inertia which refers to a company's tendency to continue its current strategy even in the face of changing markets or competitive conditions. The managers at Ziff Corp. are continuing with their old strategies, despite the fact that the competition has changed and their product innovation has stopped. This inertia can lead to a decline in competitiveness and ultimately the failure of the business.

Ziff CorpWas a Leading Electronics Firm for About Three Decades