Mova Electronics,a Leading Pager Manufacturer,recently Declared Itself Bankrupt

Mova Electronics,a leading pager manufacturer,recently declared itself bankrupt.This was attributed to a decision the company made in the past.While most of Mova's competitors were shifting their research focus toward cell phones,Mova invested most of its retained earnings on improvising its pagers.Once the pager market drastically declined,Mova Electronics was unable to capitalize on the new technology.Which of the following does this scenario best illustrate?

A) causal ambiguity
B) knowledge diffusion
C) social complexity
D) path dependence