Value is created through innovation, but how much of that value accrues to the innovator depends partly on how quickly their competitors imitate the innovation. Innovators must deter competition to get some of the value they created. These ways of deterring competition are called, in various contexts, barriers to entry, sustainable competitive advantages, or, colloquially, moats. […]
Innovation
iTunes Case: Technological Innovation
Ralph Waldo Emerson reportedly once said “If a man can…make a better mouse trap than his neighbors, though he builds his house in the woods, the world will make a beaten path to his door.”1 Every engineer fervently wishes this were true. It is not. The success of any interesting product is not just a function of […]