Notes

Chapter 1: Your Strategy Playbook Has Expired

1. Noon, C. (2007). Nokia’s Kallasvuo puts brave face on iPhone. Forbes, February, 12. Retrieved from http://www.forbes.com/2007/02/12/nokia-kallasvuo-iphone-faces-cx_cn_0212autofacescan01.html#

2. Linden, C. G. (2016). Nokian valtakunta. Raportti hulluilta vuosilta [Nokia’s kingdom. A report from the crazy years]. Helsinki, Finland: Gaudeamus.

3. Because we see the story very much as a tale of two markets, we have superimposed this structure on the timeline below: a rise through the 2G market, decelerating climb through the transition period when 2G and 3G coexisted, and eventual nosedive in the 3G market. But the account remains faithful to the chronology.

4. Troianovski, A. (2012). Nokia had jump on Apple with tablet, smartphone prototypes. Wall Street Journal, July 19. Retrieved from http://www.theaustralian.com.au/business/wall-street-journal/nokia-had-jump-on-apple-with-tablet-smartphone-prototypes/story-fnay3ubk-1226430228129#

5. According to the Gartner’s full-year statistics (http://www.gartner.com/newsroom/id/612207). However, in Q4/2007, Nokia global market share, also according to Gartner, was 40.4%, and some sources even report higher market share figures (upper 40s) for 2007.

6. A recent study published in Administrative Science Quarterly claims that one of the issue that led to Nokia’s demise was fear. Top managers were afraid of external competitors and shareholders, while middle managers were mainly afraid of internal groups, including superiors and peers. Vuori, T. O., & Huy, Q. N. (2016). Distributed attention and shared emotions in the innovation process: How nokia lost the smartphone battle. Administrative Science Quarterly, 61(1), 9–51.

7. Professor Yvez Doz has been following the Nokia saga for many years, and recently published a book on the subject, called Ringtone: Exploring the rise and fall of Nokia in Mobile Phones. The book identifies a number of reasons for the fall. Some examples: the dominant market share led to arrogance and less risk-taking, Nokia created too many products, an organizational matrix put in place in 2004 left no strong arbitration to determine where resources should have been prioritized. See also Bedhall, R. (2017). The rise and fall of Nokia Mobile Phones. Finland Today. Retrieved from http://finlandtoday.fi/the-rise-andfall-of-nokia-mobile-phones/. Accessed on December 5.

8. Gartner quantity market shares.

9. It seems that the famous “Burning platform” memo wasn’t technically a memo but a speech given by Stephen Elop which was later turned into an internal blog post. Arthur, C. (2011). Nokia’s chief executive to staff: ‘We are standing on a burning platform’. The Guardian. Retrieved from https://www.theguardian.com/technology/blog/2011/feb/09/nokia-burning-platform-memo-elop. Accessed on February 9.

10. This playbook is called “classical” by Reeves, M., Haanaes, K., & Sinha, J. (2015). Your strategy needs a strategy. Boston, MA: Harvard Business Review Press.

11. Hawkins, A. J. (2016). Uber is trying to make you forget that surge pricing exists. The Verge, June 23. Retrieved from http://www.theverge.com/2016/6/23/12017002/uber-surge-pricing-upfront-fare-app-update-announcement

12. Knight, S. (2016). How Uber conquered London. The Guardian, April 27. Retrieved from https://www.theguardian.com/technology/2016/apr/27/how-uber-conquered-london.

13. Zhang, S., & Shih, G. (2015). Uber seen reaching $10.8 billion in bookings in 2015: Fundraising presentation. Reuters, August 21. Retrieved from http://www.reuters.com/article/us-uber-tech-fundraising-idUSKCN0QQ0G320150821.

14. Newcomer, E. (2015). Uber draws fresh comparison with Amazon as growth trumps profit. Live Mint, July 1. Retrieved from http://www.livemint.com/Companies/Lw0nxWkxbt8Bv9UPEyG1BP/Uber-draws-fresh-comparison-with-Amazon-as-growth-trumps-pro.html.

15. Bershidsky, L. (2016). Uber needs an $11 Billion war chest. Bloomberg View, June 2. Retrieved from http://www.bloomberg.com/view/articles/2016-06-02/uber-needs-an-11-billion-war-chest.

16. Goddin, P. (2015). Uber’s plan for self-driving cars bigger than its taxi disruption. Mobility Lab, August 18. Retrieved from http://mobilitylab.org/2015/08/18/ubers-plan-for-self-driving-cars-bigger-than-its-taxi-disruption/.

17. Liberatore, S. (2016). Uber drivers, beware: Taxi app tests self-driving car in Pittsburgh that could put all of its ‘contractors’ out of work. Daily Mail, May 19. Retrieved from http://www.dailymail.co.uk/sciencetech/article-3599338/Uber-s-self-driving-car-revealed-pictures-autonomous-Ford-Fusion-cars-tested-Pittsburgh.html#ixzz4pGOHJbCw.

18. Fairchild, C. (2015). Uber needs a crash course in crisis management. Linkedin, March 18. Retrieved from https://www.linkedin.com/pulse/uber-needs-crash-course-crisis-management-caroline-fairchild.

19. Chrisafis, A. (2016). France hit by day of protest as security forces fire teargas at taxi strike. The Guardian, January 26. Retrieved from https://www.theguardian.com/world/2016/jan/26/french-taxi-drivers-block-paris-roads-in-uber-protest.

20. Knight, S. (2016). How Uber conquered London. The Guardian, April 27. Retrieved from https://www.theguardian.com/technology/2016/apr/27/how-uber-conquered-london.

21. North, D. C. (1977). Markets and other allocation systems in history: The challenge of Karl Polanyi. Journal of European Economic History, 6(3), 703.

22. Mele, C., Pels, J., & Storbacka, K. (2015). A holistic market conceptualization. Journal of the Academy of Marketing Science, 43(1), 100–114.

23. Baghai, M., Smit, S., & Viguerie, S. P. (2007). The granularity of growth. The McKinsey Quarterly, 2, 41–51.

24. In Lady Windermere’s Fan, Oscar Wilde had Lord Darlington quip that a cynic was “a man who knows the price of everything and the value of nothing.”

25. Political economy and especially Marxian economics propose also other aspects of value such as “labour value” to complement exchange value and use value.

26. Zenger, T. (2013). Strategy: The uniqueness challenge. Harvard Business Review, 91(11), 52–58.

27. See, for example, Lambkin, M., & Day, G. S. (1989). Evolutionary processes in competitive markets: Beyond the product life cycle. Journal of Marketing, 4–20.

28. Burgelman, R. A. (2003). Intel beyond 2003: Looking for its third act. Teaching Note No. SM-106. Stanford Graduate School of Business.

29. See Slater, S. F., & Narver, J. C. (1995). Market orientation and the learning organization. Journal of Marketing, 63–74; and Narver, J. C., Slater, S. F., & MacLachlan, D. L. (2004). Responsive and proactive market orientation and new-product success. Journal of Product Innovation Management, 21(5), 334–347.

30. As Daniel Kahneman points out, we humans are susceptible to WYSIATI: what You See It All There Is. If you focus on the product, your entire reality becomes the product – it is just how brain is configured. See Kahneman, D. (2011). Thinking, fast and slow. New York, NY: Farrar, Straus and Giroux.

31. Why would anyone think markets were not at least partly social? Clearly, markets involve human beings – even though increasingly computers are taking over a human role such as in making automatic trades when the stock hits a certain level. To posit that markets are not socially constructed seems to entail saying that the human agents are merely vehicles for market forces and drives, notably self-interest; and for laws like the canonical but under-specified law of supply and demand, which are supposedly universal and immutable like the laws of nature. So people in markets do not act “socially,” that is, in concert in any way beyond working out these forces, nor are they distracted from them by other agendas.

It is easy to slip into this depersonalized view because our modern economic idiom has embedded it as an article of faith, an almost mystical metanarrative supported by the mathematical abstractions about homo economicus: the very terms “The Market” and “market forces” and expressions like “The market has spoken.” Yet this leaves much unexplained. Consider differences across time and space in tastes, or in what is valued (the Spanish lust for gold left the Incas mystified, the modern fetish for phone paraphernalia would have looked as odd to the nineteenth century English as their craze for Dutch tulips), or whether commerce itself is exalted or looked on as base. And the law of supply and demand is so pitted with exceptions that it is arguably as close to human legislation as to natural physical laws. If the nature of markets looks inevitable, it is only ever in hindsight – as with the market for gasoline-powered autos in our worked example below, which in fact nearly missed out on winning the social acceptance and legitimacy that we have taken as natural for the last 75 years. Were markets truly inevitable, we should have less difficulty predicting them and face fewer surprises. Besides, if the objection is that a social explanation is not scientific enough, the science and mathematics behind complex systems theory rebuts that.

While certain forces do pretty consistently drive human behavior, and thwarting them can be like trying to turn back the tide, nonetheless to totally deny a socially constructed element to markets greatly overstates the case. It reminds us of Margaret Thatcher’s dictum that there is no such thing as society itself. It also entails saying that social activities themselves cannot be driven by forces either; yet try taking the drive for self-interest out of that most social of activities, politics, for example.

32. For more on the transient nature of competitive advantage, please see McGrath, R. G. (2013). The end of competitive advantage: How to keep your strategy moving as fast as your business. Boston, MA: Harvard Business Review Press.

33. As barrier-building competitive strategies are no longer the key to success, the traditional metaphors from war and sports should be avoided. This means less of competing, dominating, penetrating, targeting, attacking, frontlines, winning, and other confrontational words. The analogy to look for is art. Consider, for instance, performing arts. In her HBR blog in 2011, Joan Magretta crystallizes this idea: “There can be many good singers or actors — each outstanding and successful in a distinctive way. Each finds and creates an audience. The more good performers there are, the more audiences grow and the arts flourish. This approach produces positive sum competition. Companies that do a good job can earn sustainable returns because they create more value. At the same time, customers benefit by getting real choice in how their needs are met.” Magretta, J. (2011). Stop competing to be the best. Harvard Business Review, Blog Network. Retrieved from http://blogs.hbr.org/cs/2011/11/stop_competing_to_be_the_best.html.

34. Reeves, M., Haanaes, K., & Sinha, J. (2015). Your strategy needs a strategy. Boston, MA: Harvard Business Review Press.

35. Urry, J. (2004). The ‘system’ of automobility. Theory, Culture & Society, 21(4–5), 25–39.

36. We have been informed by the work of our good friend and colleague, Dr. Hans Kjellberg, who has been focusing on creating a better understanding of how markets work. Together with Dr. Claes-Fredrik Helgesson, they have proposed a framework based on practice theory that conceives markets as constituted by market practices, defined as all activities that contribute to constitute markets. They identify three categories of market practice: “(1) exchange practice, the concrete activities involved in consummating individual economic exchanges of goods; (2) normalizing practice, activities that contribute to establish normative objectives for actors, i.e., how a market and/or its actors should be (re)shaped according to some (group of) actor(s); and (3) representational practice, activities that re-present economic exchanges as markets, i.e. that depict markets and/or how they work”. Kjellberg, H., & Helgesson, C. F. (2006). Multiple versions of markets: Multiplicity and performativity in market practice. Industrial Marketing Management, 35(7), 839–855.

37. Baron, D. P. (1995). The nonmarket strategy system. Sloan Management Review, 37(1), 73.

38. Agarwal, R., & Bayus, B. L. (2002). The market evolution and sales takeoff of product innovations. Management Science, 48(8), 1024–1041.

39. Cochoy, F. (2009). Driving a shopping cart from STS to business, and the other way round: On the introduction of shopping carts in American grocery stores (1936–1959). Organization, 16(1), 31–55.

Chapter 2: Frame Your Market

1. Hess, E. D. (2014). Learn or die: Using science to build a leading-edge learning organization. New York, NY: Columbia University Press.

2. UPS (n.d.). History timeline: Explore 100+ years of UPS innovation and growth using our interactive timeline. Retrieved from https://www.pressroom.ups.com/pressroom/about/HistoryStackList.page?countrylang=US-English.

3. Laurie, D. L., Doz, Y. L., & Sheer, C. P. (2006). Creating new growth platforms. Harvard Business Review, 84(5), 80–90.

4. KONE Corporation (n.d.). http://www.kone.com/en/company/

5. Morgan, J. (2017). Kone on the benefits of People FlowIntelligence. ConstructionWeekOnline.com, February 18. Retrieved from http://www.constructionweekonline.com/article-43100-kone-on-the-benefits-of-people-flow-intelligence/.

6. Storbacka, K., & Nenonen, S. (2011). Scripting markets: From value propositions to market propositions. Industrial Marketing Management, 40(2), 255–266.

7. There is an irony in the fact that Nokia’s slogan was “Connecting People.”

8. Vectia Ltd, the consulting company in which we both were partners, conducted an exploratory research on market-shaping strategies in 2011. In this research, we studied the business definitions of the 100 largest Finnish commercial organizations. The data was collected through phone and F2F interviews, the respondents were CEOs or other relevant members of the executive management team, and we got answers from 59 organizations. In this sample, most respondents defined their business according to one (56%) or two (31%) criteria. The most commonly used criteria are the product/service sold (85%) and geographical area (81%).

9. Levitt, T. (1960). Marketing myopia. Harvard Business Review, 38(4), 45–56.

10. Ansoff, I. (1957). Strategies for diversification. Harvard Business Review, 35(5), 113–124.

11. The late Richard Normann called products and services “frozen knowledge.” He claimed that particularly tangible products are an efficient media to make providers’ knowledge and resources available to customers because of their reproductability and predictability. For more on “frozen knowledge” and Richard Normann’s other ideas about reconfiguring business systems, please see Normann, R. (2001). Reframing business: When the map changes the landscape. Chichester: Wiley.

12. The late Paul Geroski has researched the nature of markets in detail, and especially the more creative market definitions. See, for example, Geroski, P. A. (1998). Thinking creatively about markets. International Journal of Industrial Organization, 16(6), 677–695; Christensen, C. M., Cook, S., & Hall, T. (2005). Marketing malpractice. Harvard Business Review, 83(12), 74–83; Levitt, T. (1960). Marketing myopia. Harvard Business Review, 38(4), 24–47.

13. When you progress to market shaping in Chapter 3, you’ll spot some of these terms repeating, notably “network” and “system.” This is not surprising, since the business definition is negotiated in that recursive dialogue with the market view and acts as a microcosm of it. The network we examine here shares one of the same elements as the network layer of the Fan examined in Chapter 3: actors.

14. Source: Business Week (2006). July 17.

15. Garrett, M. (Ed.). (2014). Encyclopedia of transportation: Social science and policy. Thousand Oaks, CA: SAGE Publications.

16. www.jcdecaux.com and Normann, R. (2001). Reframing business: When the map changes the landscape. Chichester: Wiley.

17. Skanska, IKEA, BoKlok, speech by Susanna Sucksdorff, Business Development Manager in Skanska RDN Finland in 2013.

18. Bower, J. L. (2012). Sam Palmisano’s transformation of IBM. Harvard Business Review, January 20. Retrieved from https://hbr.org/2012/01/sam-palmisanos-transformation.html; IBM (2008). Annual Report 2007. Retrieved from ftp://public.dhe.ibm.com/annualreport/2007/2007_ibm_annual.pdf; and van Kralingen, B. (2010). IBM’s transformation – From survival to success. Forbes, July 7. Retrieved from https://www.forbes.com/2010/07/07/ibm-transformation-lessons-leadership-managing-change.html.

19. Singleton, M. (2016). Tidal now has 3 million subscribers. The Verge, March 29. Retrieved from http://www.theverge.com/2016/3/29/11325608/tidal-now-has-3-million-subscribers.

20. Singer, N. (2014). Intel’s sharp-eyed social scientist. The New York Times, February 16. Retrieved from https://www.nytimes.com/2014/02/16/technology/intels-sharp-eyed-social-scientist.html.

21. Bright Horizons (n.d.). https://www.brighthorizons.com/about-us.

22. Cyriac, J., Koller, T., & Thomsen, J. (2012). Testing the limits of diversification. The McKinsey Quarterly, 2–5.

23. Favaro, K. (2014a). The dangers of adjacencies strategy. Strategy+Business, January 30. Retrieved from https://www.strategy-business.com/blog/The-Dangers-of-Adjacencies-Strategy?gko=04eeb, Favaro, K. (2014b). How IKEA, Disney, and Berkshire Hathaway succeed with adjacencies. Strategy+Business, March 11. Retrieved from https://www.strategy-business.com/blog/How-IKEA-Disney-and-Berkshire-Hathaway-Succeed-with-Adjacencies?gko=fa07c.

24. Storbacka, K., & Nenonen, S. (2012). Competitive arena mapping: Market innovation using morphological analysis in business markets. Journal of Business-to-Business Marketing, 19(3), 183–215.

25. Scientifically we are talking about multidimensional inquiry, i.e., morphological analysis (see Ritchey, T. (2006). Problem structuring using computer-aided morphological analysis. Journal of the Operational Research Society, 57(7), 792–801.). Morphological analysis (MA) is a method for structuring sociotechnical systems pioneered by Fritz Zwicky. He used MA as a method for investigating the totality of relationships contained in multidimensional, usually non-quantifiable complex problems (Zwicky, F. (1969). Discovery, invention, research through the morphological analysis. New York, NY: McMillan.)

26. Zook and Allen have been doing systematic work in helping companies to use growth opportunities provided by adjacency moves; see for example: Zook, C., & Allen, J. (2003). Growth outside the core. Harvard Business Review, 81(12), 66–73.

27. http://en.wikipedia.org/wiki/The_Fox_and_the_Cat_(fable)

28. Based on the speech by Martin Cole, then COO of Starbucks, at the Strategic Management Society’s annual conference in San Diego in 2007.

Chapter 3: Shape Your Market

1. Gittleson, K. (2012). Can a company live forever? BBC News, January 19. Retrieved from http://www.bbc.com/news/business-16611040.

2. Case description partly based on speeches by Matti Mikkola, CEO, Federation of the Finnish Woodworking Industries: “Shaping the market for wooden multistorey buildings – Case Stora Enso” (June 13, 2017) and Mikko Viljakainen, CEO, Puuinfo: “Three market shaping tools” (June 15, 2017). (Finnish Forest Industries. (2010a). Modernisation of fire safety regulations supports the development of Finland’s wood construction industry. Press release, December 2. Retrieved from https://www.forestindustries.fi/releases/modernisation-of-fire-safety-regulations-supports-the-development-of-finlands-wood-construction-industry/. Finnish Forest Industries (2010b). Common dimensioning system to strengthen the competitiveness of wood construction. Press release, October 6. Retrieved from https://www.forestindustries.fi/news/common-dimensioning-system-to-strengthen-the-competitiveness-of-wood-construction/ Ministry of Employment and the Economy, Finland. (2011). Status and possibilities of wood construction in Finland. Retrieved from https://tem.fi/documents/1410877/2937056/Status+and+possibilities+of+wood+construction+in+Finland; Stora Enso. (2014). SRV and Stora Enso partner up to build multi-storey wooden residential housing for City of Helsinki. Press release, May 6. Retrieved from http://buildingandliving.storaenso.com/news/news-and-press-releases/srv-and-stora-enso-partner-up-to-build-multi-storey-wooden-residential-housing-for-city-of-helsinki).

3. Kafafi, Z. H., Martín-Palma, R. J., Nogueira, A. F., O’Carroll, D. M., Pietron, J. J., Samuel, I. D., … Tsakalakos, L. (2015). The role of photonics in energy. Journal of Photonics for Energy, 5(1), 050997-050997. Retrieved from http://photonicsforenergy.spiedigitallibrary.org/article.aspx?articleid=2463108.

See also: https://commons.wikimedia.org/wiki/File:PV_cume_semi_log_chart_2014_estimate.svg.

4. Vazquez Sampere, J. P. (2016). Apple’s shrinking impact in the smartphone industry. Harvard Business Review, February 2. Retrieved from https://hbr.org/2016/02/apples-shrinking-impact-in-the-smartphone-industry.

5. Benner, K. (2016). Apple says sales of iPhones have slowed. The New York Times, January 26. Retrieved from http://www.nytimes.com/2016/01/27/technology/apple-earnings-iphone-sales.html?_r=0.

6. Fox, J. (2014). How to succeed in business by bundling – and unbundling. Harvard Business Review, June 24. Retrieved from https://hbr.org/2014/06/how-to-succeed-in-business-by-bundling-and-unbundling.

7. Air Transport Action Group. (2014). Aviation benefits beyond borders. Powering global economic growth, employment, trade links, tourism and support for sustainable development through air transport. Retrieved from http://aviationbenefits.org/media/26786/ATAG__AviationBenefits2014_FULL_LowRes.pdf.

8. BreadTalk (n.d.). Retrieved from http://www.breadtalk.com.sg/; Asia, R. (2016). The evolution of BreadTalk Singapore through the years. Retail News Asia, September 22. Retrieved from https://www.retailnews.asia/evolution-breadtalk-singapore-years/. http://www.breadtalk.com.sg/

9. Fondia (n.d.). http://www.fondia.com/services/ldaas

10. Roth, A. E. (2007). The art of designing markets. Harvard Business Review, 85(10), 118.

11. Statistics New Zealand. (2013). Census QuickStats about housing. Retrieved from http://www.stats.govt.nz/Census/2013-census/profile-and-summary-reports/quickstats-about-housing.

12. Gary, L. (2005). Dow Corning’s big pricing gamble. Harvard Business School Working Knowledge, July 3. Retrieved from http://hbswk.hbs.edu/archive/4677.html.

13. FRANK by OCBC (n.d.). https://www.frankbyocbc.com/

14. Pilcher, J. (2011). Meet FRANK, maybe the coolest bank Gen-Y has ever seen. The Financial Brand, May 31. Retrieved from https://thefinancialbrand.com/18642/ocbc-frank-gen-y-banking-brand/.

15. Yeo, R. (2016). FRANK by OCBC – The future of consumer banking to millennials. Case S/N 88-16-010. The Nanyang Technopreneurship Case Centre (NTCC) at the Nanyang Technological University. Retrieved from http://www.ntc.ntu.edu.sg/ntcc/Documents/Full%20Version/10.%20FRANK%20BY%20OCBC%20-%20THE%20FUTURE%20OF%20CONSUMER%20BANKING%20TO%20MILLENNIALS.pdf.

16. A word about terminology. As we note elsewhere, the Fan is not something you can walk out onto the street and see, but rather a conceptual representation of a complex system, the market. We therefore stipulate certain terms of art to mean somewhat specialized things, and both the terms and the real-world things they reference may actually or apparently overlap between and within layers.

Thus, the word “network” is loosely synonymous with “system” in general parlance, and the description we’ve given of the network layer might at first sound as though it is co-extensive with the whole market system. But, like a color filter in photography, the Network layer picks out only elements of a certain hue: actors (with their roles and resources) and infrastructure. In the process, it abstracts from the other vital components of the market system, which have their own, different colors: language (dealt with in the Representations layer); the rules of the game (dealt with under Rules of the Game); and what items and rights are exchanged, how and with what pricing logic (Exchange).

Also, note that our use of “infrastructure” is not synonymous with “network” (or for that matter “system”): infrastructure excludes people. Meanwhile, note that the actors listed in the Network influence other layers. For instance, media clearly engage in Representations, while regulators impose Rules of the Game. But the Network layer collects those actors here for conceptual convenience.

17. This method of picturing one’s wider business network is heavily influenced by the work done in the IMP (Industrial Marketing & Purchasing) Group, and particularly by the ARA (Actors-Resources-Activities) model by Håkan Håkansson and Ivan Snehota. For an overview of the ARA model and other things related to business-to-business relationships, please see Snehota, I., & Hakansson, H. (Eds.). (1995). Developing relationships in business networks. London: Routledge.

18. Ferdows, K., Lewis, M. A., & Machuca, J. A. (2004). Rapid-fire fulfillment. Harvard Business Review, 82(11), 104–117; Smith, K. (2014). Zara vs H&M – Who’s in the global lead? Edited, April 15. Retrieved from https://edited.com/blog/2014/04/zara-vs-hm-whos-in-the-global-lead/; and Verma, M. (2007). H&M vs Zara: Competitive growth strategies. Case study COM0196P. Retrieved from http://www.ibscdc.org/Case_Studies/Strategy/Competitive%20Strategies/COM0196P.htm.

19. International SOS (n.d.). https://www.internationalsos.com/; https://www.internationalsos.com/about-us/philosophy-and-values; https://en.wikipedia.org/wiki/International_SOS

20. Agarwal, R., & Bayus, B. L. (2002). The market evolution and sales takeoff of product innovations. Management Science, 48(8), 1024–1041.

21. Press, G. (2016). From IBM mainframe users group to Apple ‘Welcome IBM. Seriously’: This week In tech history. Forbes. Retrieved from https://www.forbes.com/sites/gilpress/2016/08/21/from-ibm-ainframe-users-group-to-apple-welcome-ibm-seriously-this-week-in-tech-history/#7290b873beb4. Accessed on August 9.

22. Aspers, P. (2009). How are markets made? MPIfG Working Paper No. 09/2.

23. Fair Dinkum (n.d.). http://www.fairdinkumsheds.com.au/; http://www.fairdinkumsheds.com.au/about-us-0

24. Fonterra Food Services (n.d.). http://www.fonterrafoodservices.net/en/cn/home; http://www.fonterrafoodservices.net/en/cn/news/10; http://www.fonterrafoodservices.net/en/cn/news/15

25. Hubject (n.d.). https://www.hubject.com/en/

26. Wärtsilä (n.d.). https://www.wartsila.com/twentyfour7/gas/small-carriers-diversify-the-lng-fleet

27. Hindustan Unilever Limited (n.d.). Enhancing livelihoods through Project Shakti. Retrieved from https://www.hul.co.in/sustainable-living/case-studies/enhancing-livelihoods-through-project-shakti.html and Bhasin, K. (2012). Unilever now has an army of 50,000 ‘Shakti Women’ selling its products in India. Business Insider, July 3. Retrieved from http://www.businessinsider.com/unilevers-shakti-women-fight-pg-in-india-2012-7?r=US&IR=T&IR=T.

28. Sealed Air Corporation (1960).

29. Dempster Brothers (1936).

30. Universal Fastener Company (1917).

31. Otis (1900).

32. Arnott, S. (2010). International SOS: How to avoid turning a crisis into a drama. Independent. Retrieved from http://www.independent.co.uk/news/business/analysis-and-features/international-sos-how-to-avoid-turning-a-crisis-into-a-drama-1957327.html. Accessed on April 28.

33. Wise, T. A. (1960). The auditors have arrived. Fortune Magazine, 62(5).

34. Water Footprint Network (n.d.). http://waterfootprint.org/en/

35. NORD National Organization for Rare Disorders (n.d.). https://rarediseases.org/

36. Chesire, T. (2012). Europe’s 100 hottest startups 2012: Stockholm. Wired, August 15. Retrieved from http://www.wired.co.uk/article/stockholm-3.

37. Forrester. (2008). Electronic invoice presentment and payment market in the Forrester Wave: Accounts payable EIPP. Q2 2008 Report, published June 18 and Basware Plc. (2008). Interim report January 1–June 30. Retrieved from https://www.basware.com/fr-fr/actualites/basware-interim-report-january-1-june-30–2008.

38. KONE Corporation (2015). What’s a people flow day? YouTube, October 27. Retrieved from https://www.youtube.com/watch?v=FsfCjGskJVE.

39. Martin, J. (2012). Keith Tantlinger — The man behind the container. Sea Breezes, January 18. Retrieved from http://www.seabreezes.co.im/index.php?option=com_content&view=article&id=812:keith-tantlinger-the-man-behind-the-container&catid=34:ships&Itemid=56, Wikipedia (n.d.). Malcom McLean. Retrieved from http://en.wikipedia.org/wiki/Malcom_McLean; http://www.telegraph.co.uk/news/obituaries/finance-obituaries/8766380/Keith-Tantlinger.html, http://www.telegraph.co.uk/news/obituaries/finance-obituaries/8766380/Keith-Tantlinger.html, and Hagel, J., Brown, J. S., & Davison, L. (2008). Shaping strategy in a world of constant disruption. Harvard Business Review, 86(10), 80–89.

40. Robinson, J. (2011). Our man in Washington. Stuff, February 5. Retrieved from http://www.stuff.co.nz/sunday-star-times/features/4619280/Our-man-in-Washington.

41. Storbacka, K., & Nenonen, S. (2015). Learning with the market: Facilitating market innovation. Industrial Marketing Management, 44, 73–82.

42. Wikipedia (n.d.). Uber protests and legal actions. Retrieved from https://en.wikipedia.org/wiki/Legal_status_of_Uber%27s_service.

43. Munford, M. (2016). Estonia embraces Uber and Taxify as first European country to legalize and regulate ride-sharing. Forbes, February 28. Retrieved from http://www.forbes.com/sites/montymunford/2016/02/28/estonia-embraces-uber-and-taxify-as-first-european-country-to-legalize-and-regulate-ride-sharing/#757ed1b56968.

44. Gunningham, N., & Rees, J. (1997). Industry self-regulation: An institutional perspective. Law & Policy, 19(4), 363–414.

45. Everett Rogers demonstrated his diffusion theory in the 1962 published book Diffusion of Innovations, which later gained classic status. Rogers studied the penetration of new agricultural tools in the Midwest and figured out that the spreading of new ideas among a population always follows the same principles. These include among other things the revelation that the time measured from innovation launch to implementation follows the normal distribution curve, also known as the Gauss bell curve. This indicates that all populations have five adopting categories: innovators, early adopters, early majority, late majority, and delayed adopters Rogers, E. (2003). Diffusion of innovations (5th ed.). New York, NY: Simon and Schuster.

46. Woodard, R. (2011). Screwcap now ‘the norm’: New study. Decanter, November 14. Retrieved from http://www.decanter.com/news/wine-news/529514/screwcap-now-the-norm-new-study.

47. Stelzer, T., Grosset, J., Brajkovich, M., Forrest, J., & Rankine, B. (2005). Taming the SCREW: A manual for winemaking with screw caps. Tarragindi: Wine Press.

Chapter 4: Learn Shaping Principles and Plays

1. Gow, P. (2012). History of Les Mills – Documentary 2013. YouTube, April 16. Retrieved from https://www.youtube.com/watch?v=X1GD-NZaVJs.

2. Sanchez, J. T. (2011). The history of BODYPUMP™ with Phillip Mills. YouTube, November 7. Retrieved from https://www.youtube.com/watch?v=p1CqX_M7lmM.

3. Wikipedia (n.d.). Performativity. Retrieved from https://en.wikipedia.org/wiki/Performativity and Crossley, J. (2012). Les Mills an international success. Stuff, January 27. Retrieved from http://www.stuff.co.nz/business/industries/6327563/Les-Mills-an-international-success.

4. Mills, P. (2014). Secrets of success. LesMills, July 3. Retrieved from https://www.lesmills.com/clubs-and-facilities/industry-insights/secrets-of-success/.

5. Greco, C. C., Oliveira, A. S., Pereira, M. P., Figueira, T. R., Ruas, V. D., Goncalves, M., & Denadai, B. S. (2011). Improvements in metabolic and neuromuscular fitness after 12-week Bodypump® training. The Journal of Strength & Conditioning Research, 25(12), 3422–3431, Petersen, B. A., Hastings, B., & Gottschall, J. S. (2017). Low load, high repetition resistance training program increases bone mineral density in untrained adults. The Journal of Sports Medicine and Physical Fitness, 57(1–2), 70–76.

6. Les Mills International (n.d.). Retrieved from https://www.lesmills.com/ondemand/. Retrieved from https://www.lesmills.com/ondemand/

7. Reeves, M., Love, C., & Tillmanns, P. (2012). Your strategy needs a strategy. Harvard Business Review, 90(9), 76–83.

8. See Aspers, P. (2009). How are markets made? MPIfG Working Paper No. 09/2.

9. This adds another sense of “network” to those discussed in the terminology box under the Network layer in Chapter 3.

10. The comparison of Sony Walkman and Apple iPod is explained in more detail in Adner, R. (2012). The wide lens: A new strategy for innovation. UK: Penguin.

11. For those familiar with McKinsey’s Three Horizons framework, market shaping can be seen as a second-horizon activity (“Build emerging businesses”) or even a third-horizon activity (“Create viable options”).

12. For more about active waiting, please see Sull, D. N. (2005). Strategy as active waiting. Harvard Business Review, 83(9), 120.

13. Bershidsky, L. (2016). Uber needs an $11 Billion war chest. Bloomberg View, June 2. Retrieved from http://www.bloomberg.com/view/articles/2016-06-02/uber-needs-an-11-billion-war-chest.

14. For more information about the moral and ethical problems related to markets and market shaping, please see for example: Sandel, M. J. (2012). What money can’t buy: The moral limits of markets. New York, NY: Macmillan; Roscoe, P. (2014). I spend, therefore I am: The true cost of economics. New York, NY: Viking.; and Kuttner, R. (1999). Everything for sale: The virtues and limits of markets. Chicago, IL: University of Chicago Press.

15. For more about minimum viable systems, please refer to the viable systems approach, e.g., Golinelli, G. M. (2010). Viable systems approach (VSA): Governing business dynamics. Padova: Cedam.

16. Even though not invented by Stephen Covey, the abundance mentality is explained in great detail in his 1990’s classic Covey, S. R. (1991). The 7 habits of highly effective people. New York, NY: Simon & Schuster.

17. This value quantification is provided to us by Bo Harald and the Real-Time Economy Community. There are also other value quantification examples about e-invoicing in Europe, such as http://ec.europa.eu/internal_market/payments/einvoicing/index_en.htm

18. Cramo Plc (2013). Cramo’s and Ramirent’s joint venture company for the operations in Russia and Ukraine, Fortrent, launches its logo and corporate identity. Nasdaq GlobeNewsWire, April 12. Retrieved from https://globenewswire.com/news-release/2013/04/12/537882/0/en/Cramo-s-and-Ramirent-s-joint-venture-company-for-the-operations-in-Russia-and-Ukraine-Fortrent-launches-its-logo-and-corporate-identity.html.

19. Air New Zealand. (2013). Air New Zealand Investor Day 2013. Retrieved from https://p-airnz.com/cms/assets/NZ/PDFs/investor-day-2013.pdf.

20. CAPA Centre for Aviation. (2013). New Zealand negotiating open skies agreements to attract air services, even without reciprocity. Retrieved from https://centreforaviation.com/insights/analysis/new-zealand-negotiating-open-skies-agreements-to-attract-air-services-even-without-reciprocity-125072. Accessed on August 27.

21. Kirk, S. (2013). Air New Zealand and Virgin alliance extended. Stuff, September 20. Retrieved from http://www.stuff.co.nz/business/9190040/Air-New-Zealand-and-Virgin-alliance-extended.

22. Ministry of Transport, New Zealand. (2017). Alliance and codeshare agreements, April 19. Retrieved from http://www.transport.govt.nz/air/internationalairservices/internationalaircarriagecompetition/.

23. Bridgman, B., Dugan, A., Lal, M., Osborne, M., & Villones, S. (2012). Accounting for household production in the national accounts, 1965–2010. Survey of Current Business, 92(5), 23–36.

24. Coor Service Management (n.d.). Retrieved from http://www.coor.com/about-coor/history/.

25. Linas Matkasse (n.d.). Retrieved from https://www.linasmatkasse.se/hur-det-borjade/.

26. Chin Leong, K. (2013). Google reveals its 9 principles of innovation. Fast Company, November 20. Retrieved from http://www.fastcompany.com/3021956/how-to-be-a-success-at-everything/googles-nine-principles-of-innovation.

27. Newitz, A. (2012). Medieval monks complained about their jobs in the margins of ancient manuscripts. Retrieved from http://io9.gizmodo.com/5896008/medieval-monks-complained-about-their-jobs-in-the-margins-of-ancient-manuscripts.

28. For an overview of Clayton Christensen’s theory of disruptive innovations, please see: Christensen, C. M. (1997). The innovator’s dilemma: When new technologies cause great firms to fail. Boston, MA: Harvard Business School Press and Christensen, C. M., & Raynor, M. E. (2003). The innovator’s solution: Creating and sustaining successful growth. Boston, MA: Harvard Business School Press.

29. Yong, N. (2014). The secret recipe that sold over 100 Million BreadTalk Flosss Buns. TheSmartLocalSingapore, October 3. Retrieved from http://thesmartlocal.com/read/breadtalk-flosss-buns.

30. Garcia, T. (2016). Amazon is about to overtake Macy’s as biggest seller of clothing in U.S. MarketWatch, May 14. Retrieved from http://www.marketwatch.com/story/traditional-retailers-stumble-in-their-efforts-to-compete-with-amazon-2016-05-12.

31. Aughney, J. (2002). Tesco now offering life assurance. Independent, November 2. Retrieved from http://www.independent.ie/business/irish/tesco-now-offering-life-assurance-26025947.html; Cumbo, J. (2009). Check out supermarkets’ life cover. Financial Times, May 8. Retrieved from https://www.ft.com/content/adcb18d6-3be0-11de-acbc-00144feabdc0; Elsworth, S. (2013). Push to have life insurance sold by supermarket chains. News.com.au, March 24. Retrieved from http://www.news.com.au/finance/money/push-to-have-life-insurance-sold-by-supermarket-chains/news-story/739ea3478f03da941f18dc1c16b2d0ef, and Shannon, L. (2012). Life insurance trap at the checkout: Supermarkets use aggressive tactics to push cover that may not fit. ThisIsMoney.co.uk, August 16. Retrieved from http://www.thisismoney.co.uk/money/article-2124630/Supermarkets-use-aggressive-tactics-sell-customers-life-insurance.html.

32. Roth, A. E. (2007). The art of designing markets. Harvard Business Review, 85(10), 118.

33. Bachcare (n.d.). Retrieved from https://www.bachcare.co.nz/about-us.

34. Wood, A. (2015). Bachcare shows the how an SME proposition can take off. Stuff, October 3. Retireved from http://www.stuff.co.nz/business/72610441/bachcare-shows-the-how-an-sme-proposition-can-take-off and New Zealand Herald (2015). The death of the Kiwi bach. The Big Read, October 25. Retrieved from http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11534648.

Chapter 5: Leadership for Market Shapers

1. Dr. Alahuhta has written a book about his leadership philosophy – the book is, however, only available in Finnish: Alahuhta, M. (2015). Johtajuus. Kirkas suunta ja ihmisten voima. Kokemuksia ja näkemyksiä johtamisesta KONEen ja Nokian vuosilta [Leadership. Clear direction and people power. Experiences and insights from my years at KONE and Nokia]. Jyväskylä, Finland: Docendo Oy.

2. Egon Zender (n.d.). The continuity coming from the family ownership history is an asset for us in developing a strong performance culture. Interview with Matti Alahuhta, CEO KONE Corporation. Retrieved from http://www.egonzehnder.com/the-focus-magazine/topics/the-focus-on-family/expertise/interview-with-matti-alahuhta-ceo-kone-corporation.html.

3. 358.fi. (n.d.). Retireved from http://358.fi/work/people-flow/.

4. Killing, P., Malnight, T., & Keys, T. (2006). Must-win battles: How to win them, again and again. New York, NY: Pearson Education.

5. Virtanen, A. (2015). Digitalization enables user-centric people flow planning in smart buildings. In A. Wood & D. Malott (Eds.), Global interchanges: Resurgence of the Skyscraper City (pp. 603–608). Chicago, IL: Council on Tall Buildings and Urban Habitat. Retrieved from http://global.ctbuh.org/resources/papers/download/2514-digitalization-enables-user-centric-people-flow-planning-in-smart-buildings.pdf.

6. Murison, M. (2016). Kone partners with IBM IoT for smarter buildings. Internet of Business, March 4. Retrieved from https://internetofbusiness.com/kone-partners-with-ibm-iot-for-smarter-buildings/.

7. The alternative wording here would be “transform.” However, “transform” would be both too generic and suggest too much power in the shaper: a simple command; the whole move in market shaping is from power to influence.

8. Performativity is the property of expressed views and ideas impacting on reality per se and helping bring about the state of affairs they express. In the market-shaping context this means that any actor’s expressed market view can potentially shape the market toward itself as the actor repeatedly and consistently proposes that view to other market actors and they relay the signal. So, preaching the gospel to the parish may make the gospel real – or at least it will persuade everyone to act as if it were! See Wikipedia (n.d.f). Andrew Grove. Retrieved from https://en.wikipedia.org/wiki/Andrew_Grove.

9. Normann, R. (2001). Reframing business: When the map changes the landscape. Chichester: Wiley.

10. Fox, J. (2014). How to succeed in business by bundling – and unbundling. Harvard Business Review, June 24. Retrieved from https://hbr.org/2014/06/how-to-succeed-in-business-by-bundling-and-unbundling.

11. The best managerial book about this subject is by Day, G. S., & Schoemaker, P. J. H. (2006). Peripheral vision. Detecting the weak signals that will make or break your company. Boston, MA: Harvard Business School Press.

12. The classic go-to-book in this context is by Gladwell, M. (2008). Outliers: The story of success. London: Hachette.

13. In statistical terms, an outlier is an observation that is distant and different from other observations. Strictly, averages – or means – only partially submerge outliers. Medians submerge them entirely, so should be avoided like the plague!

14. Grove, A. S. (1996). Only the paranoid survive. New York, NY: Doubleday urged senior executives to allow people to test new techniques, new products, new sales channels, and new customers, to be ready for unexpected shifts in business or technology. Grove explains his reasoning as follows: “A corporation is a living organism; it has to continue to shed its skin. Methods have to change. Focus has to change. Values have to change. The sum total of those changes is transformation” (see Wikipedia (n.d.). Andrew Grove. Retrieved from https://en.wikipedia.org/wiki/Andrew_Grove).

15. Thompson, M. (2011). The uses of discomfort. The Radical Ear, May 21. Retrieved from https://theradicalear.wordpress.com/2011/05/12/the-uses-of-discomfort/.

16. Diamond, J. (2013). That daily shower can be a killer. New York Times, January 28. Retrieved from http://www.nytimes.com/2013/01/29/science/jared-diamonds-guide-to-reducing-lifes-risks.html.

17. Klein, G. (2007). Performing a project premortem. Harvard Business Review, 85(9), 18–19.

18. Kirk, C., & Brady, H. (2014). The Google graveyard. Slate, June 30. Retrieved from http://www.slate.com/articles/technology/map_of_the_week/2013/03/google_reader_joins_graveyard_of_dead_google_products.html.

This is a virtual space for grieving, in which followers of various services can leave a flower and the gravestone, and “let the healing process begin.” There were 42 headstones by June 30, 2014.

19. The affordable loss principles is one of the principles in the so-called Effectuation approach to business development, originally developed by Saras Sarasvathy (see Sarasvathy, S. D. (2009). Effectuation: Elements of entrepreneurial expertise. Northampton, MA: Edward Elgar Publishing). She did long-term research with successful serial entrepreneurs and noted that the way that they approach business development is radically different from the “traditional” business school approach. Based on this, she identified five core principles (https://en.wikipedia.org/wiki/Effectuation) that define Effectual Logic: (1) The Bird in Hand Principle. Entrepreneurs start with what they have. They will look at who they are, what they know, and who they know. Their education, tastes, and experience are examples of factors which are important in this stage. Besides these examples, this is also the stage where entrepreneurs look at their 3Fs, better known as friends, family, and fools. From this point, they will look at their abilities. So an entrepreneur does not start with a given goal, but with the tools he or she has. (2) The Affordable Loss Principle. An entrepreneur does not focus on possible profits, but on the possible losses and how they can minimize those losses. (3) The Crazy Quilt Principle. Entrepreneurs cooperate with parties they can trust. These parties can limit the affordable loss by giving pre-commitment. (4) The Lemonade Principle. Entrepreneurs will look at how to leverage contingencies. Surprises are not necessarily seen as something bad, but as opportunities to find new markets. (5) The Pilot-in-the-Plane. In this stage, all the previous principles are put together. The future cannot be predicted, but entrepreneurs can control some of the factors which determine the future.

20. The quote can be found here: Kaplan, R. D. (2010). Man versus Afghanistan. The Atlantic, April. Retrieved from http://www.theatlantic.com/magazine/archive/2010/04/man-versus-afghanistan/307983/. He has also written a book that is relevant in this context: McChrystal, S., & Fussell, C. (2015). Team of teams: The power of small groups in a fragmented world. New York, NY: Portfolio Hardcover.

21. See Eisenhardt, K. M., & Sull, D. N. (2001). Strategy as simple rules. Harvard Business Review, 79(1), 106–119; Sull, D., & Eisenhardt, K. M. (2015). Simple rules: How to thrive in a complex world. Boston, MA: Houghton Mifflin Harcourt; Sull, D., & Eisenhardt, K. M. (2012). Simple rules for a complex world. Harvard Business Review, 90(9), 68.

22. Kinni, T. (2015). Conquering complexity with simple rules. Insights by Stanford Business, April 14. Retrieved from https://www.gsb.stanford.edu/insights/conquering-complexity-simple-rules.

23. Economist and Financial Times columnist Tim Harford writes in his new book: Adapt: Why Success Always Starts with Failure (Harford, T. (2011). Adapt: Why success always starts with failure. London: Little, Brown).

24. https://en.wikiquote.org/wiki/Enrico_Fermi

25. The key tool in this is language development and the ability to create expressions of the envisioned market. In his seminal work from 2001, Richard Normann illustrates how firms can influence their landscape by reframing their role and creating a language to convey this to other players in the network.

26. Hagel, J., Brown, J. S., & Davison, L. (2008). Shaping strategy in a world of constant disruption. Harvard Business Review, 86(10), 80–89.

27. The book can nowadays be found free on the Internet: http://www.gutenberg.org/files/1946/1946-h/1946-h.htm

28. http://www.rugbyfootballhistory.com/originsofrugby.htm

29. Barrett, F. (2012). Yes to the mess: Surprising leadership lessons from jazz. Boston, MA: Harvard Business Review Press.

30. See Santos, F. M., & Eisenhardt, K. M. (2009). Constructing markets and shaping boundaries: Entrepreneurial power in nascent fields. Academy of Management Journal, 52(4), 643–671.

31. Turula, T. (2017). This Finnish law firm has transformed an age-old industry – By going digital and taking ‘no a-holes’. Business Insider Nordic, March 16. Retrieved from http://nordic.businessinsider.com/40-hour-weeks-playrooms-and-no-assholes-this-finnish-pioneer-has-brought-law-to-the-21st-century-2017-3/

32. Zott, C., & Huy, Q. N. (2007). How entrepreneurs use symbolic management to acquire resources. Administrative Science Quarterly, 52(1), 70–105.

33. Hargadon, A. B., & Douglas, Y. (2001). When innovations meet institutions: Edison and the design of the electric light. Administrative Science Quarterly, 46(3), 476–501.

34. See Möller, K. (2010). Sense-making and agenda construction in emerging business networks –How to direct radical innovation. Industrial Marketing Management, 39(3), 361–371.

35. Bluetooth SIG (n.d.). Retrieved from http://www.bluetooth.com.

36. Rao, H. (2009). Market rebels and radical innovation. McKinsey Quarterly, January.

37. McCracken, H. (2013). For one night only, Silicon Valley’s Homebrew computer club reconvenes. TIME Magazine, November 12. Retrieved from http://techland.time.com/2013/11/12/for-one-night-only-silicon-valleys-homebrew-computer-club-reconvenes/.

38. Johnson, S. (2010). Where good ideas come from. YouTube, September 17. Retrieved from https://www.youtube.com/watch?v=NugRZGDbPFU.

39. Porter, M. E. (2008). Competitive strategy: Techniques for analyzing industries and competitors. New York, NY: Simon and Schuster.

40. RBV – resource-based view of the firm (Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120). VRIN stands for “Valuable, Rare, Imperfectly Imitable and Non-substitutable.” It covers identification of all the potential key resources. It helps to analyze whether these resources can fulfill VRIN criteria: (1) Valuable – It involves value-creating strategies which can help one outperform its competitors or reduce its weakness by improving its effectiveness and increase in efficiencies; (2) Rare – includes all resources which are rare and not available to the competitor; (3) Imperfectly Imitable – value of a particular resource governed by only one firm and others can’t duplicate the resource for its use; and (4) Non-substitutable – the resources can’t be substituted by any other available resources.

41. Sull, D. L., & Ruelas-Gossi, A. (2010). Strategic orchestration. Business Strategy Review, 21(4), 58–63.

42. Davis, J. P., & Eisenhardt, K. M. (2011). Rotating leadership and collaborative innovation recombination processes in symbiotic relationships. Administrative Science Quarterly, 56(2), 159–201.

43. Ries, E. (2011). The lean startup: How today’s entrepreneurs use continuous innovation to create radically successful businesses. New York, NY: Crown Business; Blank, S. (2013). Why the lean start-up changes everything. Harvard Business Review, 91(5), 63–72.

44. See, for instance: Nazar, J. (2013). 14 famous business pivots. Forbes, October 8. Retrieved from http://www.forbes.com/sites/jasonnazar/2013/10/08/14-famous-business-pivots/#2aa9617f1fb9; Thomas, N. (2011). 11 startups that found success by changing direction. Mashable, July 8. Retrieved from http://mashable.com/2011/07/08/startups-change-direction/#XP_r8qAnksq7; O’Hear, S., & Lomas, N. (2014). Five super successful tech pivots. TechCrunch, May 28. Retrieved from https://techcrunch.com/gallery/five-super-successful-tech-pivots/; and Engel, K. (2015). Startup pivots that changed the world. WhoIsHostingThis? February 5. Retrieved from http://www.whoishostingthis.com/blog/2015/02/05/startup-pivots/.