The Introduction of a New Product in the Serviced Offices Business
Regarding the introduction of a new product in the serviced offices business, it would be much easier to introduce the new product that does not depart in any extreme way from existing products because it would require less retooling, fewer new resources and knowhow, and could be sold within an existing market. In this case, the product represents an opportunity that is not extremely novel or new, relative to what the firm is currently selling.
However, it is quite appropriate for both the current firm position and the current marketplace. In addition, searching an unfamiliar, distant and broad terrain may prove to be too cognitively challenging for the limited information processing capabilities of individuals. Therefore, I predict that although distant, unfamiliar, and broad search terrains will lead to novel opportunities, it is more likely that these opportunities will be inappropriate and incorrect for the current environment in which the executive resides. Therefore, I argue that these same dimensions will be negatively related to the “appropriateness” of the opportunities seized by managers.
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