Abstract
This chapter examines the concept of paradigm shift and applies the Black Swan strategy to the business realm. We argue that business strategies that rely on history (e.g., past successes and failures) are limited and prevent one from anticipating new occurrences that are often disruptive. The three case studies of Keyence, Komatsu, and Nippon Kotsu highlight the importance and value of the Black Swan strategy to manage even “high magnitude, low frequency upheavals” through unconventional approaches.
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Park, Y.W., Hong, P. (2019). Paradigm Shift and Black Swan Strategy. In: Creative Innovative Firms from Japan. Springer, Singapore. https://doi.org/10.1007/978-981-13-1681-4_3
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DOI: https://doi.org/10.1007/978-981-13-1681-4_3
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