In the solar-power industry, a firm develops a new technology that revolutionizes the capacity of solar panels to produce and store energy for home use. How should other firms in this industry respond?

Question: In the solar-power industry, a firm develops a new technology that revolutionizes the capacity of solar panels to produce and store energy for home use. How should other firms in this industry respond?

• Make large capital investments in advertising to sell their existing products by promoting their brand and market reputation.
• Recognize that they are the victims of the competitive life cycle and plan to diversify into another sector.
• If a firm possesses the capital to invest in research and development and has the dynamic capability to adjust, they should try to survive this industry disruption through a similar innovation.
• Given the historically slow adoption of solar technology, assume clients will continue with the usual panels and hold off making any changes.

Answers: Recognize that they are the victims of the competitive life cycle and plan to diversify into another sector.

Conclusion of In the solar-power industry, a firm develops a new technology that revolutionizes the capacity of solar panels to produce and store energy for home use. How should other firms in this industry respond?

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