Failing to lose your head: using Intelligent Fast Failure to defeat the Red Queen
Abstract
Purpose
The purpose of this paper is to, first, present Red Queen competition as a psychological explanation of market entry failure and then, second, illustrate how an intervention called Intelligent Fast Failure (IFF) can be used to avoid faulty market entry decisions.
Design/methodology/approach
Using Red Queen competition as a lens, a theoretical analysis of how IFF can improve market entry decision-making is provided.
Findings
This paper supports the view that failure is a valuable source of organizational learning. Moreover, the analysis suggests that IFF may provide learning that is valuable for market entry decision-making.
Originality/value
While IFF has previously been applied to areas such as foreign language learning, aeronautical safety, and technology-based design, no one to date has suggested its value as an organizational learning tool for market entry. Therefore, this paper is a valuable resource for researchers, managers, and consultants who provide organizational learning and strategic planning services to organizations.
Keywords
Citation
November, E.D. (2017), "Failing to lose your head: using Intelligent Fast Failure to defeat the Red Queen", Strategic Direction, Vol. 33 No. 10, pp. 4-6. https://doi.org/10.1108/SD-07-2017-0103
Publisher
:Emerald Publishing Limited
Copyright © 2017, Emerald Publishing Limited