Business Strategy Question:
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Can you provide an example of how strategic thinking resulted in taking advantage of a business opportunity?
Answer:
Example:
Many years ago, the company, was working on developing a new kind of adhesive / glue in its laboratory. They were trying to develop something to be used in their famous line of scotch tape products. They came up with a glue that simply did not conform to the specifications and functions they required but had other characteristics. It is said that for a number of years, despite efforts by the research scientist involved, nobody at company was particularly interested in the use of the product or could even see how such a research "failure" could be transformed into a profitable product.
Many years ago, the company, was working on developing a new kind of adhesive / glue in its laboratory. They were trying to develop something to be used in their famous line of scotch tape products. They came up with a glue that simply did not conform to the specifications and functions they required but had other characteristics. It is said that for a number of years, despite efforts by the research scientist involved, nobody at company was particularly interested in the use of the product or could even see how such a research "failure" could be transformed into a profitable product.
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