The More Successful Movie Studios Become, the Less Risk-Averse They Are
The instinct to retrench and overemphasize strategies that have worked in the past is a common problem in companies as they get bigger and have more to lose, particularly as technologies change. Polaroid and BlackBerry doubled down on their time-tested formulas despite market changes, suggesting that this behavior can undermine even the most successful companies. “The more successful and larger they become, the more antibodies they develop to doing anything new,” said Alan MacCormack, a Harvard Business School professor. And this may explain why summer 2015 will see sequels in the franchises for “Batman,” “Superman,” “Avengers,” “Terminator,” “Independence Day,” “Pirates of the Caribbean” and “Smurfs.”
Catherine Rampell, “Revenge of the Nerds”, The New York Times Magazine (8 September 2013), 16.