The post-introduction management of products and services under rapidly changing environmental conditions

In the face of rapidly changing environmental and market conditions, maintenance of a 'business-as-usual' attitude by managers is an extremely risky approach to managing products and services on an on-going basis. As an alternative approach to the post-introduction management of products and services, this paper calls for a shift in behavior to a 'steering' mode -an approach to risk management which calls for a continual search for new opportunities generated by changes in demand, changes in competitors' behavior, changes in available technologies, and other environmental changes. Thus, rather than managing products and services to adhere to an initial plan, steering continually questions whether or not the original plan remains appropriate. The paper gives a conceptual context for steering before providing an outline of a couple of case studies on the implementation of the concept. Finally, the paper offers a consideration of some hypotheses for risk management via steering. © 1986.

Duke Scholars

Author Richard M. Burton Fuqua School of Business