Christensen (The Innovator's Dilemma) has an anecdote that prompted his PhD research:
Digital used to be extremely successful with their minicomputers. Highly profitable, their management was lauded by the press. Then, the PC arrived, and quickly undermined minicomputer sales and profits - and Digital. The press ran a series of articles about how Digital management had lost their way, and kept making terrible decisions. But, according to Christensen, management hadn't changed. They were the same people, making the same kinds of decisions, on the same basis, with the same values.
Digital used to be extremely successful with their minicomputers. Highly profitable, their management was lauded by the press. Then, the PC arrived, and quickly undermined minicomputer sales and profits - and Digital. The press ran a series of articles about how Digital management had lost their way, and kept making terrible decisions. But, according to Christensen, management hadn't changed. They were the same people, making the same kinds of decisions, on the same basis, with the same values.
http://www.strategy-business.com/article/14501?gko=ca7ad