ESCAPING THE RED QUEEN EFFECT THROUGH TECHNOLOGY INTELLIGENCE: A REVIEW OF THE LITERATURE AND RECOMMENDATIONS
Keywords:Technology Intelligence, Red Queen Effect, business competition, Comfort Trap
AbstractTechnological innovations and inventions can change the competitive environment by creating new business, new industries, or by demolishing the existing. Forecasting the new technologies and the new innovations can lead the organizations to be proactive and to make smart decisions. The knowledge-based and co-evolutionary business environment today, organizations should survive by running at least twice faster than their competitors, but also they should run smarter and dissimilarly. The Red Queen Effect phenomenon explains the role of the co-evolution and the speed of the competitive actions of the rivals in business environment. On the other hand, the question “how to be faster and smarter” should be answered in scope of the technological change. This article suggests the importance of Technology Intelligence to manage the firm competitiveness under the Red Queen Effect, and identifies the expected benefits of an effective Technology Intelligence activity.