The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

492. Breaking Free from Functional Fixedness

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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The Dangers of Functional Fixedness: Lessons from the Buggy Whip Industry

This chapter delves into functional fixedness, demonstrating how deep expertise can hinder the recognition of new opportunities. It uses the decline of the buggy whip industry as a case study to emphasize the necessity of a broader perspective for innovation and adaptation in evolving markets.

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