Navigating Change: The Struggles of Leadership and Acquisition

Gibson's Les Paul sets a new standard for the solid-body electric guitar, and rival guitar maker Fender needs to respond. The company does so in 1954 with a sleek, futuristic guitar unlike anything else on the market: the Stratocaster. It's a hit.

With their higher volume and heavier tones, the Les Paul and Stratocaster help give rise to a new style of music: rock 'n' roll. It opens up a whole new market for electric guitars -- but which company will dominate?   

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