A company can succeed by being first into a market, having the smartest senior executive team, cheating or being lucky. It is not surprising therefore that a company is not likely to succeed over a long period of time. Why? Luck can change First mover advantages might not be realised - organisational structure does not encourage learning, motivation; decision-making mistakes Smarter people come along and start new firms or attracted to other firms Cheating catches up - negative reputational consequences; civil or criminal actions Successful firms and their management team become arrogant and complacent