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Why Is It Important to Have or Acquire Experience in a Particular

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Why is it important to have or acquire experience in a particular industry in order to grow a successful business in that industry? Can you give a few examples that are exceptions to this general rule?


Definitions:

Expanded Bureaucracy

Increased complexity and expansion of organizational structures and procedures often resulting in inefficiency.

Modular Organizations

Organizations structured in such a way that they can be easily reorganized, adapted, or resized by adding or removing modules, or discrete units, without affecting the overall system.

Strategic Control

The process of monitoring and adjusting a company's strategy in response to changing internal and external conditions.

Innovative Unit

A subgroup or department within an organization dedicated to developing new ideas, products, or processes.

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