The purpose of this paper is to investigate product development and sustainable competitive advantage in functional chemical industry. Through a case study of ANISOLM, we clarify that persistent efforts for application development, technology accumulation, patent strategy, collaboration with customers, and development of integral business models are crucial factors for sustainable competitive advantage in the industry.
The mutual learning model of March (1991) concludes that “slow learning on the part of individuals maintains diversity longer, thereby providing the exploration.” However, the simulations of March (1991) excluded both ends of the socialization rate domain. When compensating for those missing portions, there is an optimal socialization rate that actually maximizes the average knowledge level.