Role in Business and Strategy
M. E. Graebner describes serendipitous value in the context of the acquisition of a business as "windfalls that were not anticipated by the buyer prior to the deal": i.e., unexpected advantages or benefits incurred due to positive synergy effects of the merger. Ikujiro Nonaka (1991,p. 94 November–December issue of HBR) points out that the serendipitous quality of innovation is highly recognized by managers and links the success of Japanese enterprises to their ability to create knowledge not by processing information but rather by "tapping the tacit and often highly subjective insights, intuitions, and hunches of individual employees and making those insights available for testing and use by the company as a whole".
Serendipity is a key concept in Competitive Intelligence because it is one of the tools for avoiding Blind Spots (see Blindspots analysis)
Read more about this topic: Serendipity
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