The typology of Bentley et al (2013) delves deeper into corporate strategy, dividing companies into ‘defenders’ and ‘prospectors’ based on the rate of organisational change in regard to products and markets. Since 2013, the number of prospectors — those who rapidly change their product mix to be innovative market leaders in numerous domains — has continued to increase.

Business strategy types in corporate America, by Prospectors and Defenders from 1987 to 2022, as pre cent of listed firms