Definition: Mind-sets and practices related to establishing a Success Formula, then improving on it and protecting it against competitors by doing it better, faster, or cheaper. D&E Management sees the historical Success Formula as the solution to the problems that arise from marketplace challenges and seeks to defend or fix it. For example, Tupperware became successful in the 1950’s using the home party model and providing high-quality products. In the 1990’s, struggling to grow revenue and profits, they continued clinging to their original model—asserting that the home party sales model was still viable and developing products so high in quality as to be bullet-proof. As a result, the company continues struggling along in the Swamp. [Source: The Phoenix Principle] See also: Phoenix Principle, challenges, Success Formula, lock-in, Swamp.
