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How companies can get lucky and succeed

Freek Vermeulen explains how luck really does exist in the business world

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The latest in a series of London Business School podcasts featuring members of faculty is now online.

Freek Vermeulen, Associate Professor of Strategic and International Management, explains how luck really does exist in the business world.

Vermeulen begins his podcast by stating that through examining the strategies of successful companies it occurred to him that there was an element of luck involved in most, if not all, cases. In fact, the initial idea to start a business is often the result of a “lucky” or “chance” event.

This observation has led Vermeulen to ponder why some companies are “more lucky” than others. He notes that the key lies in being open to the opportunity, realising it and then developing it into a successful strategy.

Two well known companies are cited as business that “got lucky”, South West airlines and Hornby.

To hear more about the role that luck and chance play in business, listen to this podcast.

You can also visit Freek Vermeulen’s blog.

Created: Tuesday 12 February 2008

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