When implementing a new strategy, which time horizon do you set and how much negative cash flow are you prepared to accept until the realization of the outcome?
That is how patient are 'investors' and how deep are their pockets (resp. how good management at selling their story).
In terms of time horizons and deep pockets I like the concept of fitness landscapes (which has probably not been interpreted 'right' in its original biological context), where organizations and strategies have to move through hills and valleys of relative fitness (another concept with some issues), respectively have to move on a landscape that is moving itself.
Nevertheless, as a metaphor with quite some abstract and mathematical apparatus associated it seems useful. For instance, one could argue that non-monetary (that is hard to financially value or associated with immediate financial returns) factors can be brought into such a conceptualization impacting on 'fitness' of an organization or strategy (composed of financial and non-financial factors).
Growing niches for products / services, which can build on their accumulated economics of scale and scope nicely fit into this conceptualization as well.
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