In Miles and Snow's typology, what type of firm is known for continual innovation by finding new product and market opportunities?

In Miles and Snow's typology, the type of firm that is characterized by continual innovation and a proactive approach to finding new product and market opportunities is the Prospector. This type of firm actively seeks out new opportunities and is willing to take risks in order to pursue growth and new markets. Prospectors are often at the forefront of industry changes and trends, constantly looking to develop and introduce new products, which helps them maintain a competitive advantage in rapidly changing environments.

This strategic approach contrasts with the other types in the typology. Defenders focus on maintaining and improving their existing products within a stable market rather than chasing new opportunities. Analyzers try to balance stability with innovation by cautiously exploring new ideas while primarily concentrating on their existing markets. Reactors tend to respond to changes in the environment rather than proactively seeking opportunities, often resulting in less effective strategic outcomes. Hence, the emphasis on continual innovation and exploration of new opportunities makes the Prospector the appropriate choice in this context.