Excerpt from the May/June 2017 edition of The European Business Review
Every company begins as the nimble startup, organized around the solution to a single customer problem and executing that solution better than anyone else in the market (including incumbents with deep pockets). But this emerging leader soon becomes a follower as the organization evolves and scales into a more complex (but capable) next generation incumbent. Inevitably, every growing organization finds itself so focused on capturing all of the business for its existing solutions, that it finds itself becoming disconnected from evolving customer preferences.
The companies that last the longest manage to fulfill existing customer needs with well-delivered solutions, and identify new customer needs to satisfy as customer preferences continue to shift. But many large or growing companies fail to do so quickly enough, especially in our new digital reality where it is easier than ever to start and scale a solution around the globe with limited resources. Innovation is the key to remaining relevant with customers. Winning the War for Innovation is the key to remaining alive.