Innovate or Die
Innovate or Die
Abstract
Today, success has become an impermanent achievement which can be taken away by competitors any time. It has rather become a fundamental requisite for companies to continuously innovate and evolve according to the ever-changing moods of the customers for their survival and growth. If they fail, unfortunately, there will be no tomorrow for them.
We know that the bigger and better we get, the higher the hurdles become. Therefore it is incumbent upon us to challenge and continuously improve the way we run our business.
-Bernie Marcus
Why Innovation?
Today, business is nothing less than war and victory is ephemeral. Sustaining a position in the consumers' mind is an on-going battle and victory can be snatched away with the blink of an eye. The continuous battle for the top spot has forced companies to constantly innovate. Very few companies are successful in sustaining their dominant position and those that are, continuously innovating. They have the courage to attack their position in the market. Continuous innovation and self-attack are at the core of competitive strategy for the 21st century companies. Jack Trout and Al Ries (Trout and Ries) in their book Marketing Warfare say that the best way to improve a company's position is to constantly attack it. They feel that a company can keep strengthening its position by introducing new products. To put it more precisely, a moving target is hard to hit than a static one.
Innovation, for the new breed of companies, is all about changing the environment. It is about breaking the old rules and routinized work pattern and introducing new things with new standards. It means creating a sea change in the way a consumer performs his day-to-day activities. According to professor Gurprit S Kindra, School of Management, University of Ottawa, Canada, "the ATM was an innovation which totally changed the way people used to deal with their money".
Most marketing experts agree that a company needs to
Abstract
Today, success has become an impermanent achievement which can be taken away by competitors any time. It has rather become a fundamental requisite for companies to continuously innovate and evolve according to the ever-changing moods of the customers for their survival and growth. If they fail, unfortunately, there will be no tomorrow for them.
We know that the bigger and better we get, the higher the hurdles become. Therefore it is incumbent upon us to challenge and continuously improve the way we run our business.
-Bernie Marcus
Why Innovation?
Today, business is nothing less than war and victory is ephemeral. Sustaining a position in the consumers' mind is an on-going battle and victory can be snatched away with the blink of an eye. The continuous battle for the top spot has forced companies to constantly innovate. Very few companies are successful in sustaining their dominant position and those that are, continuously innovating. They have the courage to attack their position in the market. Continuous innovation and self-attack are at the core of competitive strategy for the 21st century companies. Jack Trout and Al Ries (Trout and Ries) in their book Marketing Warfare say that the best way to improve a company's position is to constantly attack it. They feel that a company can keep strengthening its position by introducing new products. To put it more precisely, a moving target is hard to hit than a static one.
Innovation, for the new breed of companies, is all about changing the environment. It is about breaking the old rules and routinized work pattern and introducing new things with new standards. It means creating a sea change in the way a consumer performs his day-to-day activities. According to professor Gurprit S Kindra, School of Management, University of Ottawa, Canada, "the ATM was an innovation which totally changed the way people used to deal with their money".
Most marketing experts agree that a company needs to