Business is changing. We hear that a lot. But why does big business struggle so much with innovation? And why do they appear to be burying their head in the sand when it comes to reinventing themselves?
Innovation has always been a core ingredient of any successful business’s DNA. Without it business will have a finite existence; you only have to read that since 2002 52% of the Fortune 500 is no longer around to realize change is afoot.
So why haven’t we learned from the past?
It wasn’t too long ago that industrialization came along. Those business relying on animal power now had an opportunity to employ machinery for the heavy lifting. That must have been a pretty big deal. It certainly was for the donkeys.