Gyrations in Financial Markets Provide Lessons for Innovators
Unprecedented daily swings in the DJIA are symptomatic of investors losing their gimbals. Negative swings in customer loyalty and profits are similarly indicative of management teams who have lost their bearing.
So here is a parting thought.
Are your company’s innovation efforts determine by what customers will reward…or by what company leaders will reward? If you’re outperforming similar firms on customer loyalty then it’s both. If it’s only the latter, then you’re company performance looks like the chart for the DOW.
You’ll be interested to know that most companies’ approaches to innovation are dysfunctional. As a result, 40% of Fortune 500 firms won’t be in the Fortune 500 in ten years. We’ve consolidated the results of several studies about this.
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Add comment October 16th, 2008
