January 21, 2013 2 Comments
“America demands invention and innovation to succeed.” -Kit Bond
Blockbuster. Research in Motion (Blackberry). Borders. AOL. Palm.
What do these companies have in common? They used to be on the leaders in their respective industries, but are now either bankrupt or on the way out. The cause of their slow slides into irrelevancy is their failure to innovate after they hit it big. Their stagnation prevented them from adapting to meet the changing demands of their clientele, provoking their customers to leave them for their more agile competitors. Companies that fail to innovate should rightly be allowed to go out of business. Read more of this post