It has been well-documented that big companies typically struggle with innovation. Once companies get to a certain size, their investors become more conservative, their leaders less entrepreneurial, decisions are managed by consensus and their employees become less willing to stick their neck out with “out-of-the-box” ideas, that may not work out and result in losing their jobs. And, without innovation, companies get too “comfortable” with their past success, just before going out of business (e.g., Woolworth, Montgomery Ward, Borders, Blockbuster, American Motors, Pan Am).
Read the rest of this post in Forbes, which I guest authored this week.
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