Part 3/11:
These examples serve as cautionary tales underscoring a critical point: businesses that resist or delay innovation risk collapse. The statistic shared—less than 20% of companies that existed 50 years ago are still operational today—emphasizes that merely innovating at a slow pace is insufficient; companies must be proactive in continuous, disruptive innovation.
Rethinking Innovation: Beyond Thinking Outside the Box
The common phrase "thinking outside the box" is critically examined. While creativity and breaking conventional boundaries are essential, they alone are insufficient. Innovation isn't just about adding new features or incrementally improving existing products. It involves thinking beyond current limitations and challenging linear approaches.