On a flight to Dubai you meet the CEO of a French company who laments, "Ah, at one time our company was known as the innovator in our industry. Today, we are lagging behind most of the younger competitors, you know, those competitors who have been in business for less years than we have been. We heard a lot about how newer, younger companies go about innovation. Can you explain to me why once industry leaders are no longer leaders?

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The CEOs concern reflects a common challenge faced by many established companies across industries There are several reasons why once industry leaders ... View the full answer