Date Added: Jun 2009
Everyone talks about the importance of innovation, but talking is not walking the walk. For instance, by the time of its initial public offering in 2004, Google was already a formidable rival of Microsoft, Amazon and Yahoo. Why didn't they see the same opportunities? One crucial reason appears to be that industry giants - and large companies generally - concentrate too much on relatively safe, incremental product improvements instead of focusing on potentially more profitable - but riskier - breakthrough innovations.