Every company starts at ground zero, including those that have become the largest conglomerates across the world. But not every company is a startup. Many companies are founded as subsidiaries or as a part of the divestment or diversification program. Such companies are not technically, startups. However, almost every company is as innovative as a startup during its nascent years. It is only owing to innovation that companies become brands. Sadly, most companies stop innovating after they become brands. Very few established corporations and even small to medium enterprises that have amassed some wealth and have accomplished a certain degree of success indulge in innovation. Even if some companies do innovate, they certainly don’t do it as extensively as a startup.
Innovation is necessary. There is a reason why some very old companies that have been around for a long time and have done very well throughout become passé at a certain stage. Without innovation, a company or its offerings will become redundant at one stage.
52 Tools For Any Company To Innovate Like A Startup is a comprehensive guide for every organization, that intends to reinvent itself or wants to grow further.
There are many reasons why established firms or companies that are doing well stop innovating. The thirst to succeed is quenched in most cases. There is seldom any need for innovation because the founders or the leaders of the firm are satiated with what has been achieved and they develop a perception that sticking to what they are doing and how they are doing it will ensure that they don’t fall or fail. Having rules, policies and everything that is customary for a company that is doing well is necessary but not to an extent where innovation ceases to exist.
Most companies that have attained a certain level of success tend to abide by the rules, have stringent approaches to work and don’t even recognize initiatives of innovation. Such companies need to change their approach if they wish to keep growing, more importantly, if they wish to remain relevant for a long time in a rapidly changing world.
Many startups that had shaped up in the last twenty years have faded into oblivion. That is primarily because the moment they attained some success, they stopped innovating which was what had got them the success in the first place. That fate awaits most organizations unless innovation is fueled.
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