Innovation versus Transformation
Joseph F Paris Jr
If you want your business to survive, you need to innovate. If you want your business to have a chance of thriving, you need transformation. Certainly, either innovation or transformation are no guarantees of success – but the lack of both almost certainly leads to doom. Need proof? Can you name one company or one industry (other than government) today that, when faced with a change in the marketplace, failed to innovate – and instead stayed with its traditions, and survived – not to mention, thrived? If you think of one, let me know. How about a company that faced a transformation in the marketplace – how did it fare over time?
But, what is innovation? And what is transformation?