Innovation is Not Enough

The idea that successive waves of innovation are the main driver of long-term performance in a new or emerging business—or an existing one, of course—appears to be sound when viewed in the abstract. Clearly, innovations in technology, processes, and methodology have occurred, sometimes dramatically, in the U.S. and world economies. Whole new businesses emerged over the past two centuries as advances in manufacturing, transportation, services and communication came in sometimes rapid, succ...