Why do some companies have their fingers on the pulse of the marketplace, offering innovative – and profitable – products and services that customers can’t live without, while other companies tread water, struggling to stay competitive?
I believe that opportunities for innovation and growth are everywhere. The problem is that most companies are blind to them, looking at the world through the lens of their own technologies, products, and successes, miscalculating what their customers really want and need.
Companies focus too much attention on making incremental improvements to existing products – irrespective of whether this is meaningful to the customer. They chip away at the most minute advantage in the hope of extending the life of an innovation – initially finding success, but ultimately having the rug pulled from beneath them as a competitor develops an entirely new approach.
In my new book Hidden in Plain Sight (Harvard Business School Press, May 2007) I present a radical approach to reinventing business strategies, building brands, and establishing a culture of innovation, which helps companies reorient their vision and spot opportunities before their rivals do.
This blog enables me to further elaborate on the topics and case studies covered in Hidden in Plain Sight. Moreover, I am looking forward to discussing them with with you - my readers and fellow bloggers - by responding to your comments and blog posts. In order to make it easier for you to follow this blog I've set up an RSS feed, please feel free to sign up.
