Innovation & Commoditization
Posted on January 1, 1970 by Blake Leath
Among several others, I had a couple of specific, very interesting conversations in the past week (one with a CEO, the other with a researcher) that I thought I would pass along today. In both, the opportunities and challenges associated with innovation and commoditization arose.
These visits were unrelated to one another, and days apart. But in both sittings, I was told, "It's important for an organization to innovate more quickly than it is consumed from behind by its own commoditization."
I just love that.
We've all heard this sentiment for years, but rarely so pithily. It is all the more important today, in this economy, as the desperate, shortsighted, or lazy are inclined to simply mimic whatever is working. I believe the evidence is everywhere... from car manufacturing to failed credit default swaps. Easy 'initial money,' when predicated on a sandy foundation of mimicry and commoditization cannot survive the stresses of change, diluted profits, or shifting consumer desires.
Here's to a more innovative America, and world.