A thought came to mind when I was reading an essay in one of the GMAT tutorial. It was something related to the down fall of the Industries in United States. So it gave me a chance to think little more deeper on what all things Ii have been observing and what all the things I have read so far...
The para about the US auto industry being falling behind really makes me ask a question, "Innovation and Success do they really go hand in hand ?" Which implicates another question "is the innovation is the most powerful weapon for any product any organization any country to succeed ?" And I think its very true. And that is why the industries in the US started falling and gave away the leading position to the organizations from Japan, Germany and other countries. The key behind the success of these organizations was their innovative power which brought various new technologies and which the target user found very exciting and easy to use/operate in short they were friendly and with time and that's why they became popular and hence helped their innovators to gain the top spot.
One of the most classic example of this is the global Automobile Industry. US was the number one player right from the beginning till 2007 when Toyota took over as a leader. US was able to remain on the top spot from the beginning i.e since 1902 because the automobile was itself a innovation and very useful phenomenon to have happened to mankind. And since the US was the inventor it enjoyed a number 1 position the Fords and GMs were all sitting happy at top positions but they overlooked the competition around them and could not envision the need of time and the needs of people of today. I would say they failed to re-Innovate the automobile they just renovated the technologies they had and on the other side the Japanese innovated all the aspects of a ideal vehicle as per the needs/requirements of people from particular region. Toyota Tundra a popular pick up truck is an example of "Innovation according to Demand". GM which was earning $1billion /qtr profit had started sustaining heavy losses from mid 90s when introspected they found that the vehicles which they produce are not up to the mark in quality and do not give their customer a value for money and are being without any innovation in them. Which resulted in loss of leading position, losses & job cuts.
Ultimately only a good leadership and a market position is not the key factor to succeed and being able to persist at the top its always Innovation and Innovative ideas which really amuse and propel customers to try them out. The mind of a target customer is limited to what he has seen and expects something simillar to that but how about suprising him with something he never thoguht of and which will help satisfy his needs in very prommisssing and friendly way...
In a way, innovation is an important ingredient to achieve success. Innovation is the drive to improve what is already available. As Albert Einstein puts it, "Logic will get you from A to Z; imagination will get you everywhere."
ReplyDeleteKimi Stremmings