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The single biggest reason companies fail is they overinvest in what is, as opposed to what might be.
Gary Hamel
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Gary Hamel
Age: 70
Born: 1954
Born: January 1
Businessman
Businessperson
Economist
Might
Innovation
Fail
Biggest
Failing
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Company
Change
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Companies
More quotes by Gary Hamel
There's a simple, but oft-neglected lesson here: to sustain success, you have to be willing to abandon things that are no longer successful.
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Like a child star whose fame fades as the years advance, many once-innovative companies become less so as they mature.
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The only thing that can be safely predicted is that sometime soon your organization will be challenged to change in ways for which it has no precedent.
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This extraordinary arrogance that change must start at the top is a way of guaranteeing that change will not happen in most companies.
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Innovation is the fuel for growth. When a company runs out of innovation, it runs out of growth.
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You can't build an adaptable organization without adaptable people - and individuals change only when they have to, or when they want to.
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I am an ardent supporter of capitalism - but I also understand that while individuals have inalienable, God-given rights, corporations do not.
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Over the centuries, religion has become institutionalized, and in the process encrusted with elaborate hierarchies, top-heavy bureaucracies, highly specialized roles and reflexive routines.
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In an ideal world, an individual's institutional power would be correlated perfectly with his or her value-add. In practice, this is seldom the case.
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From Gandhi to Mandela, from the American patriot to the Polish shipbuilders, the makers of revolutions have not come from the top.
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Most of us understand that innovation is enormously important. It's the only insurance against irrelevance. It's the only guarantee of long-term customer loyalty. It's the only strategy for out-performing a dismal economy.
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Are we changing as fast as the world around us?
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All too often, a successful new business model becomes the business model for companies not creative enough to invent their own.
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In a world of commoditized knowledge, the returns go to the companies who can produce non-standard knowledge.
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Organizational structures of today demand too much from a few, and not much at all from everyone else.
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In the age of revolution it is not knowledge that produces new wealth, but insight - insight into opportunities for discontinuous innovation. Discovery is the journey insight is the destination. You must become your own seer.
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Taking risks, breaking the rules, and being a maverick have always been important but today they are more crucial than ever.
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The opportunities for future growth are everywhere. Seeing the future has nothing to do with speculating about what might happen. Rather, you must understand the revolutionary potential of what is already happening.
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Your organization can start tweeting, but that wont change its DNA.
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Any company that cannot imagine the future won't be around to enjoy it.
Gary Hamel