According to the American Enterprise Institute, 89% of the companies listed on the Fortune 500 in 1955 are no longer on the list. Many no longer exist. Of those 500 companies, only 61 still remain. Those companies – names like Boeing, Kellogg, Procter and Gamble, IBM, and Whirlpool – have remained because of one thing – a willingness to do whatever it takes to remain relevant and resilient, including constant change and adaptation. In their unceasing quest for market leadership, these firms have embraced the constant and relentless hunt for “what’s next”… for the next innovation that will advance their markets to the next stage. When new customer needs and demands have arisen out of either changing fashion or technological evolution, these companies were right there to embrace new technologies, adopt new business models, and respond however appropriately to meet these needs and deliver new value and experiences. They have not been afraid to experiment and innovate in order to remain the leaders they are today.
