The gravity of business growth is shifting from capital to creativity. Today, the most valuable companies in the world are primarily innovators.
In the innovation economy, a disruptive mindset is the key to business leadership. It is also essential to break away from the business models that cannot keep up with the market’s evolution. A modern business leader must have a strategy to reinvent even a successful business. The innovation economy takes away security from businesses, but it offers unprecedented rewards in the form of lightning-fast growth and great market dominance. In the new world, market belongs to the most vigorous innovator. The first-mover advantage is brief because capital and technology are easily accessible. It is much easier to imitate and enhance a successful product in the new economy than it used to be. Now, a company has to be not only quick with innovations, it has to continuously listen to the user and upgrade products frequently. Business leaders need to be relentless in growing the company’s innovation capability.
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