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Why is it so hard for companies to do something truly new? After all, companies innovate all the time. They innovate products. They innovate marketing efforts. They innovate processes to increase efficiency. Through these efforts, companies innovate and improve their existing business model in incremental ways, streamlining and increasing its efficiency, tweaking the profit formula, bringing new key resources to the table, and changing and refining individual processes. But rarely do incumbent companies make the leap to reinvent their existing business models or create new ones in response to the opportunity or threat presented by a new customer value proposition. Why not? Why can't top executives get their employees to change course?
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