On innovation and catching up
What might feel like “innovation” to one business is yesterday’s news for another.
Sometimes to “innovate”, larger traditional businesses need to just catch up with more dynamic, smaller new players.
Take car space for example.
Adding autopilot, personalized dashboards and seat settings, responsive interior and car companion apps etc. is no longer an “innovation”. That’s part of a package customers will expect from a car soon enough. Some already do.
So please make sure you catch up with the competition first, cover the “must haves” before over-investing into the new “new thing”.