Charles Darwin said: "It is not the strongest of the species that survive, nor the most intelligent, but the one that is most responsive to change."
Investors know all too well that past performance is no guarantee of future success. Markets are constantly fluctuating and a good idea today almost certainly won't be a good idea in a few years' time. It's for this reason that the wild success of certain corporations sow the seeds of their future failures. The bigger and more successful a firm is at a given point in time, the more likely it will get stuck in an operating mindset that prioritizes efficiency gains and asset exploitation at the expense of innovation and exploration.
No comments:
Post a Comment