Why market leaders lose out to innovators?

From Josiah Go article at Inquirer Market Pulse

From Business Inquirer

Why as Cebu Pacific wrested the market share from PAL, Asias first  airline when it had the resources to launch such service, segment the market?  Or why has The Generic Pharmacy now outnumbered Mercury Drug outlets 2:1

Some answers:

1.  Company needs to protect financials.  Many see PHP spent on innovation as potential loss rather than potential profits;  (in gestation period, the new business can experience losses:

2.  Culture of complacency Success is the greatest enemy;  it breeds complacency

3.  Limited knowledge and methodology;   lack of understanding  of business model and see anything new as innovation

4.  Arrogance and pride (Pride goeth before the fall (hubris)

5.  Lack of strategic thinking

6.  Slow response to technological changes (lack of speed)

7.  Lack of idea channel (suggestion system bottoms up communication

8.  Internal inefficiency;  not process oriented lack of quality, or even squabbles that hinders the growth

9.  Lack of marketing talent in the team

10.  Inability to be a visionary to see the big picture.  While focusing now and operational efficiency, the future, the direction of the company is forgotten

Social Innovation Program for Innovators

FYI.  What is happening in social innovation/entrepreneurship in Thailand (despite the protest and disorder there.  Entrepreneurship is alive and well)

From: IMBA Thammasat <imba@tbs.tu.ac.th>
Date: Tue, Feb 11, 2014 at 4:56 PM
Subject: Social Innovation Program for Innovators

Dear Jorge

We wanted to tell you about an exciting new program that we are adding to our Global Social Venture Competition activities for 2014.

From March 5-7, we will run a special Social Innovation Program for Educators, with an international team of facilitators.  Learn practical, hands-on tools that you can apply immediately in your classroom or social incubator, and share best practices from other faculty who are motivating and inspiring social innovation and social enterprise.

Learn more below and apply at: https://docs.google.com/forms/d/1Zun_mLz9p_Z77Y-9QT4tuzsy5bt92kdlD9XZ141nzzM/viewform

Sincerely,

Edward Rubesch, Ph.D.

Director

Global Social Venture Competition--Southeast Asia

--
IMBA Program,
Thammasat Business School,
2 Prachan rd., Pranakorn, Bangkok 10200
Thailand
Tel : 66 2613 2192, 66 2613 2194
Fax : 66 2224 8107
www.imba.bus.tu.ac.th

Brand finds success marketing men's underwear to women

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5 steps to your next great idea

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From info to infographic in less than 30 minutes

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