The dangers of prioritizing short-term profitability over innovation

02/21/2014 | Harvard Business Review online/HBR Blog Network

It might be tempting to curtail innovation spending to focus on growing the core business, but this is ultimately a recipe for disaster, writes Scott Anthony, managing partner of Innosight. Such a strategy might generate short-term results, but no business model will last forever. "The companies that last over long periods of time do so by creating new products, services, and business models to replace yesterday's powerhouses," he writes.

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