12/21/2009

Companies that prioritize technological innovation without also pioneering new business models risk squandering their competitive advantage, asserts management consultant Bill Lay. "They've gotten stuck in what we call the product trough, a kind of quicksand where they spend more and more money developing new products while their valuation drops," Lay writes. To avoid that trap, companies should focus their energies not just on technological innovation but also on developing organizational structures that foster strategic creativity.

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