Small firms have much to learn from the success of Netflix, which proved its willingness to innovate beyond its original product by introducing a video-streaming service, Chris Griffiths writes. The lesson for small firms is that "[e]ven if you can't always be on the cutting edge, your business and product offering must evolve," he writes. "And while being two steps behind may still be highly profitable and ultimately less risky, you can't bury your head in the sand and assume business as usual is sustainable."

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