Create Competitive Advantage with Innovation (Collection)
by Michael Lord, Donald deBethizy, Jeffrey Wager, Inder Sidhu, Alpheus Bingham, Dwayne Spradlin, Luke Williams
1. Introduction
“The race is not always to the swift, nor the battle to the strong, but that’s the way to bet.”
—Damon Runyon
Placing Bets
The proclivity to bet on the “swift” might serve you well, especially when it comes to placing bets at the racetrack. But in a new and complex world, few people actually know what “swift” or “strong” means in every context. For example, an executive may know what a “strong” market analyst or a “strong” manufacturing department head looks like when it comes to hiring someone. Yet that same executive might find it hard to identify a “strong” pharmacokineticist, which is a new, highly specialized branch of pharmacology. Indeed, it’s because of this difficulty that universities issue PhDs in pharmacokinetics. ...
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