Starting from Scratch
Most of us understand that innovation is enormously important. It’s the only insurance against irrelevance. It’s the only guarantee of long-term customer loyalty. It’s the only strategy for outperforming a dismal economy.
A company that manufactures medical equipment was facing a loss of market share in a line of advanced devices used for a particular type of specialized surgery. The company’s leaders thought they could reverse the trend if they could conquer certain technological challenges that were common in this type of device. ...