You can’t read an annual report, quarterly earnings release, or new product announcement without seeing some senior executive talk about the importance of innovation. And we agree that it is vitally important. In a world where everyone has the same access to capital, resources—human and otherwise—and technology, the only thing that is truly going to provide competitive advantage is innovative products and services.
Need proof? Would you rather be Google or Bing? Wegmans supermarket or Albertsons? Doctors Without Borders or Yele Haiti, the hopelessly incompetent (and now defunct) charity for Haitian relief run by Wyclef Jean?
Innovation is obviously a huge, huge deal.
So we are amazed ...