GUEST AUTHOR BLOG by Gerard J. Tellis, author of "Unrelenting Innovation: How to Build a Culture for Market Dominance."
Today's companies face a paradox.
The creation of a radical innovation brings with it success, market dominance, and profits. But that very success generates complacency and arrogance, which blind the firm to the next big innovation.
Indeed, firms are in greatest danger of failing when they are at the peak of their success.
My coauthors and I call this the incumbent's curse – cursed by one's own success.