Innovate Faster or Die: How Elon Musk Gains a Competitive Edge
Innovation is absolutely a vital key to gaining a competitive advantage in your industry…
At MIT Elon explained: “In terms of our competitiveness, it mostly comes down to our pace of innovation. Our pace of innovation is much, much faster than the big aerospace companies or the country driven systems…
This is generally true. If you look at innovation from larger companies and smaller companies, smaller companies are generally better at innovating than larger companies…because smaller companies would die if they didn’t try innovating.“
Innovate or die.
And don’t let the small size of your company deter you…small, smart and technically strong often trumps large, clunky and wasteful.