Ever wondered why some organizations move from being good to great to greater to greatest and then suddenly fail?
The answer lies in the way these companies handle innovation.
When an organization is in its early stages, emergence of new ideas are a norm and this is exactly what makes them successful. However, in the relentless pursuit of achievement and growth, the very same ideas become reasons of an organization’s failure because they fail to innovate them any further. This is called innovator’s dilemma. Think of all those organizations who maintained leading positions for decades and then lost their sheen: IBM, Blockbuster, Xerox, Microsoft (until Satya Nadella took over)
Surprisingly, the same concept applies very well to individuals. We work very hard to achieve something professionally, assuming that it is going to bring us happiness and a sense of self-worth. Eventually, our professional success achieved at the cost of personal relationships becomes the very reason of sadness, loneliness and sorrow. I would call this as a personnel dilemma. Think of all the great leaders who had a troubled personal life: Steve Jobs, Nelson Mandela, Bill Clinton, Bill Gates etc.
Harvard University professor Clayton Christensen explains both concepts beautifully in books The Innovators Dilemma as well as How will you measure your life.