So companies have to be very schizophrenic. On one hand, they have to maintain continuity of strategy. But they also have to be good at continuously improving.
Sentiment: NEGATIVE
Lots of companies don't succeed over time. What do they fundamentally do wrong? They usually miss the future.
Great companies have to manage the cadence of what they do.
A company gets better at the things it practices.
Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
It's competition that forces companies to get out of their complacency.
When you look at a company that's already succeeded or is at the very top of its game, it isn't necessarily when it's executing well. It tends to be peacetime - you've defeated the competition, you have the highest margins, the highest multiple.
If a company is not doing well, it doesn't necessarily mean that it is not a good company.
Somehow, the company must stay true to the founding vision while avoiding the pitfalls of rapid growth - and perhaps survive the hiring of a previously successful executive who doesn't work out.
Personally, I feel that a company which looks at problems of other companies and learns from their mistakes is a successful one.
I think that companies always become complacent, over time. Or most companies, that is.