Executives need ample flexibility to respond to the market. That means both reducing costs and increasing innovation.
Sentiment: POSITIVE
Marketing executives like big budgets, as big budgets make it easier to grow the top line.
Innovation requires resources to invest, and you can see many companies pulling back and going into an intense protective mode in a major extended period of financial distress.
Flexibility has become a modern day value that everyone wants. But flexibility comes with a cost.
Most of us understand that innovation is enormously important. It's the only insurance against irrelevance. It's the only guarantee of long-term customer loyalty. It's the only strategy for out-performing a dismal economy.
You need to make certain decisions to expand your market.
When companies minimize their costs, they can spend more on R & D and marketing. It's just very logical.
A company's best advantage should be a quality product offered at the right price. That fair competition is what drives innovation.
All companies can benefit from fostering a more flexible environment (creating a place where the most talented, industrious, and entrepreneurial people want to work) and relinquishing hierarchical control to favor a results-oriented meritocracy.
Second, we have to make the most of the strengths we have, the amenities that many of our competitors cannot replicate. But again, those advantages won't mean much if we don't do a great job with the basics of our business.
If companies don't think systemically enough - if they try to capture too much of the value - eventually, innovation moves somewhere else.
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