Since innovation begets inertia, there is a need for companies to recycle their resources with respect to both innovation and inertia to differentiate themselves in a competitively driven market. There seems to be considerable inertia in the supply of entrepreneurs. One reason is that the culture affects the supply, and the culture itself changes only very slowly.
- This story sounds like a tall tale from Canada’s Far North, but it’s completely true. It involves a watermelon, some frustrated locals and one stubborn grocery store. And it reveals a few universal—but all-too-often overlooked—business truths.
- Food has to travel a long way—by plane—to get there. As a result, everything is expensive. Eggs are $8 a dozen at the local grocery store. Apples are around $6 a pound.
- I’m not exactly sure why the store wouldn’t slice the melon. But part of it had to be simple inertia. They had a system place and they were sticking with it. Their approach had worked up until then, so there was no reason to change course.
“The past is no predictor of the future, after all. Successful companies are constantly questioning their processes. They’re always gathering customer feedback and finding ways to tweak their offering to better meet demand.”