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Most people would say Tesla is an innovative company. Others would say maybe they push the envelope a bit, for example, with “self-driving” software that is truly amazing but is not yet fully “self-driving.” The other side of the coin is other companies who wait until an idea is thoroughly tested, I’s dotted, and T’s crossed, fully qualified — but maybe at the cost of missing the market.
Innovation is the lifeblood of growth in any industry or channel. Companies with high levels of innovation do better over time than companies that do not have it. So how to address the Innovator's Dilemma? Is it one or the other? Here are four ways to think about it:
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