AT Kearney recently completed a study where they found top executives at manufacturers, software companies, and IT services firms were determined to concentrate on nurturing existing product lines, rather than invest in new technology development. In Poll: U.S. has conservative tack on innovation, they say AT Kearney found roughly 90% of executives were concerned about “falling behind”, but were doing little about it. If that isn’t a tech entrepreneur’s call to arms, I don’t know what is.
The problem with Corporate America is not a lack of resources or talent, but an unwillingness to take risk. Executives have little incentive to do the “next big thing.” Good.
Let the little guys build it for them. Then the corporate bigwig can buy it for 2100 times 2020’s forecast revenue, take their $100K bonus for doing such a “great” job, and drive happily away to their 4 bed, 3 bath, stick and stucco in suburbia, relishing in their victory.
The risk takers, the thinkers and doers, the ones that will keep the US at the forefront of innovation leadership, will be sitting on a beach in a faraway land, sipping fruity cocktails with little umbrellas in them, and relishing in theirs.