By Eric Knight – The art of endurance is increasingly rare. Over the last 50 years, the average lifespan of S&P 500 companies has shrunk from around 60 years to closer to 18 years.
For each company that has lasted more than a century, there are countless more that have failed. Recall the glory days of Polaroid, Kodak, and the F. W. Woolworth Company …
Don’t just build competencies, build dynamic capabilities.
A firm can buy competencies, but capabilities are harder to develop and are the key to sustaining competitive advantage. more> http://tinyurl.com/p5fq9vd