Examples like AirBnB are a showcase of how new enterprises that appear out of nowhere can stir up a market: After only four years it is able to offer 650’000 rooms globally. The hotel chain Hilton needed a full 93 years for the same.
Why are established businesses having such a hard time to be innovative?
The more successful a business is, the bigger the risk of it becoming inert and neglecting innovation. This is why such enterprises are known as “Fat Cats”. Instead of looking for new business fields they hesitate in fear of slaughtering their cash cows. Thus leaving the slaughtering to their competition!
But in order to survive in the long term it is necessary to improve existing business models as well as searching for new ones. This is a challenge since it requires very diverse skills.
You can read more on how such interlocking works in German on our Lean Innovation Blog.