When large companies need to solve a consumer problem often the fastest route to market, with the lowest risk, is to buy a company that already has a solution.
However, when consumer behavior has changed rapidly and getting to market with the right solution is critical, I believe building innovation is the better choice. There are many examples which show that having the right solution is more important than having the first solution. It’s here that the resources of large companies give them an advantage over the startup ecosystem. Corporations who leverage expertise in consumer research, have continuous improvement programs, can access to market data, conduct data analysis and commit resources enable them to react with products that better fit consumer/market needs.
Are there other competencies larger businesses can leverage to their advantage to out innovate competitors?
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