Established Firms Must Innovate to Anticipate Consumers' Needs

摘要

In the time it takes to read this article, more than 50 start-up companies will have launched in the U.S. History tells us many of those businesses will fail within a matter of years. A few, however, may prove to have a lasting impact on the national economy if they embrace one of the most important keys to long-term success: remaining relevant. Relevance gives companies staying power, and no organization knows this better than Northwestern Mutual, a company founded before the start of the American Civil War. "Although we've been in business for more than 150 years, we know that to attract new generations of clients, we've got to stay ahead of changing needs and behaviors," says Northwestern Mutual's Beth Rodenhuis, Senior Vice President. "For us, that means making a commitment to innovation." Rodenhuis shares three examples that illustrate this philosophy.