Found this in another thread, and I have rarely agreed more with something posted on this board. We are stuck in the old ways which is preventing us from moving forward. We need to change our entire way of doing business, not only rely on new products to keep us afloat. Op is @PNg7w3c-idu:
99% of the people here are good at their jobs. The most talented people that I have ever worked with in the industry.
The system is what beats everyone into submission. Over and over sustainability of a category has been brought up and that is a big part of the institutionalization of the industry. Retailers expect margins that are no longer achievable with the added bells and whistles. Customers only want commodity in value prices or licenses that have good visibility. Because the consumer base is steadily shrinking and purchase habits are changing. What hasn’t changed is production, marketing, retail and a host of other factors. The Chinese are moving on from the dirty factory businesses yet we still look to create in the same way. We still cater to the remaining retailers who want more and more specialized product for smaller and smaller runs while our global business runs very differently. Innovation is always, always asked of product. Why is innovation never pushed in production, or in finance, retail, or shipping??? We need to look at this business end to end rather than just the product. Then you can ask yourself if you really need that much product to begin with. We all talk about the 80-20 rule but no one, and I mean no one practices it.