Just because mid-size firms tend to operate in mature markets does not mean they are at the mercy of outside forces. Evidence from our practice indicates these firms have room to innovate and prosper. Management’s mindset matters. Specifically, how they choose to scale innovation.
Innovation does not have to mean new product, services or other budget busting endeavors. It can also be about the way a firm goes to market. Can it go to market with new or better support structures? Can it provide better delivery mechanisms? Is there room to go to market supported by improved internal processes? There is usually an opportunity to mine a company’s experience base to establish or maintain better relationships with customers and vendors. Viewed as a package of conservative adjustments these types of change combine to form the type of innovation that serves to create a buyer’s preference and a competitive plus.
There is nothing dull about being mid-size, mature and strongly position in the market – all while prospering!