By Claudio FeserSome firms can resist the aging process: they adapt and thrive in dynamic markets, and sometimes they create value for decades. I call them Serial Innovators.The average life expectancy of firms at listing is about 15 years, and only 1 in 20 lives longer than 50 years. Set up on the back of an innovative idea, firms grow, and sometimes they blossom into admired world-class firms. But then they age. Their development slows, they lose their momentum, they become bureaucratic, their profitability decreases.
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