Henry Kressel and Norman Winarsky
At the turn of the century, the average lifespan of a major company was 67 years. Now, if a company is on the S&P 500, its average lifespan is about 15 years. The unfortunate fact is that many companies begin with great success and fail to renew themselves. It’s those that pursue a continuous process of growth through innovation on all fronts—business model, products, marketing strategy, and business relationships—that thrive.