Doing the same thing better, time after time, is ultimately a prescription for failure. Why? Because people outside your company will figure out a better way and beat you. We see it all the time, in every industry. CEOs and boards who believed they could maintain their market-leading position through incremental change. They often say, “No one saw it coming.” That is a rationalization. Those who are forward looking enough to plan for major change can transform their companies and create new value.
Lou Shapiro, CEO of Hospital for Special Surgery (HSS) in New York City, is definitely a forward-looking CEO. He understands innovation and the need to be a continual learner. HSS is the number one-rated hospital in the U.S. in orthopedic surgery. No one does it better! With all of their success, Lou still told me, “The riskiest thing we can do now is to try and stay the same.”Read More