It’s usually seen as a good thing for a business to have a long, proud history. It certainly helps on the branding front. But look a little closer and you’ll find that your recent history has all sorts of often negative effects on what your company does today.
“If you want to understand why a company does what it does, just look at its business challenges and situation five to ten, or more, years ago.
“Chances are that most of what the company does simply grew out of the way it met past needs, and that these business practices were passed along as part of the company’s culture – 'the way we do business' – over the years, without being reviewed and reconstructed,” says MIT senior lecturer Jonathan Byrnes in the latest of his Profit Levers podcasts, shared below with Management Today.
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