How Runaway Efficiency Stifles Innovation

How Runaway Efficiency Stifles Innovation

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“The High Price of Efficiency,” a new report published by Harvard Business Review, might just challenge our ideas of disruption, innovation and business as a whole.

According to the report, we’ve been looking at mega giants like Amazon, Google and Facebook all wrong. Companies looking to dominate their marketplace see these monoliths as champions of efficiency, lean startups that transformed their industries. This is undeniable. However, there’s a big catch to this disruptive process. In nearly every industry, small businesses are being gobbled up and incorporated into massive, world-dominating corporations. These runaway success stories may be efficient, but at what cost?

This trend results in social unrest, structural fragility susceptible to the slightest problems, runaway corporate welfare and less entrepreneurship and innovation.

Today, many businesspeople worship at the feet of the industry gods. Maybe we should put efficiency aside and start breaking up the monopolies that are strangling true innovation in the country. The question is, where to start? Inc.com, 1/3/2019