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Why Businesses Fail? S01E05
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The One Trick Pony Or, How Lack of Product Development and Innovation can lead to business failure If we scan the pages of business history, we will find many organizations that once dominated the market segments they operated in. But over time, they simply faded away. The reason in most cases was lack of innovation or ability to adapt to changing market conditions. Focus on a single product or a service is not a bad way of doing business. In high precision industries such as medicine, opti...