“It is easy to underrate how long it takes to implement a new idea. Researchers estimate that it takes 30 years for a groundbreaking development to progress from initial idea to a commercially viable product.

Middle management often extols the value of short-term strategies that react to market circumstances. Kodak used short-term strategies to keep its analogue photography business going. But the expression 'short-term strategy' is in fact an oxymoron, because trying to reach short-term goals is not strategic by definition.”