Jack Welch, former CEO of
GE, put it: "The operative assumption today is that
someone, somewhere, has a better idea; and the operative compulsion is to
find out who has that better idea, learn it and put into action – fast."
In fast-moving sectors it is the new
enterprises with growth potential that are often the most
forcing established enterprises to respond to the change by themselves
becoming more innovative. Encouraging the emergence of new firms is a strong
force for innovation in many sectors.