To remain competitive, companies must innovate, adapt and reinvent themselves constantly. Rapid market transformations, changes in consumer expectations or the emergence of new technologies leads some to believe that it is now necessary to constantly renew itself to prosper. But is this really the case? Should we absolutely reinvent yourself to succeed, or are there other ways to follow to ensure the sustainability of your business?
Reinvent yourself to stand out
In many sectors, the pressure to innovate is omnipresent. Businesses sometimes have to review their strategy, offer or economic model so as not to be distanced by competition. The rise of startups and the agility they show does not leave room for immobility.
Take the example of Apple, a company often cited as a model of success in terms of innovation. Under the direction of Steve Jobs, the company has continuously reinvented its products and services, going from Macintosh to the iPhone, each time upset the established codes. This kind of reinvention allowed Apple to maintain its leading position. However, this strategy also includes its share of risks. When you reinvent yourself too often or too radically, you can lose the very essence of what made our strength originally. As such, reinvention is not a guarantee of success, it can also lead to a loss of identity.
A study of French Tech: innovation, key to success?
To better understand this dynamic, it is interesting to look at the results of a survey carried out in 2022 by French Tech with 300 French startups. According to this study, 65% of young companies believe that their success is based on their ability to innovate, anticipate consumer needs and adapt to new technologies. This figure shows how perceived reinvention and innovation are perceived as essential levers. However, this same study reveals that the challenges linked to reinvention are far from negligible. More than 50% of the startups questioned mention difficulties related to change management, human resources management and the financing of a constantly evolving model. In other words, constant innovation is perceived as essential, but it also includes risks linked to stability and internal management.
If we push the reflection further, we see that permanent reinvention can lead to a form of “fatigue of innovation”. Managers are often forced to reinvent their product or service to monitor the pace of competition, but this perpetual renewal can create confusion with customers, teams and partners. The challenge is therefore to find a balance between the innovation necessary for competitiveness and the preservation of the company’s DNA.
Reinvent yourself or develop?
Reinventing yourself at all costs is not always the solution. More and more companies prefer to evolve rather than reinventing themselves completely. This evolution process consists in making regular adjustments according to market trends, without radically changing the management of the company.
A study carried out in 2023 by the Management Research Center (CRG) of the École Polytechnique shows that successful companies are not necessarily those that are constantly reinventing themselves, but those who know how to evolve gradually. These companies adapt to changes while preserving a clear vision and strategic stability. This process makes it possible to maintain continuity in the identity of the company while meeting new expectations of the market.
The examples of large French companies like Michelin or Danone illustrate this principle well. After more than a hundred years of existence, these two giants have been able to turn deeply without upsetting their fundamental values. Michelin, for example, has diversified its activities beyond tires, investing in cards, guides and digital services, while retaining its technical expertise and its reliability image. Danone, on the other hand, has reinvented itself in the field of healthy food, emphasizing innovation while remaining faithful to its mission to improve the health of consumers.
These examples show that the key to success lies in the ability to evolve intelligently, without cutting off from its roots. It is not reinvention at all costs that guarantees success, but rather a measured approach that takes into account new expectations without denying its history.
When reinvention becomes a trap
Innovation continues, if it is not accompanied by appropriate management, can quickly turn into a trap. A poorly controlled reinvention can destabilize teams, disrupt customers and lead to loss of confidence. Too fast or too frequent change can cause “fatigue of change” in employees, which can impact their motivation and efficiency.
A study conducted by McKinsey in 2021 reveals that almost 70% of transformation projects fail, largely due to poor change in change. Managers who seek to reinvent themselves constantly must therefore ensure that this dynamic with clear communication and a well -defined change management strategy. It is essential that employees feel involved in transformations and that they have a framework to adapt to developments.
This involves benevolent management, support for teams in their new missions and continuous training to help them understand and accept change. It is not reinvention itself that is the problem, but rather the way in which it is conducted.
