I'll cite a couple of examples. First there was the difficulty of Firestone's tyre recall last year. This illustrates that even a brand name that has glittered for almost a century can be frighteningly quickly challenged. Another example is that of the market share challenge facing the U.S. automobile industry. That is an enormous figure and the American companies will undoubtedly respond to it with strong results.
Quality is universal.
It is not only the Internet but globalization that has made product quality transparent to a degree that has meant that the notion of a localized product being able to survive for any period of time is increasingly unlikely unless it meets global leadership demands. It is management innovation. Management innovation makes technological innovation possible and profitable. However, we are talking about a different kind of management innovation. It is not incremental, industrial engineering-style management innovation.