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Podcast: HBR On Strategy
Episode: Lessons in Innovation from a Legacy Firm
Description: Pencil-maker Faber-Castell has been in business since 1761, but it is still innovating and adopting new technology.
In this episode, Harvard Business School associate professor Ryan Raffaelli discusses his case, “Faber-Castell.” He explains how the company balances stewardship of its brand with innovation and evolution, and how leaders decide when—and when not to—adopt new technologies. Plus, he breaks down Faber-Castell’s “generational” approach to formulating strategy to sustain their business for the longer term.
Key episode topics include: strategy, product development, innovation, family businesses.
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