Monkeys see, monkeys do. But these monkeys have also graduated from Harvard Business School.

In a village lived a man who made money by selling caps. In summer, the business thrived well, as people would buy caps to shield themselves from the hot sun. As summer ran through most of the year, and the brief winter made its presence only in the early mornings, he ran a fairly brisk business throughout the year.

That day the sun was particularly harsh and its angry rays penetrated the cap he was wearing. Even the bamboo basket on his head in which he had stacked the caps was a poor defence against the sweltering heat. He decided to rest under the canopy of a big banyan tree. He wiped his face with a towel that he always carried on his shoulder. He stretched his legs. “Hardly have I sold a couple of caps today. No wonder the basket was heavy,” he muttered.

The leaves on the banyan tree rustled and sent down a cooling breeze that soothed him. Soon he drifted into a peaceful sleep.

An hour later, he stirred and stretched himself. Feeling refreshed, he reached for the basket; but stared and rubbed his eyes in disbelief. The basket was empty. Empty. He looked around. Not a single human soul in sight.

An excited chatter coming from the trees caught his attention. He looked up. More than fifty monkeys were donning the caps and having a frolicky time.

Monkey sitting on the tree, watching; Drawing instructions

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The man got mad.

He picked up a stick and waved it at them. The monkeys bared their teeth menacingly. He pleaded, but they looked away.

Frustrated, he kicked the basket wildly. He pulled the cap from his head and threw it away.

The monkeys looked at each other, and they too threw their caps.

The man picked all the caps and put them back into the basket. Whistling a joyous tune, he went home.

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Years passed. The cap seller’s son had learned all the tricks of the trade and started assisting him in selling the caps. On one hot summer day, the young man passed through the same forest his father had passed through once. He decided to rest under the same tree. Soon, he dozed away.

The monkeys came down the tree, and donned themselves with the cap and went back to the tree. Their ruckus woke the sleeping man.

The man did not panic at the sight of an empty basket. He smugly threw down the cap on his head and looked at the monkeys.

The monkeys gave the man a curious glance and continued their game. The man tried all the tricks his father had taught him, but nothing worked.

Suddenly his face brightened. ‘Why did I not think of it,’ he told himself, ‘Even these monkeys would have been trained under their fathers, just like me’.

Nothing much could be done, but then he had learned an important lesson. He should have brought a basket that could be locked. He should have never taken a rival for granted. He should always have stayed tuned to the changes around him and modified the strategy accordingly.

********

A few more years passed. The cap seller’s son was sad that his business was becoming very dull. People weren’t buying caps as before. His feet had grown weary and his throat parched, shouting his wares. He thought he would visit a temple. May be he would pray, and then he would also eat some ‘prasad’ (edible offerings made to god) and quell the hunger pangs.

He went to an enclosure to leave behind his slippers. Something caught his attention, and then his eyes widened. It was the old monkey manning the next enclosure. Three young monkeys pranced about briskly, selling colorful umbrellas. Men and women, daunted by the hot sun and the long flight of steps leading to the temple, thronged here and bought them, paying whatever price the monkeys demanded.

The young man knew why his caps didn’t sell. People were looking for more fashionable alternatives to keep their heads cool. He had the most vital lesson to learn. Pace of innovation must keep with or exceed the pace of change. When changes extend opportunities, you must be quick to grab them. The window of opportunity doesn’t remain open too long.

********

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http://bizcovering.com/business/innovation-strategies-part-one/