Five Days Of Newspapers Are No More 'New' Than Five Hummers Rolling Off Assembly Line
Thinking back on the Minneapolis Star Tribune shortly after it was bought by McClatchy, Steve Yelvington ruminates on the difference between competence and innovation.
McClatchy turned out to be very good at what it had set out to do: run newspapers profitably. In the following decade, the Star Tribune threw off vast quantities of cash. McClatchy used to that cash to pay down its considerable debt and position itself for its acquisition of Knight-Ridder.
Operational competence is a virtue for a company, but it’s not the only one, and it’s an entirely different strength than innovation.
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