Final answer:
Large companies can maintain market leadership by embracing relentless innovation and risk-taking, backed by market intelligence and strategic investments.
Step-by-step explanation:
To infuse their planning process with new entrepreneurial vigor and maintain market leadership, large companies often rely on a strategy of relentless innovation and adaptability. This involves constantly searching for ways to produce products more economically or to innovate products with desirable consumer features. As highlighted by Gregory Lee, former CEO of Samsung, the pursuit of innovation is paramount, opening up a world of technological possibilities and granting a temporary competitive advantage. It's critical to recognize that innovation often yields a window of above-normal profits until competitors manage to catch up.
Alongside this, large companies can also seek fresh capital and business intelligence through involvement with angel investors and venture capitalists. This not only helps overcome information asymmetries but also introduces external perspectives that can challenge complacency and stimulate entrepreneurial thinking. Crucially, this approach supports a culture where calculated risk-taking, backed by solid market research and strategic investment, underpins long-term growth.