Excellent execution can keep a company vibrant forever? Not necessarily.

Look at the 11 companies from "Good to Great" — now some have already closed down, while others have become mediocre market players. This phenomenon is quite sobering.

Management guru Jim Collins talked about the "Flywheel Effect" — pushing each link to the extreme to accelerate the entire system. It’s very convincing. But there’s a deadly trap here: what if the direction of the flywheel becomes outdated? The faster it spins and the more energy it accumulates, the more terrifying the fall becomes.

In simple terms, without innovation, excellent execution ultimately means running faster in the wrong direction.