Lessons in Innovation from a Legacy Firm

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 there 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.