MIAMI — Correct Craft CEO Bill Yeargin doesn’t want his companies to follow the path of Blockbuster and Kodak.
The pace of technology is “mind blowing,” he says, and companies that don’t keep up will render themselves obsolete the coming decade. That’s why Correct Craft is investing millions of dollars to form a subsidiary called Watershed Innovations.
The company is pulling people from all of Correct Craft’s nine companies — including Nautique, Centurion, Pleasurecraft Engine Group and Action Parks — to form task forces that identify, evaluate and implement exponential technologies for Correct Craft and its subsidiaries.
“Some are saying that 40 percent of Fortune 500 companies today are going to be out of business because they didn’t keep up,” Yeargin told Trade Only Today at the Miami International Boat Show on Friday. “The things happening in technology are just mind blowing, from robotics, bio-tech, virtual reality, augmented reality — the world is going to be completely different, there is so much change taking place.”
Watershed Innovations will seek innovative solutions to complex challenges that will change the marine industry.
The Watershed Innovations teams, along with external resources including both universities and research centers, will be pursuing both sustaining and disruptive technologies for our products, processes and facilities.
“I think companies that aren’t doing what we’re doing won’t be around in 10 years,” Yeargin said.