The maker of TurboTax and QuickBooks software is a master of self-disruption: a skill every business increasingly needs and most don’t have. The company’s method, which isn’t simple, works because it’s hard-wired into the culture. And is it ever effective: After 34 years and several tech revolutions, Intuit has defeated all challengers and is delivering knockout results: Its sales have risen 36% since 2012 to $5.2 billion, profits are at an all-time high, and its return on capital is a towering 60%. At 19.3%, Intuit’s research & development spending as a percentage of sales is higher than Alphabet’s or Amazon’s.
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