What are they R&Ding that would drive them to bankruptcy?

It's what they're not R&Ding that would cause them to not be competitive and thus go bankrupt:

• Restaurants - new recipes to keep customers coming
• insurance - mostly innovation in marketing and self-service
• real estate - lower cost materials (for new construction), faster pairing of buyers to sellers, etc
• farming - better yields (esp GMOs), efficient land and water use, storage, etc
• radio stations - access to customers outside of radio frequencies (e.g. apps), constantly changing radio programs to differentiate from competitors, etc
• schools - new teaching methods, adapt to new tech, etc
• book publishing - marketing(also applies to video game publishing)
• auto parts dealer - inventory and supply chain optimization, adjusting to changing markets (e.g. EVs), etc
• grocery stores - supply chain, marketing, faster checkout, more customers per square foot
• nursing and medical home care - nursing is always evolving, esp geriatric care

Pretty much every company needs to innovate or they'll get outcompeted, that's the way market economies work. The only companies that don't need to innovate are monopolies, and we generally oppose those because stagnation isn't good.