It is historical assumptions of what works that prevents organizations from generating new ideas. After all, you can't change your core beliefs about your organization or industry unless you change something in your perspective about your business, your industry, your customers, or yourself.
Gallup's 2021 Great Jobs survey revealed that in the United States only 9% of nonmanagerial employees strongly agreed that they are free to take risks to improve products and services or solutions.
Don't use your company's age or industry as an excuse for mediocrity. There's no such thing as an average or old fashioned business, just average or old fashioned mental models. Choose to be great.