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W E OFTEN THINK of innovation as something visionaries draw out of thin air, like manna from heaven. Here’s an innovation story that’s closer to reality: It’s a story of loss, grit, and renewal. It’s also about a never-too-late approach to innovation that enabled a floundering business to launch a second golden age.
Thanks to Professor Clayton Christensen of Harvard University and his 1997 landmark book, The Innovator’s Dilemma , we have a new way of understanding the life cycle of companies and why some market leaders maintain their dominant position and other one-time market leaders disappear. WHAT IS A DISRUPTIVE INNOVATION?
As a result of our conversation, I decided to dust-off an old post, give it a few updates, and pass along my thoughts, which can be best summarized as “ Ideas Don’t Equal Innovation. “ It is my hope to help dispel the myth that ideas are inherently good things.
Why You Need ChatGPT Right Now ChatGPT isnt just a shiny new toy for tech enthusiasts; its a transformative force for productivity, decision-making, and innovation. Whether youre weighing pros and cons or analyzing a market trend, its like having a brainstorming partner on tap. Innovation Engine: Stuck on a problem?
Their greatest fear is no longer their closest competitor, but the startups which, although they live in metaphorical garages and have hardly taken off, have an innovation power that established organizations can only dream of possessing. The Three Tracks of Innovation. Optimizing innovation: Improving the past.
Here's some new research on innovation and a guest post by By Rich Wellins, Ph,D., Senior Vice President, Development Dimensions International (DDI): In the past year, innovation has risen to the top of the business agenda. It seems not a day goes by that the major media writes (or broadcasts) stories in innovation.
Some would say that the term thought leader, once synonymous with futurist and innovator, is more closely aligned with snake-oil salesman today. Don’t get me wrong, true thought leaders still exist; they are just far fewer in number than all the marketing hype would lead you to believe. What is a thought leader?
Few things are more critical to your efforts in increasing your revenue growth and corporate sustainability than understanding the value of disruptive innovation. “Me Too&# companies fight to eek out market share in an attempt to survive, while disruptive companies become category dominant brands insuring sustainability.
Moreover, the true litmus test for a thought leader is when their unique ideas are implemented in the marketplace, they tend to create disruptive innovation, and often change the way we view the world. Let me begin by stating that authentic thought leaders, the real deals, are not created via great marketing and PR alone.
Here’s my candidate for the worst innovation quote ever: Now, to be fair, it’s actually a paraphrasing of Emerson. Nevertheless, it reflects a very common innovation misconception – that it’s all about the idea. Innovation is the process of idea management. Innovation is the process of idea management.
Today I am blogging live at World Innovation Forum (#WIF11). Attending and listening to speakers helps plant the seeds of innovation in my mind. Of course he spoke about disruptive innovation. The example he used was the steel business where the big steel mills were attacked at the bottom by low cost minimills.
From my perspective I’d advise clients to give a bit on valuation, or live with more rigid financial engineering to acquire influence (gain access to markets, knowledge, intelligence, connections or superior business savvy). In fact, many investors simply don’t carry much clout, or add very little value once the deal is closed.
Tenure Inhibits Change and Cripples Innovation : Organizations that favor tenure also tend to be prone to majoring in the minors. All of these traits preclude the advancement of change initiatives and cripple innovation. You see tenure is not synonymous with loyalty, but rather is more often a measure of compliance and survival.
This is the definition of presence, and it is only when we operate in the present that real creativity, growth and innovation occur. Bottom line…success equals focus. Is your rubber-band stretched so tight that it’s about to snap? Efficiency and productivity are not found working at or even near capacity. I Think Not.
All business (for profit or not) provide goods, services, or intellectual property/capital to a market (or markets) for some form of consideration. What about competing against the innovation of others that could cause the obsolescence of your product or service?
His book The Innovators Dilemma has impacted the business world perhaps more than any other book in recent history. According to Christensen, you keep nimble and respond to up-and-coming innovations at the bottom of the market. Integrity Leadership Purpose change Clayton Christensen Innovation'
They were the born leaders we all grew up with. I meant this post to be more of a thinking exercise than a choosing-up sides and fighting till the bitter end drill. They were your class presidents, team captains, club leaders, and the people who held virtually all the available leadership positions you can imagine early in life.
At an organizational level have you focused so much on process improvements and incremental gains that you’ve failed to recognize opportunity and innovate? As I’ve said many times before, things don’t always have to boil down to either/or types of decisions – not everything must end-up on the altar of sacrificial decisioning.
Bottom line…unproven leaders come with a high risk premium. The best leaders are focused on leading change and innovation to keep their organizations fresh, dynamic and growing. Bottom line – leaders who build a static business doom themselves to failure. Successful leaders focus on customer satisfaction and loyalty.
It’s also important to understand that a toxic culture cannot exist if toxic people are not allowed to take up residence. Bottom line - toxic individuals kill productivity, and if allowed to run unchecked can have a much broader and deeper impact on an organization than one might think. I Think Not.
Bottom line…if you have high employee turnover (see “ Cutting Employee Churn “), a fractured corporate culture, a lack of leadership development and mentoring programs, regressive compensation programs, and a lack of C-level focus on talent then talent cannot be your biggest asset. I Think Not.
As the old saying goes “you only get one chance to make a first impression,&# and often times it is the perception of appearance that determines whether or not you are even afforded the opportunity to get up to bat. The truth is most people when first meeting someone will quickly attempt to size them up.
If change and innovation weren’t key contributors to sustainable success, and the enterprise could just run on auto-pilot, you could replace the CEO with a General Manager. That is the question that many a business is forced to ask at some point during their life cycle. The fact is that business is not a static endeavor.
Bottom line…personal responsibility and accountability have always been the ultimate leadership “hot potato&# in that everyone wants to be in charge, but few are willing to take ownership of the never-ending obligations that go along with the privilege of leadership. What say you??? 2 Tweets Who’s In Charge?
While it would be lovely to believe that everyone is well matched to their role and no skill goes to waste, the reality is that the labor market is riddled with the poor allocation of skills. The post When Skills Are Mismatched In The Labor Market first appeared on The Horizons Tracker.
The same goes for your print collateral, which despite the digital takeover still has a place in modern marketing. Granted, pretty packaging isn’t going to close a deal, but being up on graphic/design trends in print and online let perspective customers know that you’re in year 2013, and paying attention.
Don’t utilize your competitions practices, but rather innovate around them and improve upon them to create an advantage that can be leveraged in the market. Innovation, improvements, or these 'Next' Practices should be looked at in all facets of your business value proposition, your core.
Lost Ancillary Revenue : On average, a single account is good for a 30 -40% cross-sell and up-sell revenue increase over time as new products, services, joint ventures etc. Over a 10 year period of time, assuming only 2 annual referrals, without any cross-sell or up-sell value being added-in, you just lost another $200,000 dollars.
Bottom line…Don’t manipulate for personal gain, rather facilitate for mutual benefit. It's sad that many potential leaders look past this and end up frustrated when they can't get people to act, little do they know they haven't developed trust. Thanks for stopping by David. link] Charles Hey Mike, you hit it right on.
They are the ones innovating and breaking-down barriers. Bottom line…the way you identify leaders is not through psychological profiling or some miraculous transformative process. They're the ones on behalf of the team who step up and do a faceplant with an oncoming tomato.
Are you wondering how to most effectively use a B2B video marketing strategy to attract leads and sales for your company? Many companies today struggle to mix B2B video best practices into their B2B marketing strategy. For example, in this video , Mailchimp teaches how its customers can set up email campaigns. You’re not alone.
The word no ends discussions, stifles creativity, kills innovation, impedes learning, and gates initiative. No is not all it’s cracked-up to be…Still don’t believe me? It means your vision is not understood, your team is not aligned and your talent is not performing up to par.
Furthermore, a business plan, strategic plan, marketing plan, capital formation plan, exit plan, etc., Business models must be designed with great care at the outset, but they must also be fluid in order to react to changing market conditions and avoid becoming stagnant. are also not business models. I Think Not.
From blue ocean strategy to Michael Porter’s five forces, Vijay Govindarajan’s reverse innovation to Richard D’Aveni’s hypercompetition, great thinkers and their ideas directly effect how companies are run and how business people think about and practice business. Best practice only caught up with the great thinker’s ideas in the 1990s.
A person could either take several minutes to explain the evolution of technologies, mediums, shift in content paradigms, engagement practices and market dynamics that came together to make the Internet a more valuable and efficient space, or they could just utilize &# social media&# as a descriptive aid to make the connection. I Think Not.
Why You Need To Play With AI Right Now AI Tools arent just shiny new toys for tech enthusiasts; theyre a transformative force for productivity, decision-making, and innovation. Whether youre weighing pros and cons or analyzing a market trend, its like having a brainstorming partner on tap. Innovation Engine: Stuck on a problem?
That said, I have little use for social networking junkies who collect friends/followers/contacts just for the sake of watching the numbers go up, while adding little or no value to their network. We have all been the victim of somebody's saved up tweets-all blasting out at one time. And then the cynic in me emerges.
How many times have you put up with, or overlooked certain weaknesses in people because of their considerable strengths in other areas? The sad thing is they don’t just exist on the golf course… My bottom line is this…real leaders don’t accept mediocrity - they constantly seek improvement. Know the type?
Now imagine the workforce, processes, and equipment as the walls, fixtures, and foundation of the organization below, and your customers, market factors, and environment as the external pressures being applied to your building. Not just from the bottomup, but from the basement. That’s not a sustainable way to grow any business.
Bottom line…If you’re a leader and not an avid reader, you’re wrong. Up until a few years ago Rick Warren read a book every single day. With what I’ve noted thus far I’m always amazed at the number of executives who don’t keep up with their professional reading. Do I have your attention yet?
Most of us are likely familiar with Simon Sinek’s Golden Circle model , which posits that a company’s ‘ why ’ is its most significant differentiator in the market. The second step is up to companies – companies also need to focus on retaining diverse talent, which can be difficult.
Bottom line…I’m in awe of those who have mastered the art of brevity, and after looking back at this post I must admit that I still have some work to do… Share and Enjoy: View Comments Anand Very nice article to mention about the brevity – Don't beat around the bush, come to the point. I Think Not.
There was a lot more common thinking than critical, innovative thinking. The bottom line is that I really like him, I just wished he had more new material to share. Leaders get too caught up in trivial things and don’t pay enough attention to leadership development. Up next was Calos Brito, CEO of Anheuser-Busch InBev.
Bottom-Line… [link] Dr Sarah Morris Great post! Significance Your Story Matters Service Above Self Capital vs. Influence Dealing with Tough Times The Lost Art of Brevity The Leadership Vacuum Shut-up & Listen Stop Selling and Add Value Social Media Influence The Influence Factor Ideas Dont Equal Innovation Indispensable?
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