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The 30 Essential Cured Meats To Know - Food Republic
Jess Kapadia
June 7, 2016

Welcome to Food Republic’s illustrated roundup of 30 of our favorite pressed, stuffed, dried, fermented and thinly sliced cured meats. Get to know your new go-to charcuterie, and break out the wooden board for a world-class presentation of time-tested favorites and exotic new friends.
beef  charcuterie  cured_and_smoked  delicatessens  hams  meats  pork  prosciutto  sausages  taxonomy 
may 2019 by jerryking
Marginal gains matter but gamechangers transform
25 March/26 March 2017 | FT | by Tim Harford.

In the hunt for productivity, the revolutionary long shot is worth the cost and risk.

.............................As Olympic athletes have shown, marginal improvements accumulated over time can deliver world-beating performance,” said Andrew Haldane in a speech on Monday, which is quite true. Mr Haldane, the Bank of England’s chief economist
........The marginal gains philosophy tries to turn innovation into a predictable process: tweak your activities, gather data, embrace what works and repeat.......As Mr Haldane says, marginal improvements can add up.

But can they add up to productivity gains for the economy as a whole? The question matters. There is no economic topic more important than productivity, which in the long run determines whether living standards surge or stagnate.
........
The idea that developed economies can A/B test their way back to brisk productivity growth is a seductive one.

An alternative view is that what’s really lacking is a different kind of innovation: the long shot. Unlike marginal gains, long shots usually fail, but can pay off spectacularly enough to overlook 100 failures.
.....
These two types of innovation complement each other. Long shot innovations open up new territories; marginal improvements colonise them. The 1870s saw revolutionary breakthroughs in electricity generation and distribution but the dynamo didn’t make much impact on productivity until the 1920s. To take advantage of electric motors, manufacturers needed to rework production lines, redesign factories and retrain workers. Without these marginal improvements the technological breakthrough was of little use.
....Yet two questions remain. One is why so many businesses lag far behind the frontier. .......The culprit may be a lack of competition: vigorous competition tends to raise management quality by spurring improvements and by punishing incompetents with bankruptcy. ....
But the second question is why productivity growth has been so disappointing. A/B testing has never been easier or more fashionable, after all. The obvious answer is that the long shots matter, too.
.....In a data-driven world, it’s easy to fall back on a strategy of looking for marginal gains alone, avoiding the risky, unquantifiable research (jk: leaps of faith). Over time, the marginal gains will surely materialise. I’m not so sure that the long shots will take care of themselves.
adaptability  breakthroughs  compounded  economics  game_changers  incrementalism  innovation  leaps_of_faith  marginal_improvements  moonshots  nudge  organizational_change  organizational_improvements  organizational_structure  power_generation  production_lines  productivity  productivity_payoffs  slight_edge  taxonomy  thinking_big  Tim_Harford 
march 2017 by jerryking
The value shift: Why CFOs should lead the charge in the digital age | Deloitte US | CFO Program
William (Bill)J. Ribaudo, a partner at Deloitte & Touche LLP

Given CFOs’ fiduciary responsibility to deliver shareholder value, it makes sense that they should be leaders in digital business model innovation. When the evidence shows that each marginal dollar can be spent to generate value at a multiplier of 1, 2, 4, or 8 times revenue.

Four business models driving value

The rise of intangibles as a part of total market and corporate value has occurred in conjunction with the proliferation of new business models. Our research, in fact, shows that almost every company fits into one of four types business models, regardless of industry or function—and each one corresponds to a shift in technology and asset structure. Specifically, companies predominantly fall into one of the following categories, based on the way they create value:

Asset Builders. These companies build, develop, and lease physical assets to make, market, distribute, and sell physical things. Examples include everything from automakers to chemical manufacturers, big box retailers, and distribution and delivery businesses.
Service Providers. These companies hire employees who provide services to customers or produce billable hours for which they charge. Examples include consulting firms and financial institutions.
Technology Creators. These companies develop and sell intellectual property such as software, analytics, pharmaceuticals, and biotechnology. Examples include software, big-data tools, and medical-device companies.
Network Orchestrators. These companies create a network of peers in which the participants interact and share in the value creation. They may sell products or services, build relationships, share advice, give reviews, collaborate, co-create, and more. Examples include online financial exchanges, social media businesses, and credit card companies.
business_models  CFOs  Deloitte  digital_economy  ecosystems  information_flows  intangibles  multiplier_effect  multiples  networks  orchestration  platforms  physical_assets  shareholder_value  taxonomy  valuations  value_creation  value_migration 
september 2016 by jerryking
You Need an Innovation Strategy
JUNE 2015 | HBR | Gary P. Pisano.

Without an innovation strategy, innovation improvement efforts can easily become a grab bag of much-touted best practices: dividing R&D into decentralized autonomous teams, spawning internal entrepreneurial ventures, setting up corporate venture-capital arms, pursuing external alliances, embracing open innovation and crowdsourcing, collaborating with customers, and implementing rapid prototyping, to name just a few. There is nothing wrong with any of those practices per se. The problem is that an organization’s capacity for innovation stems from an innovation system: a coherent set of interdependent processes and structures that dictates how the company searches for novel problems and solutions, synthesizes ideas into a business concept and product designs, and selects which projects get funded. Individual best practices involve trade-offs. And adopting a specific practice generally requires a host of complementary changes to the rest of the organization’s innovation system. A company without an innovation strategy won’t be able to make trade-off decisions and choose all the elements of the innovation system........Long-term investments in research are risky: .....
Rather, a robust innovation strategy should answer the following questions:

** How will innovation create value for potential customers?
**How will the company capture a share of the value its innovations generate?
**What types of innovations will allow the company to create and capture value, and what resources should each type receive?

There are four essential tasks in creating and implementing an innovation strategy. The first is to answer the question “How are we expecting innovation to create value for customers and for our company?” and then explain that to the organization. The second is to create a high-level plan for allocating resources to the different kinds of innovation. Ultimately, where you spend your money, time, and effort is your strategy, regardless of what you say. The third is to manage trade-offs. Because every function will naturally want to serve its own interests, only senior leaders can make the choices that are best for the whole company.

The final challenge facing senior leadership is recognizing that innovation strategies must evolve. Any strategy represents a hypothesis that is tested against the unfolding realities of markets, technologies, regulations, and competitors.
best_practices  Corning  corporate_investors  crowdsourcing  decision_making  HBR  howto  innovation  organizational_capacity  questions  R&D  resource_allocation  strategy  taxonomy  tradeoffs 
april 2016 by jerryking
How to Avoid the Innovation Death Spiral | Innovation Management
By: Wouter Koetzier

Consider this all too familiar scenario: Company X’s new products developed and launched with great expectations, yield disappointing results. Yet, these products continue to languish in the market, draining management attention, advertising budgets, manufacturing capacity, warehouse space and back office systems. Wouter Koetzier explores how to avoid the innovation death spiral....
Incremental innovations play a role in defending a company’s baseline against competition, rather than offering customers superior benefits or creating additional demand for its products.
Platform innovations drive some market growth (often due to premium pricing rather than expanded volume), but their main function is to increase the innovator’s market share by giving customers a reason to switch from a competitor’s brand.
Breakthrough innovations create a new market that the innovator can dominate for some time by delivering new benefits to customers. Contrary to conventional wisdom, breakthrough innovations typically aren’t based upon major technological inventions; rather, they often harness existing technology in novel ways, such as Apple’s iPad.......A recent Accenture analysis of 10 large players in the global foods industry over a three-year period demonstrates the strategic costs of failure to innovate successfully. Notably, the study found little correlation between R&D spending and revenue growth. For instance, a company launching more products than their competitors actually saw less organic revenue growth. That’s because the company made only incremental innovations, while its competitors launched a balanced portfolio of incremental, platform and breakthrough innovations that were perceived by the market as adding value.
Accenture  attrition_rates  baselines  breakthroughs  correlations  disappointment  downward_spirals  howto  incrementalism  innovation  kill_rates  life_cycle  portfolios  portfolio_management  platforms  LBMA  marginal_improvements  Mondelez  moonshots  new_products  novel  product_development  product_launches  R&D  taxonomy 
march 2016 by jerryking
Where Value Lives in a Networked World
Mohanbir SawhneyDeval Parikh
FROM THE JANUARY 2001 ISSUE

In recent years, it seems as though the only constant in business has been upheaval...Business has become so complex that trying to predict what lies ahead is futile. Plotting strategy is a fool’s game. The best you can do is become as flexible and hope you’ll be able to ride out the disruption.
There’s some truth in that view…..We have studied the upheavals and concluded that many of them have a common root--the nature of intelligence in networks. The digitization of information, combined with advances in computing and communications, has fundamentally changed how all networks operate, human as well as technological, and that change is having profound consequences for the way work is done and value is created throughout the economy. Network intelligence is the Rosetta Stone. Being able to decipher it will shape the future of business.

Four Strategies for Profiting from Intelligence Migration

Arbitrage.
Because intelligence can be located anywhere on a network, there are often opportunities for moving particular types of intelligence to new regions or countries where the cost of maintaining the intelligence is lower. Such an arbitrage strategy is particularly useful for people-intensive services that can be delivered over a network, because labor costs tend to vary dramatically across geographies.

Aggregation.
As intelligence decouples, companies have the opportunity to combine formerly isolated pools of dedicated infrastructure intelligence into a large pool of shared infrastructure that can be provided over a network.

Rewiring.
The mobilization of intelligence allows organizations to more tightly coordinate processes with many participants. In essence, this strategy involves creating an information network that all participants connect to and establishing an information exchange standard that allows them to communicate.

Reassembly.
Another new kind of intermediary creates value by aggregating, reorganizing, and configuring disparate pieces of intelligence into coherent, personalized packages for customers.
arbitrage  centralization  collective_intelligence  decentralization  digitalization  disruption  flexibility  HBR  networks  network_power  resilience  taxonomy  turbulence  turmoil  uncertainty  value_creation 
november 2015 by jerryking
Hunting the gazelle
DECEMBER 7, 2007 | The Globe and Mail | by SEAN WISE.

If one is attempting to build relationships with fast growing companies, how does one decide which ones (of the thousands of small companies starting out) will become big companies - big enough to justify the cost of investing in them now?.......in an effort to ensure a shared nomenclature, here's a communal taxonomy to help classify the various types of ventures encountered.

• Mice are small companies that are likely to stay small. Think "Bob's Pizza"- they can serve a great slice of 'za but it is unlikely they will double in size annually.

• Elephants are large companies whose growth is constant, but at a low level. Think Royal Bank. Its revenues grow annually, but it is so large that the growth is negligible over the short term, yet noticeable over the long term. Unfortunately, these companies have a high client acquisition cost.

• Dogs are medium to large companies that are experiencing low or negative growth. Think "AOL". A great company, but its revenue is shrinking. In the venture capital business, I often refer to these companies as kennel capital, i.e., companies that should be put to sleep.

• Gazelles are young companies that are experiencing extreme, massive growth. For those that pitch them early, the CAC is low and carries with it a high return on investment. Think "Facebook".

From a cash flow perspective, all four business animals start at similar points, however, they diverge rather quickly. The green Mouse stays fairly consistent, growing and shrinking its cash flow over time - possibly as a result of seasonal conditions. Never is it losing money, but it's never really hitting it big, either. The yellow Elephant starts in the best cash flow position and grows consistently at a relatively reasonable CAGR (Compounded Annual Growth Rate - a common business term used to represent the annualized growth of the business). Backing an elephant is never a bad idea, it is in fact, the safest bet (no one ever got fired from trying to land an Elephant). Unfortunately, Elephants are hunted by all, and this in turn, drives up the customer acquisition cost (CAC).......The Gazelles are where it's at from a business development (aka hunting) perspective. Gazelles tend to have the highest CAGR. They're also non-bureaucratic, and are flat in their organizational chart, which contributes to shorter sales cycles and lower CAC.

How to pick a Gazelle?
(1) Focus on those in industries with CAGR > 25%. If an industry is growing annually by 25% or more, then even those companies who finish second or third in their niche will do well. After all, a rising tide floats all boats.

(2) Look for Scalability. If a company can scale, it means they can produce their products for ever-increasing margins (i.e., the 1000th widget costs less to make than the 10th).

(3) Focus on Sustainable Competitive Advantage. If the company you are reviewing lacks any sort of proprietary intellectual property (i.e., patents), or has no barrier to entry, how will they stop others from flooding the market and eating their lunch? Gazelles continue to grow faster than their competitors by being able to differentiate their offerings to their clients.

(4) Look for the 10x rule. Being a little better, a little faster; or a little cheaper isn't enough to turn a startup into a Gazelle. For that to happen, a company has to offer a solution that is 10x faster, 10x better, 10x more secure, 10x cheaper, etc. To sustain double digit growth over the long term, and/or to obtain dominant market position, you will need a 10x solution, a solution that is exponentially better.

The Bottom Line

Whether you are a startup, an angel investor looking to back the best startups, or a service provider looking to serve either, you need to be able to spot high growth companies earlier than others. You need to be able to separate the wheat from the chaff - the potential world leaders from those that will become kennel capital.

If you are looking to find the next Google, Facebook, or Workbrain, you need to strap on your pith helmet and start tracking the Gazelles. Doing so will most likely ensure the greatest returns on your efforts,
10x  barriers_to_entry  business_development  CAGR  cash_flows  competitive_advantage  culling  customer_acquisition  gazelles  high-growth  howto  return_on_effort  scaling  small_business  start_ups  taxonomy 
february 2015 by jerryking
Tech startups: A Cambrian moment | The Economist
Jan 18th 2014

the world of startups today offers a preview of how large swathes of the economy will be organised tomorrow. The prevailing model will be platforms with small, innovative firms operating on top of them. This pattern is already emerging in such sectors as banking, telecommunications, electricity and even government. As Archimedes, the leading scientist of classical antiquity, once said: “Give me a place to stand on, and I will move the Earth.”....yet another dotcom bubble that is bound to pop. Indeed, the number of pure software startups may have peaked already.... warns Mr Andreessen, who as co-founder of Netscape saw the bubble from close by: “When things popped last time it took ten years to reset the psychology.” And even without another internet bust, more than 90% of startups will crash and burn.

But this time is also different, in an important way.

the basic building blocks for digital services and products—the “technologies of startup production”,...Some of these building blocks are snippets of code that can be copied free from the internet, along with easy-to-learn programming frameworks (such as Ruby on Rails). Others are services for finding developers (eLance, oDesk), sharing code (GitHub) and testing usability (UserTesting.com). Yet others are “application programming interfaces” (APIs), digital plugs that are multiplying rapidly....Startups are best thought of as experiments on top of such platforms, testing what can be automated in business and other walks of life. Some will work out, many will not. Hal Varian, Google’s chief economist, calls this “combinatorial innovation”. In a way, these startups are doing what humans have always done: apply known techniques to new problems. The late Claude Lévi-Strauss, a French anthropologist, described the process as bricolage (tinkering)..... software (which is at the heart of these startups) is eating away at the structures established in the analogue age....this special report will explain how start-ups operate, how they are nurtured in accelerators and other such organisations, how they are financed and how they collaborate with others. It is a story of technological change creating a set of new institutions which governments around the world are increasingly supporting.
anthropologists  Archimedes  bubbles  Cambrian_explosion  dotcom  entrepreneurship  Greek  Hal_Varian  innovation  innovation_policies  Marc_Andreessen  millennials  platforms  software_is_eating_the_world  start_ups  taxonomy  technological_change  urban 
february 2014 by jerryking
Vanities, and Hungry New Yorkers - NYTimes.com
November 21, 2013 | NYT | By GINIA BELLAFANTE.
In NYC, cultural philanthropy vastly outpaces social-service philanthropy...Although it is one of the largest food banks in the country, supplying food to more than 1,000 pantries and soup kitchens, and although it has been in existence for three decades, the Food Bank received its first $1 million donation from a private citizen only two years ago, and it came from a foreigner who had moved here and become appalled at how little the affluent classes seemed to understand problems of native poverty and hunger....Even before the cuts went into effect, matching supply with demand presented wounding challenges....When the Food Bank was created in 1983, its founders foresaw a life span of merely a decade or so, in which the organization would primarily serve homeless men. Instead it functions today largely to assist working families....The study revealed that the majority of clients in the group’s network were visiting food pantries not for temporary assistance but for continuing sustenance....Further complicating matters in the world of food relief is the increased complexity of sourcing. In the early days of food pantries, much of what came in arrived in the form of canned goods, but the country’s growing investment in nutrition has meant that relief groups strive to supply more fresh fruits and vegetables now, which requires them to incur greater costs of refrigeration. At the same time, the buying patterns of grocers have become ever more sophisticated, meaning that they can more closely predict the number of pears, for instance, that they can sell, leaving less overstock available for donation....Another trend that has developed over the past decade is the diversion of food to secondary markets. Food close to its expiration date, which otherwise might have found its way to a food bank or pantry, is now sold to dollar stores or countries where regulation may be less stringent.
New_York_City  dilemmas  philanthropy  writers  hunger  food  taxonomy  poverty  food_pantries  overstock  grocery  supermarkets  refrigeration  social-services 
november 2013 by jerryking
Darwin and Demon: Innovating within Established Enterprises
July-August 2004 | HBR | Geoffrey A. Moore

Innovation comes in many forms--products, processes, marketing, business models, and more. Which kind should you be pursuing? It depends where are you in your product category's life cycle.
innovation  HBR  product_launches  taxonomy  life_cycle  market_windows  sales_cycle  Geoffrey_Moore  intrapreneurship  product_category  new_categories 
december 2012 by jerryking
A Capitalist’s Dilemma, Whoever Wins the Election - NYTimes.com
November 3, 2012 | NYT| By CLAYTON M. CHRISTENSEN.

cash hoards in the billions are sitting unused on the pristine balance sheets of Fortune 500 corporations. Billions in capital is also sitting inert and uninvested at private equity funds.

Capitalists seem almost uninterested in capitalism, even as entrepreneurs eager to start companies find that they can’t get financing. Businesses and investors sound like the Ancient Mariner, who complained of “Water, water everywhere — nor any drop to drink.”

It’s a paradox, and at its nexus is what I’ll call the Doctrine of New Finance, which is taught with increasingly religious zeal by economists, and at times even by business professors like me who have failed to challenge it. This doctrine embraces measures of profitability that guide capitalists away from investments that can create real economic growth.

Executives and investors might finance three types of innovations with their capital.
(1)“empowering” innovations. These transform complicated and costly products available to a few into simpler, cheaper products available to the many.

The Ford Model T was an empowering innovation, as was the Sony transistor radio. So were the personal computers of I.B.M. and Compaq and online trading at Schwab. A more recent example is cloud computing....Empowering innovations create jobs, because they require more and more people who can build, distribute, sell and service these products. Empowering investments also use capital — to expand capacity and to finance receivables and inventory.
(2) “sustaining” innovations. These replace old products with new models. For example, the Toyota Prius hybrid is a marvelous product. But it’s not as if every time Toyota sells a Prius, the same customer also buys a Camry. There is a zero-sum aspect to sustaining innovations: They replace yesterday’s products with today’s products and create few jobs. They keep our economy vibrant — and, in dollars, they account for the most innovation. But they have a neutral effect on economic activity and on capital.
(3) “efficiency” innovations. These reduce the cost of making and distributing existing products and services. Examples are minimills in steel and Geico in online insurance underwriting. Taken together in an industry, such innovations almost always reduce the net number of jobs, because they streamline processes. But they also preserve many of the remaining jobs — because without them entire companies and industries would disappear in competition against companies abroad that have innovated more efficiently.

Efficiency innovations also emancipate capital. Without them, much of an economy’s capital is held captive on balance sheets, with no way to redeploy it as fuel for new, empowering innovations....The economic machine is out of balance and losing its horsepower. But why?

The answer is that efficiency innovations are liberating capital, and in the United States this capital is being reinvested into still more efficiency innovations. In contrast, America is generating many fewer empowering innovations than in the past. We need to reset the balance between empowering and efficiency innovations.

The Doctrine of New Finance helped create this situation.. The Republican intellectual George F. Gilder taught us that we should husband resources that are scarce and costly, but can waste resources that are abundant and cheap. ...in the 1930s and the ‘50s, capital was relatively scarce in our economy. So we taught our students how to magnify every dollar put into a company, to get the most revenue and profit per dollar of capital deployed. To measure the efficiency of doing this, we redefined profit not as dollars, yen or renminbi, but as ratios like RONA (return on net assets), ROCE (return on capital employed) and I.R.R. (internal rate of return). ...

Three ideas to seed a productive discussion:
(A) CHANGE THE METRICS. We can use capital with abandon now, because it’s abundant and cheap. But we can no longer waste education, subsidizing it in fields that offer few jobs. Optimizing return on capital will generate less growth than optimizing return on education.
(B) CHANGE CAPITAL-GAINS TAX RATES
(C) CHANGE THE POLITICS
Clayton_Christensen  capitalism  metrics  George_Gilder  Gilder's_Law  taxation  tax_reform  innovation  idle_funds  taxonomy  Fortune_500  cash_reserves  abundance  ratios  ROCE 
november 2012 by jerryking
Wanted: culture of innovation
Sep.16, 2011 | G&M | Kevin Lynch & Munir Sheikh.
“Productivity isn’t everything,” P. Krugman once wrote in his NYT
column, “but in the long run it's almost everything.” Strange that, with
Canada’s poor productivity & innovation performance compared with
the U.S., that we remain complacent. Where’s our sense of urgency?
Innovation doesn’t occur in the abstract – corps. have to manage for it.
Successful innovation happens in 4 distinct areas. Product innovation:
The capacity to introduce new products & services ahead of
competitors, to anticipate consumer needs or even to create them. Mkt.
innovation: The capacity to decide to change its market, whether it’s
geographically, virtually or creatively. Process innovation: The
capacity to change how goods & services are produced and delivered
to reduce cost, improve efficiency and increase convenience for
customers. Org. innovation: The capacity to convert creativity, market
& customer knowledge & technology into marketable innovations.
innovation  productivity  Canadian  Canada  complacency  organizational_culture  organizational_innovation  urgency  Kevin_Lynch  taxonomy  Paul_Krugman  consumer_needs  process_innovation  process_improvements  product_innovation  product-orientated 
september 2011 by jerryking
Letters - What Kind of Innovation?
I am concerned because bright young entrepreneurs and engineers, as well as the venture capitalists and their billions, could be spending their time, talents and money to spur innovation in areas of critical need: feeding a growing planet, finding new solutions for energy, and providing health care around the world, to name a few.

These are challenging problems, to be sure, but they are surely not intractable to the optimists drawn to the tech industry. Angel investors perpetuating the cycle of start-ups should keep this in mind — our future requires creative, innovative ideas in these areas far more than it needs a slate of variations on shopping or social networking sites.

Colleen Murrett

Manhattan, Aug. 21
letters_to_the_editor  silicon_valley  problem_solving  problems  innovation  angels  taxonomy 
september 2011 by jerryking
Schumpeter: Bamboo innovation | The Economist
May 5, 2011 | The Economist | Anonymous. China’s lack of
originality matters less than you may think, believe Dan Breznitz &
Michael Murphree of the Georgia Institute of Technology. In a new book,
“Run of the Red Queen”, they argue that it is wrong to equate innovation
solely with the invention of breakthrough products. In an emerging
economy, other forms of innovation can yield bigger dividends. One is
“process innovation”: the relentless improvement of factories and
distribn. sys. Another is “product innovation”: the adaptation of
existing goods to China’s unique requirements.

The biggest threat to the Chinese model comes from India.
innovation  China  industrial_policies  strategies  books  patents  breakthroughs  portfolios  process_improvements  product-orientated  taxonomy  moonshots  marginal_improvements 
may 2011 by jerryking
China’s Race for Patents to Build an Innovation Economy
Jan 1, 2011 | NYT | STEVE LOHR. China is trying to build an
economy that relies on innovation rather than imitation & intends to
engineer a more innovative society. The Chinese are focusing on
spiking the indigenous generation of “utility-model patents,” which
typically cover items like engineering features in a product & are
less ambitious than “invention patents.” China intends to roughly
double: (a) its # of patent examiners, to 9,000, by 2015. (The U.S. has
6,300 examiners); & (b) the # of patents that its residents &
companies file in other countries. To lift its patent count, China has
introduced incentives including cash bonuses, better housing for
individual filers & tax breaks for companies that are prolific
patent producers...DESPITE China’s inevitable rise, Kao says, the U.S.
has a comp. adv. because it is the country most open to innovation,
forgiving failure, tolerating risk & embracing uncertainty,” “the
future lies in being the orchestrator of the innovation process,”
competitiveness_of_nations  John_Kao  China  patents  industrial_policies  innovation  innovation_policies  Steve_Lohr  taxonomy  Silicon_Valley  bounties  orchestration  incentives  risk-tolerance  prolificacy 
january 2011 by jerryking
The Path to Growth - WSJ.com
MARCH 3, 2007 | Wall Street Journal | By NORMAN T. SHEEHAN
& GANESH VAIDYANATHAN. Even the most successful business models
erode over time making adaptability the key to thriving under tough
conditions. To avoid getting stuck in a rut, companies must constantly
adapt business models to threats and opportunities. While most managers
consider a host of conventional approaches, there's another way to
approach the problem: Look at value-creation strategies. Here are three
such strategies:
* Industrial efficiency, which creates value by producing
standardized offerings at low cost. Manufacturers and fast-food
restaurants rely on this approach.
* Network services, which creates value by connecting clients to
other people or other parts of the network. Telcos, delivery services
and Internet middlemen such as eBay use this method.
* Knowledge intensive, which creates value by applying customized
expertise to clients' problems. Law firms and medical practices are
prime examples.
business_models  delivery_networks  eBay  efficiencies  expertise  growth  industrial-strength  inequality_of_information  industry_expertise  knowledge_intensive  law_firms  legal  low-cost  middlemen  networks  orchestration  strategies  taxonomy  value_creation 
february 2010 by jerryking
How to Be a Smart Innovator - WSJ.com
SEPTEMBER 11, 2006 | Wall Street Journal | by Nicholas Carr,
who talks about the right way to be creative --and the wrong way. Mr.
Carr says, companies need to be prudent --even conservative --in where
and how much they encourage innovation. He reminds us that innovation
isn't free, that it's quite expensive and quite risky. Managers need to
bring the same kind of discipline to deciding where to innovate as they
would normally bring to any other kind of management question.
Innovation initiatives and innovation investments should be connected to
a firm's broader business strategy and its areas of competitive
advantage: mfg. processes or its supply chain or its products themselves
or branding and marketing areas. You don't need to always shoot for
home runs in innovation. Further, innovations can be useful if, instead
of causing disruptions, mend those disruptions or help regular customers
(late majority) adapt to new technologies or new innovations--bridging.
adaptability  breakthroughs  bridging  competitive_advantage  contrarians  Daniel_Pink  disruption  Freshbooks  howto  incrementalism  innovation  innovators  Nicholas_Carr  smart_people  strategy  taxonomy 
february 2010 by jerryking
Think Small - WSJ.com
FEBRUARY 14, 2007 | Wall Street Journal | by RAJAN
VARADARAJAN. Article touting the merits of incremental--versus
radical-- approaches to innovation. Incremental innovations can: help
support radical innovations; play a major role in helping companies
enter new markets, by modifying existing products to suit new customers;
help take charge of fragmented industries -- those with lots of small,
regional competitors; help companies on their home turf (i.e. line
extensions); help a company increase the price premium on its products;
help companies neutralize the impact of competitors' innovations; help
companies respond to big changes in their industry.
innovation  radical  P&G  incrementalism  breakthroughs  fragmented_markets  small_wins  structural_change  taxonomy  new_markets  marginal_improvements  quick_wins 
january 2010 by jerryking
Innovate, Yes--But Where?
03.13.06 | Forbes | by Rich Karlgaard. "Today’s bestseller
list on management bursts with innovation-themed titles. Two I’ve read
and recommend are Geoffrey Moore’s Dealing With Darwin: How Great
Companies Innovate at Every Phase of Their Evolution and Vijay
Govindarajan and Chris Trimble’s 10 Rules for Strategic Innovators: From
Idea to Execution." Startups, I think, hold the best cards when it
comes to two types of innovation: technology and price. But incumbents
also have ample areas in which they can innovate. Consider these
examples: Cost Innovation, Logistics Innovation, Design Innovation,
Line-Extension Innovation, Data-Analysis Innovation,
innovation  howto  Rich_Karlgaard  Geoffrey_Moore  data_mining  design  branding  logistics  Vijay_Govindarajan  books  start_ups  costs  taxonomy 
october 2009 by jerryking
Four kinds of corporate innovation
THE FOUR KINDS OF CORPORATE INNOVATION. Corporate innovation can be divided into four categories:

1. customer oriented innovation
2. product innovation
3. process innovation
4. strategic innovation
corporate  innovation  taxonomy  product_innovation  process_improvements  product-orientated 
june 2009 by jerryking
Seven Ways to Fail Big
September 2008 | Harvard Business Review | by Paul B. Caroll
and Chunka Mui.
(1) The Synergy Mirage (2) Faulty Financial Engineering (3) Stubbornly
Staying the Course (4) Pseudo-Adjacencies (5) Bets on the Wrong
Technology (6) Rushing to Consolidate (7) Roll-Ups of Almost Any Kind.
Avoiding Disasters: The Devil's Advocate.
See also "Questions Every Company Should Ask" at the end of article.
HBR  magazines  overoptimism  synergies  failure  devil’s_advocates  roll_ups  decision_making  thinking_big  strategic_bets  taxonomy  financial_engineering  questions  red_teams 
may 2009 by jerryking
Risky Business - HBR.org
September 2008 | Harvard Business Review | The Editors. an
article about investment strategies in the Persian Gulf—“Where Oil-Rich
Nations Are Placing Their Bets.” The authors—Rawi Abdelal, Ayesha Khan,
and Tarun Khanna—persuasively argue that there’s a world of difference
between what the Gulf countries are actually trying to achieve and what
Western leaders imagine they’re aiming for. “Seven Ways to Fail Big,”
by Paul Carroll and Chunka Mui, has an ambitious agenda: to categorize
the bad strategic bets that companies make and to identify
decision-making processes that will help other companies avoid similar
failures. The key process is appointing devil’s advocates with enough
clout to stop a bad decision in its tracks.
big_bets  HBR  risks  magazines  decision_making  Persian_Gulf  Middle_East  failure  devil’s_advocates  petro-dictators  petro-politics  thinking_big  strategic_bets  taxonomy  red_teams 
may 2009 by jerryking
globeandmail.com - Corporate survival: Be ready to chart a new course when industry winds blow
Oct. 1, 2007 G&M column by Harvey Schachter on Anita
McGahan's suggestions on how to interpret the signals of industry
change.

Determine whether your core activities or core assets are threatened - or both. Core activities are those actions that have historically generated profits for the industry, such as owning dealerships in the auto industry, which is less significant in an Internet era. Core assets are the resources, knowledge, and brand capital that have made the organization unique, like blockbuster drugs in the pharmaceutical industry.

(1) Radical Change.our core activities and core assets are both threatened with obsolescence. This is similar to the concept of disruptive change outlined by Harvard's Clayton Christensen in his writings.

(2) Intermediating Change. Core activities are threatened while core assets retain their strength. Sotheby's, for example, remains top notch at assessing works of art but because of technology eBay can challenge on the matchmaking side of the business.

(3) Creative Change. Core assets are under threat but core activities remain stable, as in pharmaceuticals or oil and gas exploration, where relationships with customers and suppliers are fairly steady but assets turn over constantly. Innovation occurs in fits and starts.

(4) Progressive Change. Both core assets and core activities are stable, but significant change still threatens, as in discount retailing, long-haul trucking, and commercial airlines.
assets  Clayton_Christensen  Harvey_Schachter  strategy  industries  structural_change  preparation  readiness  warning_signs  howto  interpretation  core_businesses  obsolescence  taxonomy  change  pivots 
january 2009 by jerryking

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