Showing posts with label business strategy. Show all posts
Showing posts with label business strategy. Show all posts

Something Really New: Three Simple Steps to Creating Truly Innovative Products Review

Something Really New: Three Simple Steps to Creating Truly Innovative Products
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Something Really New: Three Simple Steps to Creating Truly Innovative Products ReviewThis book goes on the shelf right by Clayton Christensen's Innovator's Dilemma, and Gary Hamel's Leading the Revolution. But of the three, Hauptly's Something Really New might be the best, and certainly will be the most useful.
Innovation books frequently are written by business school professors about their clients. This leads to books that are heavy on theory, and inadequately critical of their subjects.
Hauptly's book is like other Innovation books in that it is concise, readable, and filled with helpful illustrative examples. But the effect is entirely different when the author is an actual Innovator writing for other Innovators about how to Innovate, rather than a color commentator describing action on a distant field.
Gone from Hauptly's account are the fawning success stories. Gone are the complex theories and graphs. Gone even are the unrealistically simple formulas that turn into traps when you try to do it in the real world (think Anthony Ulwick's What Customers Want). What remains is practical advice about how to innovate and how to avoid false innovation.
Hauptly takes us into mind of the Innovator like no other book I have read (even more than Joel Barker's classic, The Business of Paradigms). Not only does Hauptly pave the road for aspiring Innovators, but perhaps more importantly he sets out all the warning signs and side-markers to help avoid common psychological traps. Hauptly takes equal care to explain what is NOT an innovation, which in the real world may be the more vexing problem.
Something Really New is actually two books in one. Although Part One will stand as a major contribution to the literature simply by offering the first true Innovator's Deskbook, I was equally impressed by Part Two, which covers the people issues, organization, and culture of innovation. Where other books dance around these sensitive political issues, Hauptly is direct and pragmatic about how and where innovation can occur, who does it, who stops it, and how.
The book's chat-over-lunch tone and brain-teaser exercises are a sleight-of-hand that will lull some readers into thinking that the book lacks depth. However, the careful eye will note where the conceptual framework shows through (page 81 cannot resist a 2x2 grid; page 107 introduces the phrase "functional contiguity," and of course the concept of net utility is actually dynamite in the presence of false innovation).
The book will be least interesting to academics seeking theoretical exposition, and least welcome by senior executives who would cheer lead for innovation without actually aligning the organization and doing the work. For them, this book offers little.
But as a no-nonsense player's guide to the game, Something Really New is in a league of its own. It will be read by aspiring and experienced product development staff in all industries. Some of the concepts Hauptly introduces, like mutations, net utility, and task linking, may enter the popular lexicon of innovation. But the book is most to likely win the hearts of product developers working in the trenches, among whom word will spread of the brightest light yet shone on a notoriously dark terrain.Something Really New: Three Simple Steps to Creating Truly Innovative Products Overview

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Power Points for Success Review

Power Points for Success
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Power Points for Success ReviewI am a varsity volleyball/ Jr. High basketball coach in a school that is serious about sports. Often my girls are taxed to the max with school, family,work, volunteering in the community, church, and most of them play two or three sports. I use Power Points for Success at the end of each practice to give a "reality check" for my girls. It is important that they learn to not only be competative, but to be balanced young women who are ready to tackle the future. This little book has given short examples that catch their attention and make them think. This is a must read and I give a copy to every player at the end of each season. Great book Bob Harrison. Ellsworth, Michigan Girls Varsity Volleyball/Jr. High Basketball thanks you!Power Points for Success Overview

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Game-Changing Strategies: How to Create New Market Space in Established Industries by Breaking the Rules (J-B US non-Franchise Leadership) Review

Game-Changing Strategies: How to Create New Market Space in Established Industries by Breaking the Rules (J-B US non-Franchise Leadership)
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Game-Changing Strategies: How to Create New Market Space in Established Industries by Breaking the Rules (J-B US non-Franchise Leadership) ReviewReaders of business books on innovation have all been victims of the hype of doing new things and doing things differently. Of course we all know that doing new things and finding new ways of doing things can be sources of considerable value, with payoffs that go far beyond increased efficiency and continuous improvement. But simply eulogizing the companies that have made it big with a new business model (the IKEAs, Body Shops, Entreprise Rent-a-Cars and Southwest Airlines of the world) against formidable established competitors, is eye-opening but somehow insufficient.
Business model innovation - how a company changes key parts of the value chain to create new space in an established industry - is the subject of Professor Markides' new book. Remarkably removed from the common hype Markides emphasizes:
1.That implementing the new business model is harder than inventing it.
2.For a start-up, business model innovation is more obvious and easier than for an established company.
3.There are more business model innovators who fail than succeed.
4.An established company that decides to run a new business model, has to simultaneously manage degrees of differentiation and integration, synergy and competition with the existing business model and different ways of managing these can be successful
5.Established firms have various strategic options when responding to disruptive competitors with new business models
6.Established firms should themselves be innovative in their business models
And much more. The book is partly based on the author's own research of a large sample of business model innovators and is full of well-known and not-so-well-known case-examples, all well-written and with business arguments clearly articulated.
Of course the author understands that innovation is impossible without creativity and he counterbalances his "Creativity is not enough" Chapter 3, with his Appendix B - "How to enhance corporate creativity".
All in all a fine business book.
Game-Changing Strategies: How to Create New Market Space in Established Industries by Breaking the Rules (J-B US non-Franchise Leadership) Overview

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Kick Ass Business and Marketing Secrets: How to Blitz Your Competition Review

Kick Ass Business and Marketing Secrets: How to Blitz Your Competition
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Kick Ass Business and Marketing Secrets: How to Blitz Your Competition ReviewA really great and easy read. it's the perfect introduction to understanding the schematics of the modern business and marketing worlds. It's simple language makes it easy to connect to but the content is rich and informative.Kick Ass Business and Marketing Secrets: How to Blitz Your Competition Overview

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Macrowikinomics: Rebooting Business and the World Review

Macrowikinomics: Rebooting Business and the World
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Macrowikinomics: Rebooting Business and the World ReviewUsing the power of each of us to solve problems that challenge all of us is the central premise of Macrowikinomics. Tapscott has always been good at spotting, shaping and branding trends and this book is no exception. However, this book repeats and restates earlier ideas rather then moving forward to the next logical question of how we do this.
I am sorry to provide a less than enthusiastic review, as I am sure others will find this book revolutionary. However, I am reviewing the book as someone who wants to learn how to make the changes that Tapscott and Williams advocate in my company and industry.
The authors do cover different industries and mention emerging companies giving the impression that the book breaks new ground. However, readers familiar with Tapscott's other works will find that this book repeats and restates Wikinomics more than it covers new ground. It is clear that Tapscott and Williams are looking at this issue from the macro economic rather than business perspective. Is there microwikinomics in the wings?
The book's structure reinforces this observation as it starts by revisiting the basics of the Wikinomics and the five principles of networked intelligence: Collaboration, Openess, Sharing, Integrity and Interdependence. The authors next concentrate on discussing the complex challenges and industries under threat. These include: Green energy, Transportation, Education, Health Care, Media and Government.
The middle section repeats the same pattern of describing their issue, the inability of modern approaches to address the issue and examples of companies using wikinomics to address the issue which that authors report are too early to be reshaping the world we live in.
The last part of the book concentrates on the challenges posed by wikinomics. In my opinion these last two chapters are the more valuable parts of the book, particularly for someone who has already read Wikinomics. But these chapters, like the rest of the book, raises more issues than it resolves.
Recommendations
If you are a wikinomics fan, then you will probably buy the book no matter what anyone says. As a reader familiar with Wikinomics I found more examples but little in the ways of new ideas or applications. The examples are interesting but they lack specifics of how you apply wikinomic principles.
This is a four star book, if you are new to Wikinomics. Macrowikinomics has more examples of than the original book. I would suggest reading Chapters 1-4, then the chapters related to your industry and finish with chapters 18 and 19. This should make the book about 150 - 200 pages which is an appropriate length.
This is a three star book for those who enjoyed Wikinomics and wanted to learn more about how leaders are applying these ideas rather than where the ideas could be applied. I had hoped for more than an expanded restatement of the earlier book.
Strengths
Comprehensive in tackling a diverse set of global issues and industries. The breadth of Tapscott and William's discussion illustrates the broad ability of social media and mass collaboration to change the way the world works.
Company specific examples are interesting and they do illustrate that people are applying these ideas in each of these areas, but the examples are general marketing level descriptions rather than providing actionable advice.
The beginning and the end of the book are quite clear and provide a good overview of the ideas in the book. These include chapters 2, 4, 18 and 19.Challenges
The authors have had more than three years since the introduction of Wikinomics to understand how these forces work in companies. Unfortunately there is little of this understanding in the book. It does not discuss how to address significant issues such as assigning responsibility, accountability, management, measurement and rewards. These are issues that people running companies need to face and ones that people studying rather than living the problem can overlook.
The authors are at times strident in their dismissal of current governments, companies, industries and individuals. Throughout the book the authors are clear that they believe that believe that wikinomics is the only way to solve these issues. This may be a good way to energize people around social issues, but it does little to help people apply these ideas to evolve from where they are to where they need to be.
Americans appear to be the primary audience for the book. While Tapscott and Williams mention India and China, their intended audience is people in the U.S. This is surprising given the author's calls for a coordinated global response to economic and environmental issues.
The book is long at over 400 pages; in large part because of the middle chapters follow a similar structure, which makes the book seem repetitive and reinforces the impression that the authors believe that the same solution applies to every situation.
The notion of 'rebooting business and the world' is an interesting premise and an inaccurate description of what the authors intend since rebooting is used most often as a way of solving problems by resetting the system to its original configuration. This is not what the authors intend but it's the analogy they have chosen.Macrowikinomics: Rebooting Business and the World Overview

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Predictable Success: Getting Your Organization On the Growth Track--and Keeping It There Review

Predictable Success: Getting Your Organization On the Growth Track--and Keeping It There
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Predictable Success: Getting Your Organization On the Growth Track--and Keeping It There ReviewWhile it is often easy to see patterns of failure in business, it is very challenging to replicate success. That is why I was so intrigued with the methodology behind Les McKeown's new book Predictable Success. I have engaged with over a thousand entrepreneurs and businesses in my career and Les' insights on how to structure and manage an organization would provide value to every single one of them, from start-up to Fortune 500.
Les describes seven stages of the business lifecycle, with Predictable Success being at the peak.
First he describes how every business starts out in a struggle to find a sustainable and profitable market for your products/services before your capital runs out. This can take up to three-five years to master and there are pretty much two options- you succeed and move on to the next stage or if your capital runs out you fail, which happens to upwards of 85%+ of all new businesses. I know there are a lot of folks professing bootstrapping strategies, but as Les's model demonstrates, if you run out of capital before you find that sustainable, profitable market, you will end up in that majority end of the statistics. The compromise: be frugal and scrappy in your expenditures, but still have that capital available to give your business enough time to get its legs underneath it.
If you make it out of the early struggle, Les says you get to a high-growth stage called "Fun" (his highly technical term for it). The business grows rapidly, you begin to see the fruits of your labor, but as you grow, your business becomes more complex. Eventually, in your business' growth, you will get to a point where systems and processes are needed and the entrepreneur(s) can't just manage the business viscerally. This moves you from Fun to a stage called "Whitewater", which can be recognized by the fact that you start dropping the ball, so to speak, in one or more areas of your business. The bad news- it is an unavoidable part of growth. The good news- if you put the right processes and systems in place, you will make it out and put yourself into Predictable Success.
One of the biggest takeaways for entrepreneurs is that Whitewater is an unavoidable stage, but that there is a light at the end of the tunnel (or waterway, if you will).
While Les says that it is theoretically possible to stay in Predictable Success forever, just like people age, businesses can age too. And sometimes, managers go a bit berserk with the systems and processes to the point that everything has a system or process, often favoring form over function. When your business starts expending tons of energy and not moving forward (i.e. growing), then you are on the "Treadmill". This stage is critical- in Treadmill, you can fix things and infuse more entrepreneurial spirit in your organization and go back to Predictable Success. If you don't fix things in Treadmill, you head into the "Big Rut" and lose the ability to self-diagnose (and change).
There are many key insights for mature business in the book that describe what to do when the entrepreneurial spirit has been sucked out of your organization.
Regardless of the stage of your own business (and definitely if you advise other businesses) this is a very worthwhile read that will really help you hone your business structure.
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Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant Review

Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
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Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant ReviewThe authors have published many articles over the last decade on Value Innovation. This is their first book. It summarizes their extensive knowledge on out-of-the-box strategic thinking.
What is a BLUE OCEAN STRATEGY? The authors explain it by comparing it to a red ocean strategy (traditional strategic thinking):
1. DO NOT compete in existing market space. INSTEAD you should create uncontested market space.
2. DO NOT beat the competition. INSTEAD you should make the competition irrelevant.
3. DO NOT exploit existing demand. INSTEAD you should create and capture new demand.
4. DO NOT make the value/cost trade-off. INSTEAD you should break the value/cost trade-off.
5. DO NOT align the whole system of a company's activities with its strategic choice of differentiation or low cost. INSTEAD you should align the whole system of a company's activities in pursuit of both differentiation and low cost.
A red ocean strategy is based on traditional strategic thinking - e.g. Harvard's strategy guru Michael Porter.
Some cases:
* Airline industry price wars result in bankruptcies and low profit margins. Southwest Airlines creates a new market by offering the speed of air travel with the low cost and flexibility of driving.
* Golf equipment industry competes to win a greater share of existing golf customers. Callaway Golf creates "Big Bertha", a golf club with a large head that attracted new customers to golf that had been frustrated by the difficulty of hitting the ball.
* The cosmetic industry creates a red ocean with models, expensive advertising, and promises of youth and beauty. The Body Shop creates a blue ocean that lasts more than a decade by creating functional cosmetics that defied the industry which sold emotionally appealing cosmetics.
* The wine industry gluts the market with a red ocean of thousands of brands competing on the finest oaks and tannins and legacy winey names. Casella wines creates [yellow tail], a blue ocean wine that succeeded by eliminating complexity, elitism and consumer confusion and creating a fun simple image that non-wine drinkers could enjoy.
A blue ocean is created in the region where a company's actions favourably affect both its cost structure and it value proposition to buyers. Cost savings are made from eliminating and reducing the factors an industry competes on. Buyer value is lifted by raising and creating elements the industry has never offered. Over time, costs are reduced further as scale economies kick in, due to the high sales volumes that superior value generates.
Examples of strategic moves that created blue oceans of new, untapped demand:
- NetJets (fractional Jet ownership)
- Cirque du Soleil (the circus reinvented for the entertainment market)
- Starbucks (coffee as low-cost luxury for high-end consumers)
- Ebay (online auctioning)
- Sony (the Walkman - personal portable stereos)
- Cars: Japanese fuel-efficient autos (mid-70s) and Chrysler minivan (1984)
- Computers: Apple personal computer (1978) and Dell's built-to-order computers (mid-1990s).
The INSEAD professors Kim and Mauborgne have written regularly on the subject of Value Innovation since 1997 in Harvard Business Review. Being a business development manager, their thought leadership on strategic innovation has inspired me tremendously over the years. Their articles have been standard texts for many MBA students for some time (e.g. "Value Innovation", "Creating New Market Space", "Charting your Company's Future"). I expect their first book to be just as dominant in any strategy library as Michael Porter's books (the guru behind the classic red ocean strategies).
Peter Leerskov,
M.Sc. in International Business (Marketing & Management) and Graduate Diploma in E-businessBlue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant Overview

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