Let's start from the beginning...
Innovator’s DNA Framework
We’re talking Innovator’s DNA right here, right now. Basically it’s the how to kit for creating innovative business plans and thinking like some of the best innovators of all time (aka my man, Steve Jobs).
The Innovator’s DNA uncovers the origins of creative and disruptive business strategies of innovative companies and reveals what makes innovators so revolutionary- creative intelligence and the 5 discovery skills. The skills are observing, questioning, networking, experimenting, and associative thinking. Let’s break it down even further and then talk about some of the awesome people who exemplify it.
Questioning allows innovators to break out of the status quo and consider new possibilities
Through observing, innovators detect small behavioral details – in the activities of customers, suppliers, and other companies – that suggest new ways of doing things.
In experimenting, they relentlessly try on new experiences and explore the world.
And through networking with individuals from diverse backgrounds, they gain radically different perspectives.
The four patterns of action together help innovators associate to cultivate new insights.
Now, let’s talk Jobs. Steve Jobs. I am eternally grateful to Steve Jobs for his work. Without his developments in smartphone technology social media wouldn’t even be close to what it is today. With great honor, I apply the Innovator’s DNA to the legendary man with a plan, Mr. Jobs.
Questioning: In his biography, Walter Isaacson highlights many occasions that Steve Jobs questions the world around him in order to create revolutionary products. One of those instances is when Jobs asks if the fan inside the computer was really necessary to its functionality. Apple computers were then build without cooling fans until later models in order to reduce noise and weight of the machines. Another question raised by Jobs was how to address the illegal music downloading spree in the early 2000s. Jobs and the Apple team created iTunes from this, not only changing the way music was downloaded, but also the relationship between the tech and music industries. With the production of the iPhone, Jobs decided to remove the keyboard from previous smartphone devices for Apple’s model after wondering that their purpose was and how the models could be more updateable as time goes on. He decided that by removing the keyboard and replacing it with a touchscreen that displays computer like graphics, he could most effectively provide updates for the phone and make consumer use simpler and more timeless.
Observing: Much of Jobs’ observation was focused on the performance of other products in the market. For example, with the creation of the iPhone, Jobs noticed that the format of competing smartphones would be increasingly hard to update and maintain. Also, he found that they minimized what the consumer actually needed, screen space. Through this he designed the keyboard-free iPhone structure. Additionally, when music was being illegally downloaded Jobs recognized an opportunity to advance digital downloading, thus inspiring the start of iTunes. With Pixar, Jobs observed negative reactions to Disney’s version of Toy Story, thus influencing him to change the plotline to a more positive, educational one (chapter 22). Jobs also observed that all the parts to create Apple were in place at Xerox PARC, according to Chris Anderson’s Fortune article on Jobs and Elon Musk, but no one had the conviction to take action and make it happen except for him.
Networking: One of Jobs’ main outlets of networking was through his involvement in multiple fields across different companies. His time at Pixar connected him to the movie industry, as well as animation, by serving as the connection between Disney and Pixar as they collaborated on films. While his time at NeXt involved him in the medical field. More overwhelmingly so, his interactions with other innovators at the time proved inspirational in his work as well. In chapter 16 of Isaacson’s book he describes Gates and Jobs’ bond. The two attended conferences together and built products together, such as the Xerox Star. Additionally, the connections between Jobs and the monks he encountered in India played a role in the design of his products, as they reflected simplicity and minimalism.
Experimenting: According to Jeff Dyer experimentation includes the basic ideas of dismantling and testing, as well as exploring new outlets of inspiration. Jobs did all three. Jobs and Woz used to dismantle computers and investigate their internal structures in order to assess how to build their computers at low cost and high function. Similarly, Jobs also dismantled his walkman in college to learn more about how it worked. He also did a lot of LSD to experiment with innovation in other states of mind. Additionally, Jobs’ college experiences and travels contributed to his experimentation as he could bring things he learned in new places back to his experience at Apple. For example, his calligraphy practice played a huge role in the typography of his computers, revolutionizing user interface.
Associating: All the above play into associative thinking. The most prominent example of association is Jobs’ use of calligraphy to create the typography for his computer's’ interface. He also projected the idea that what one sees is what one gets when it comes to the screen, changing the way the computer worked entirely. Jobs himself recognized that “creativity is connecting things.” Jobs also incorporated some religious elements from his personal life into the simplicity and minimalism of the structures of all products.
THE POINT: I think the key takeaways from the Innovator’s are that 1) innovation derives from the 5 discovery skills, and 2) that anyone can develop these skills because they are only ⅓ genetic and ⅔ practice. After learning about this topic I’ve started applying the 5 skills to my daily life to understand the world around me and hopefully, one day bring innovation to the field I’m passionate about. I actively ask questions at my internship to explore all the career options there, such as copywriting, community management, and digital marketing, and to get a better grasp on corporate areas that could use improvement. I also have started questioning the status quo around me everyday because of my women’s studies course. It makes me think more about small social innovations that could mend everyday dilemmas in morality, such as introducing yourself with your pronouns to avoid mislabeling gender. I also applied associative thinking when becoming a campus social media coordinator for the University of Maryland Spoon account. It combines my love for the DC and MD food scenes with my passion for social media. Overall, I think I can better recognize the importance of applying myself and pushing forward, as well as investing in successful skills that will make me a better candidate for jobs in the future.
We’re talking Innovator’s DNA right here, right now. Basically it’s the how to kit for creating innovative business plans and thinking like some of the best innovators of all time (aka my man, Steve Jobs).
The Innovator’s DNA uncovers the origins of creative and disruptive business strategies of innovative companies and reveals what makes innovators so revolutionary- creative intelligence and the 5 discovery skills. The skills are observing, questioning, networking, experimenting, and associative thinking. Let’s break it down even further and then talk about some of the awesome people who exemplify it.
Questioning allows innovators to break out of the status quo and consider new possibilities
Through observing, innovators detect small behavioral details – in the activities of customers, suppliers, and other companies – that suggest new ways of doing things.
In experimenting, they relentlessly try on new experiences and explore the world.
And through networking with individuals from diverse backgrounds, they gain radically different perspectives.
The four patterns of action together help innovators associate to cultivate new insights.
Now, let’s talk Jobs. Steve Jobs. I am eternally grateful to Steve Jobs for his work. Without his developments in smartphone technology social media wouldn’t even be close to what it is today. With great honor, I apply the Innovator’s DNA to the legendary man with a plan, Mr. Jobs.
Questioning: In his biography, Walter Isaacson highlights many occasions that Steve Jobs questions the world around him in order to create revolutionary products. One of those instances is when Jobs asks if the fan inside the computer was really necessary to its functionality. Apple computers were then build without cooling fans until later models in order to reduce noise and weight of the machines. Another question raised by Jobs was how to address the illegal music downloading spree in the early 2000s. Jobs and the Apple team created iTunes from this, not only changing the way music was downloaded, but also the relationship between the tech and music industries. With the production of the iPhone, Jobs decided to remove the keyboard from previous smartphone devices for Apple’s model after wondering that their purpose was and how the models could be more updateable as time goes on. He decided that by removing the keyboard and replacing it with a touchscreen that displays computer like graphics, he could most effectively provide updates for the phone and make consumer use simpler and more timeless.
Observing: Much of Jobs’ observation was focused on the performance of other products in the market. For example, with the creation of the iPhone, Jobs noticed that the format of competing smartphones would be increasingly hard to update and maintain. Also, he found that they minimized what the consumer actually needed, screen space. Through this he designed the keyboard-free iPhone structure. Additionally, when music was being illegally downloaded Jobs recognized an opportunity to advance digital downloading, thus inspiring the start of iTunes. With Pixar, Jobs observed negative reactions to Disney’s version of Toy Story, thus influencing him to change the plotline to a more positive, educational one (chapter 22). Jobs also observed that all the parts to create Apple were in place at Xerox PARC, according to Chris Anderson’s Fortune article on Jobs and Elon Musk, but no one had the conviction to take action and make it happen except for him.
Networking: One of Jobs’ main outlets of networking was through his involvement in multiple fields across different companies. His time at Pixar connected him to the movie industry, as well as animation, by serving as the connection between Disney and Pixar as they collaborated on films. While his time at NeXt involved him in the medical field. More overwhelmingly so, his interactions with other innovators at the time proved inspirational in his work as well. In chapter 16 of Isaacson’s book he describes Gates and Jobs’ bond. The two attended conferences together and built products together, such as the Xerox Star. Additionally, the connections between Jobs and the monks he encountered in India played a role in the design of his products, as they reflected simplicity and minimalism.
Experimenting: According to Jeff Dyer experimentation includes the basic ideas of dismantling and testing, as well as exploring new outlets of inspiration. Jobs did all three. Jobs and Woz used to dismantle computers and investigate their internal structures in order to assess how to build their computers at low cost and high function. Similarly, Jobs also dismantled his walkman in college to learn more about how it worked. He also did a lot of LSD to experiment with innovation in other states of mind. Additionally, Jobs’ college experiences and travels contributed to his experimentation as he could bring things he learned in new places back to his experience at Apple. For example, his calligraphy practice played a huge role in the typography of his computers, revolutionizing user interface.
Associating: All the above play into associative thinking. The most prominent example of association is Jobs’ use of calligraphy to create the typography for his computer's’ interface. He also projected the idea that what one sees is what one gets when it comes to the screen, changing the way the computer worked entirely. Jobs himself recognized that “creativity is connecting things.” Jobs also incorporated some religious elements from his personal life into the simplicity and minimalism of the structures of all products.
THE POINT: I think the key takeaways from the Innovator’s are that 1) innovation derives from the 5 discovery skills, and 2) that anyone can develop these skills because they are only ⅓ genetic and ⅔ practice. After learning about this topic I’ve started applying the 5 skills to my daily life to understand the world around me and hopefully, one day bring innovation to the field I’m passionate about. I actively ask questions at my internship to explore all the career options there, such as copywriting, community management, and digital marketing, and to get a better grasp on corporate areas that could use improvement. I also have started questioning the status quo around me everyday because of my women’s studies course. It makes me think more about small social innovations that could mend everyday dilemmas in morality, such as introducing yourself with your pronouns to avoid mislabeling gender. I also applied associative thinking when becoming a campus social media coordinator for the University of Maryland Spoon account. It combines my love for the DC and MD food scenes with my passion for social media. Overall, I think I can better recognize the importance of applying myself and pushing forward, as well as investing in successful skills that will make me a better candidate for jobs in the future.
3P framework
Who doesn’t love a good innovation framework? The 3P Framework, centralized around the people, processes, and philosophies of a company, reveals how a company operates and provides insights into innovative business strategies.
If there was a Beyonce of innovation firms, IDEO would so be it. Insert heart eye emoji (and the chart of the people, philosophies, processes to the right).
Let’s walk through this- IDEO looks for collaborative, invested employees. Teams are small but diversified, composed of multidisciplinary people. Their key process include the deep dive, a brainstorming process that focuses on processes, culture, leadership, and organization, a prototype driven experimentation process, and consultations with real experts in the field. Every team member understands all spheres of each project. Oh, and there’s no hierarchy, so bosses and employees brainstorm, build off each others’ ideas, and prototype alike. Their philosophies revolve around failing often to succeed sooner and building off each other’s ideas.
Of course Steve Jobs messes with the system and changes everything. We’re not totally sure if Apple fits any frameworks because of their closet innovation system. Top secret. Like the CIA. Apple = CIA. But we do know that they also see innovation as everyone’s job, not just R&D. And the number one thing they stress- design thinking. It’s all about design.
Some companies have rockstar philosophies that drive the company, like our friends at Amazon. Jeff Bezos is legendary for his philosophies that guide Amazon as a company. Here they come, so get ready.
1) Innovation is everyone’s job
2) Disruptive innovation is part of the company’s innovation portfolio
3) Keep teams small. Fed by 2 pizzas small. (2 Pizza teams- keeping teams small enough to be fed by 2 pizzas)
4) Take smart risks in the name of innovation
Their culture is competitive and challenging. Put on your suit of armour, we’re going to battle. A driving philosophy is challenging the ideas of others in order to innovate. They also work with a customer centric model that starts with the consumer and builds backwards to create the most optimal product. And if you thought Amazon was rolling it in, think again. The company is known for reinvesting all profits back into the brand, ultimately breaking even.
THE POINT: The key takeaways from this topic are recognizing how important brand voice and personality are to a company and observing the different applications 3P has to popular industries today. It was particularly interesting to me to see inside Amazon and understand their brand more because I literally worship Amazon Prime. The lesson made me consider the kind of company I would want to work at when I become a professional. Could I handle the scrutiny of Amazon, or am I more of an IDEO girl? When I really think about it, I think Cava is a really good match for me. Their philosophies on being health-centric, locally sourced, and transparent match my value of healthy eating. They also present food as a connector that builds relationships, which I can totally vouch for through lunches with friends that got real deep real fast. Cava also uses the two pizza philosophy, as the marketing team is less than 10 people and we all work in a bullpen style office. As for people, they look for someone that A) loves food (live to eat, don’t eat to live) B) is creative, dedicated, and resourceful and C) breathes the brand. I can proudly say I fit all three. Other companies that I think I could be a good fit for are any other industries that match my passions- exercise, healthy eating, body positivity, trendy clothes, and making memories.
Who doesn’t love a good innovation framework? The 3P Framework, centralized around the people, processes, and philosophies of a company, reveals how a company operates and provides insights into innovative business strategies.
If there was a Beyonce of innovation firms, IDEO would so be it. Insert heart eye emoji (and the chart of the people, philosophies, processes to the right).
Let’s walk through this- IDEO looks for collaborative, invested employees. Teams are small but diversified, composed of multidisciplinary people. Their key process include the deep dive, a brainstorming process that focuses on processes, culture, leadership, and organization, a prototype driven experimentation process, and consultations with real experts in the field. Every team member understands all spheres of each project. Oh, and there’s no hierarchy, so bosses and employees brainstorm, build off each others’ ideas, and prototype alike. Their philosophies revolve around failing often to succeed sooner and building off each other’s ideas.
Of course Steve Jobs messes with the system and changes everything. We’re not totally sure if Apple fits any frameworks because of their closet innovation system. Top secret. Like the CIA. Apple = CIA. But we do know that they also see innovation as everyone’s job, not just R&D. And the number one thing they stress- design thinking. It’s all about design.
Some companies have rockstar philosophies that drive the company, like our friends at Amazon. Jeff Bezos is legendary for his philosophies that guide Amazon as a company. Here they come, so get ready.
1) Innovation is everyone’s job
2) Disruptive innovation is part of the company’s innovation portfolio
3) Keep teams small. Fed by 2 pizzas small. (2 Pizza teams- keeping teams small enough to be fed by 2 pizzas)
4) Take smart risks in the name of innovation
Their culture is competitive and challenging. Put on your suit of armour, we’re going to battle. A driving philosophy is challenging the ideas of others in order to innovate. They also work with a customer centric model that starts with the consumer and builds backwards to create the most optimal product. And if you thought Amazon was rolling it in, think again. The company is known for reinvesting all profits back into the brand, ultimately breaking even.
THE POINT: The key takeaways from this topic are recognizing how important brand voice and personality are to a company and observing the different applications 3P has to popular industries today. It was particularly interesting to me to see inside Amazon and understand their brand more because I literally worship Amazon Prime. The lesson made me consider the kind of company I would want to work at when I become a professional. Could I handle the scrutiny of Amazon, or am I more of an IDEO girl? When I really think about it, I think Cava is a really good match for me. Their philosophies on being health-centric, locally sourced, and transparent match my value of healthy eating. They also present food as a connector that builds relationships, which I can totally vouch for through lunches with friends that got real deep real fast. Cava also uses the two pizza philosophy, as the marketing team is less than 10 people and we all work in a bullpen style office. As for people, they look for someone that A) loves food (live to eat, don’t eat to live) B) is creative, dedicated, and resourceful and C) breathes the brand. I can proudly say I fit all three. Other companies that I think I could be a good fit for are any other industries that match my passions- exercise, healthy eating, body positivity, trendy clothes, and making memories.
Blue Ocean Strategy
New section, new innovation framework. Here we go with Blue Ocean Strategy. The basics: it’s all about creating new markets and investing in untapped industries. The benefits: new products, greater profits, greater brand differentiation. The model follows a four action framework. Create, eliminate, reduce, and raise. Breakdown: Raise- raise industry standard by taking away long competed on factors Reduce- determine if products/services have been over designed to match/beat competition-- simplify Eliminate- uncover and get rid of compromises consumers are forced to make in the industry Create- discover new markets, new sources of value THE POINT: The key takeaways here are that you don’t have to be Steve Jobs to successfully break into a new market, you just have to apply the framework and look for breakout opportunities. It also reveals how firms can manipulate markets to achieve their goals. While I’m not in a position right now to apply the BOS to a company, in the future I will be able to see where competitive advantage and new ideas can bring a company to the next level and takeover a market. For me and what I want to do, with social media I can use the Blue Ocean Strategy with platforms to refine and reinvent the ways a business can utilize digital marketing. No ideas are coming to me in the moment, but I’ll keep you posted. |
Cirque Du Soleil
Never heard of it, you live under a rock. Cirque is a circus experience complete with art, culture, and thrill. No freaky clowns, no animals, no typeropes. Just total innovation. Mind. Blown. Cirque eliminated animals in their shows, isle concessions, star performers, and multiple show arenas. They raised the standard for circus venues, creating a single tent that is almost entirely self sufficient. They reduced humor for thrill, and included artistic elements into their performance, including opera and dance. Lastly they created themes and recreated Vegas though their stationary circus shows. iTunes
Blue Ocean Strategies aren’t limited to businesses. They can apply to products, too. If you take a trip down memory lane to 2006 there was no music download base that was legal, easy, and pairable. Enter our man, Steve and the creation of iTunes. iTunes eliminated the need for illegal downloading, CDs, and music pairing devices not produced by Apple. They raised industry standards through their a-la-cart buying system and by getting music straight from the music companies. They reduced the price of music, $.99 per song, and the packaging through the a-la-cart structure. In the end Apple created a market for music that was provided directly from the music industry, thus creating the first ever relationship between the music and tech worlds. iTunes was a blue ocean strategy because it created a market for online downloading that didn't previously exist. It digitized music sales and introduced a new way to build a library- single song sales. It is virtually unrivaled by any other competitor. |
THE POINT: What should you remember most from this: being empathetic can do more for you than make you a good person, it can make you rich like Steve Jobs. But really, design thinking opens a lot of doors for businesses to be able to create optimal products for consumers and put new, more useful things on the market. Beyond that, creative confidence is the key to innovation. It can be strengthened like a muscle and is required in all fields- not just business. People who have creative confidence make better choices, set off more easily in new directions, and are better able to find solutions to hard problems.
|
Design Thinking
Take out your pencil and notebook, it’s time for a definition. Design thinking, according to IDEO’s David Kelley, is empathizing with the consumer to create a product most tailored to their needs. Example from IDEO- when reinventing the shopping cart, teams specialized in values important to users, such as safety, space efficiency, and movement. Beyond that they devoted hours to research and consultations to understand all parts of the problem. Talk about listening to a lot of complaining. In the end, the shopping cart prototype achieved all the key points consumers highlighted initially. It was safer, easier to maneuver, and more organized than ever before. Thank you IDEO, you just made Whole Foods even better. Apple and Tesla are two other companies with an extreme need for design thinking. For Steve Jobs his attention to detail derives from his father’s need for every part of every project to be perfect. Hence, Jobs’ interest in making the inside of the Mac as graceful as the outside. He combines calligraphy for type face and Buddhism for the simplicity to create the Apple driven world we know today. Name 10 people who don’t have iPhones. I dare you. With Tesla, Elon Musk’s conviction and design thinking are pretty similar. Musk sees the design as the fundamental part of creating a Tesla, making the process customizable from frame to finish. The Creative Confidence, by David and Tom Kelley, expresses the importance of having creative confidence, i.e. believing in your ability to create change in the world around you. It is the conviction that you can achieve what you set out to do, because it lies at the heart of innovation. It derives from self efficacy, how people come to believe that they can change a situation and accomplish what they set out to do in the world, and can be inspired by guided mastery, guiding people through a series of small successes to cure doubts in their creative abilities. The design thinking workshops we did in class were especially helpful to strengthen my understanding of the process. After going through the process, I really liked the interviewing stage. It felt good to have someone listening to me and thinking solely about solutions to my problems.This relates to the empathy involved in design thinking. I felt heard and I felt like my partner took interest in what I was saying. With the brainstorming, at first I found it ridiculous and annoying that unrealistic constraints were added to the process. After applying the constraints, I realized that I needed them to create solutions that weren't generic. The magic constraint helped me to add a feature to my design that gave an alarm clock the power to make coffee, which I later translated into a more realistic signaling feature between Keurigs and the clock. After I accepted the constraints I was able to channel more creativity into my ideas. I really applied empathy with my partner because I created a product that was tailored to exactly what my partner needed. The second lecture allowed me to deeper understand the interview process and how things are translated from speaker to listener. The final workshop allowed me to develop my prototyping skills and learn the importance of having that "WOW" factor. Design thinking can be really useful in creating solutions to problems in all aspects of my life. At Cava I can apply the process to brainstorming content for social media platforms in order to come up with ideas that are different from conventional posts. For school, I think this process is most relevant to this class, BMGT289B, because it helped me make a more original PCR and stand out against the other 90 PCRs Mark Wellman has read. I can also use this for my women studies class (WMST250) to come up with strategies to solve prominent social problems in society. In my personal life I can use design thinking to solve small problems, like the best ways to fix stress, and to bigger things like arguments with friends. I think the process will definitely come in handy in my day-to-day life. |
Observable Culture Framework
Before this class I never really thought of culture as a business thing. It was a city thing- DC culture- and it entailed overpriced donuts, art galleries, and risky, yet totally amazing outfits. But after BMGT289B I’m adulting, and now culture has a whole new meaning. The incumbent’s curse. Could be the title of a horror movie. Basically, Gerald Tellis says that a company’s innovation culture determines its success in the long run. It all revolves around embracing risk and failure and continuing to innovate, even when you own the market. Another focus is organizational culture, the shared social knowledge within an organization regarding the rules, norms, and values that shape attitudes and behaviors of its employees. |
As I’m a huge social media nerd it seems natural to apply this framework to Facebook. Their core values are giving people the power to share and making the world more connective. They also preach moving fast, being open, focusing on impact, building social value over business. They encourage employees to see gaps in the platform and act with creativity and courage. They maintain a startup culture, even as they grow, never wavering from their commitment to human connection. For stories they created online video segments that explain their culture and demonstrate their values. They also share stories of times that Facebook has helped people build relationships, such as online adoptions and reunions. Their heroes can be anyone with the hacker mentality and a drive to change the world. Employees innovate on their own time and engage in outside projects, ultimately inspiring invention within the company. People work on innovation at all levels, from intern to Zuckerberg. Symbols include their slew of motivational posters that line the office walls (think “What Would You Do If You Weren’t Afraid? And other deep stuff like that). And as for rights and rituals, FBs got it covered. All employees start with a 6 week bootcamp as an intro to the company. Real work from the first minute. They also hold hack-a-thons to solve internal problems. All of these trace back to the quick thinking, power gifting values the company holds. Now, how do I apply for an internship?
Some companies are not so lucky. Another passion I have is photography (all photos in the PCR are #mine)… well not real photography, more like iPhone photography, but still, love photos. Kodak unfortunately is not one of the most successful incumbents in the market. In fact, they’ve practically disappeared except for the kiosk in CVS to print photos. Here’s where they went wrong, their innovation culture was nonexistent. Once they rose to power with the film camera they weren’t willing to sacrifice their previous success to own the direction photography was headed, aka digital. Kodak owned all parts of the film camera industry, from film to development to print. They even invested in researching and developing digital products, but in the end their inability to reorganize the company and cannibalize their products lost them market dominance and ultimately sentenced them to bankruptcy.
“Ooops” -Kodak.
THE POINT: The biggest takeaway from this topic revolved around learning what a company needed to do in order to stay relevant and stay on top. We learned necessary traits and practices and looked at a lot of successful cases, as well as unsuccessful ones. For me, I started seeing how the company I intern at applies these tactics to remain a player in the fast casual restaurant market. The company decided to recreate their online order system which may cause a decline in eating in house. Ultimately, the ordering app with allow for a wider audience of on-the-goers and strengthen Cava's hold on the scene. When I start working I think I would do best at a company with values like Facebook or Google, where it’s a less abrasive work environment than somewhere like Amazon, where it’s all about challenging each others’ ideas. I love brainstorming in groups and totally see the benefit to building off each other, but as we discussed in lecture, a competitive business culture would probably intimidate me and stifle my creativity. Don’t blame me, blame my parents for getting me used to a nurturing, encouraging creative environment.
.
Some companies are not so lucky. Another passion I have is photography (all photos in the PCR are #mine)… well not real photography, more like iPhone photography, but still, love photos. Kodak unfortunately is not one of the most successful incumbents in the market. In fact, they’ve practically disappeared except for the kiosk in CVS to print photos. Here’s where they went wrong, their innovation culture was nonexistent. Once they rose to power with the film camera they weren’t willing to sacrifice their previous success to own the direction photography was headed, aka digital. Kodak owned all parts of the film camera industry, from film to development to print. They even invested in researching and developing digital products, but in the end their inability to reorganize the company and cannibalize their products lost them market dominance and ultimately sentenced them to bankruptcy.
“Ooops” -Kodak.
THE POINT: The biggest takeaway from this topic revolved around learning what a company needed to do in order to stay relevant and stay on top. We learned necessary traits and practices and looked at a lot of successful cases, as well as unsuccessful ones. For me, I started seeing how the company I intern at applies these tactics to remain a player in the fast casual restaurant market. The company decided to recreate their online order system which may cause a decline in eating in house. Ultimately, the ordering app with allow for a wider audience of on-the-goers and strengthen Cava's hold on the scene. When I start working I think I would do best at a company with values like Facebook or Google, where it’s a less abrasive work environment than somewhere like Amazon, where it’s all about challenging each others’ ideas. I love brainstorming in groups and totally see the benefit to building off each other, but as we discussed in lecture, a competitive business culture would probably intimidate me and stifle my creativity. Don’t blame me, blame my parents for getting me used to a nurturing, encouraging creative environment.
.