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Eight Companies that Switched What They Did

Destination Innovation

Here are examples of eight successful companies which switched from one activity to another in order to meet a customer need. From 1998 to 2008 it was the world’s largest supplier of mobile phones and smartphones but fell behind Apple and Samsung. In 2008 Mars Inc. In the 1990s it focussed on telecommunications technology.

Company 287
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Baader-Meinhoff Phenomenon: Why we see things everywhere once we see them once

Idea to Value

The Baader-Meinhoff group had existed in the 1970s, and there was even a popular German book (1985) and film (2008) about them, but they were not as well known outside the country. However, the user saw their unusual name once, and after that point they seemed to notice it again and again.

Trends 190
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Recession, Survival and Innovation

Destination Innovation

During the recession that started in the Finance sector in 2008, Salesforce.com boomed by using a new business model, software as a service. A famous example occurred in the 1920s. Consumers adopt new practices. This all means opportunity for the nimble. Two companies dominated the breakfast cereal market, Kellogg’s and Post.

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This part of the brain is the source of improvisation

Idea to Value

Take for example the skill of improvisation, where an individual performs something spontaneous in front of a crowd which has never existed before. Limb CJ, Braun AR (2008) Neural Substrates of Spontaneous Musical Performance: An fMRI Study of Jazz Improvisation. It is partially down to how much those people self-censor.

Study 179
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Innovate and Persuade with a Well-Judged Nudge

Destination Innovation

Here are some simple examples: Putting calorie counts on menus encourages people to make healthier choices – salads instead of french fries. The concept was popularised in the influential book, Nudge, by economists, Cass Sunstein and Richard Thaler, published in 2008.

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Self-Serving bias: Why you think nothing is your fault

Idea to Value

This is an example of a common cognitive bias which we can all suffer from, known as the Self-Serving bias. While in some cases people may really get negative feedback which was completely not their fault, often there is more nuance involved, where the person may not accept their responsibility.

Study 188
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How much luck do you need to be creative?

Idea to Value

Ironically, when people look for information on what it takes to be successful, they will undoubtedly look to examples from successful people. In the 100m butterfly in 2008 in Beijing, Phelps beat Serbia’s Milorad Cavic by one one-hundredths of a second. This is luck. However, luck almost undoubtedly played a factor.