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First-Mover or Fast-Follower: Which is the right innovation strategy for you?

Idea to Value

For example, Scott Anthony (interviewed on the podcast here ), summarised his views in a 2012 HBR article about which companies might benefit from moving first: If you are what Professor Steven Spear calls a “high-velocity organization” that is always learning and improving, there are real benefits to moving first.

Strategy 257
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Pivotal Innovation Management: The Past, Present, and Future of 180° Business Changes

Qmarkets

Another example I like to present is Nintendo, originally a purveyor of handmade playing cards, attempted to enter a number of new markets due to the fact that consumer interest in playing cards had decreased substantially. Rising competition from Apple and Google caught Nokia out of position and led to near-bankruptcy in 2012.

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Keeping Up is a Fool’s Game

Daniel Burrus

Keeping up—with technology, with the competition, with anything in business or life—is what some would call a fool’s game. Asking these questions enables you to go beyond your competition and get off the treadmill of keeping up. Trends that are linear (and not cyclical) present the best opportunity for exponential change.

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Innovation Strategy – Pat McGauley and a New Beer in Town

BrainZooming

While the two team approach was designed to keep the longer-term team from getting pulled into today’s fires, it presented challenges. The innovation team spent 15% of its time on core brand renovation to enhance competitiveness. One chart depicted (I think) growth factors in the beer market from 2012 to 2014.

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Adapt or die: lessons from 5 companies that failed to innovate

Idea Drop

They filed for bankruptcy in 2012. Each CEO was so ignorant of history that they presented the same business plan over and over again, until Netflix was ready to take their market share with a bulletproof online offering. Lesson: If you don’t do it, someone else will. Lesson: Experience is only one element of your customer journey.

Company 68
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How Telltales Told You Not to Own Wal-Mart, and Continue To Do So

Adam Hartung

By February, 2012 I pointed out that the big reorganization at Wal-Mart was akin to re-arranging deck chairs on a sinking ship and said nobody should own the stock. Where it was in January, 2012 and only 10% higher than when I first said to avoid the stock in 2010. I continued to say that this disease would cripple Wal-Mart.

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Innovation System Thinking on a Sunday! What, no roast or glass of wine? Later.

Paul Hobcraft

So this Sunday I went back to a range of concepts that all have critical impact on the innovation process that many of the present popular thinking parts only trigger that part of the innovation system for incremental improvement, even if it is dramatic for one person or a team exposed to it. Going back and reminding myself.

System 147