The decentralized, public Ledger that was created to serve as the foundation for Bitcoin has evolved and proven its viability for other industries. As a result, the Blockchain Technology has got into its Growth phase, and a wide range of organizations and start-ups are exploring how to utilize its numerous benefits for their advantage.
As innovation lovers, we always like to describe innovation as a great, positive and helpful thing. However, as Clayton Christensen describes in his famous article “The Innovator’s Dilemma“, a lot of companies, oftentimes incumbents, experience in their industries, innovation has a negative, darker side as well. This side can damage these incumbents and wipe them away. Exactly on this topic, Dr. Ankush Chopra, has written his book The Dark Side of Innovation.
As the importance of innovation rise among different industries, executives seek for alternative approaches and structures that will ensure their ability to innovate successfully.
Gladly, there are various proven ways to design an innovative organization that will have the ability to adapt itself and successfully reach its growth goals and objectives. To achieve these, companies should decide whether they would like to work with their existing organizational structures (which will be covered on next week’s post) or create completely new ones (e.g. Centers of Excellence and Innovation labs).
After writing about August last month and about the best purchase that my wife and I had ever made, I’ve decided to do a research about other cool gadget related to the Home Automation Field that will be popular in the near future.
One of the most famous concepts in Innovation is the Innovation S-Curve, the technology life cycle. This framework, which operates alongside the Bass Model, is used to determine performance in regards to time and effort. It assists in determining the level of maturity of the industry / product.
As a result, when evaluating a product or an industry, it is crucial to understand where it is on the S-curve due to the many implications that result out of that such as the possible risks and pitfalls that are associated for certain phases on it.
How new organization determine what products they should pursue? How can you tell if a product will become successful or not? How markets react to new products?
For all of these questions, innovators have the Bass model.
The goal of the Bass Model invented by Frank M. Bass is to predict how new products and technologies are diffused among the market. As a result, the Bass Model (or curve as it is called often) assists greatly in describing and predicting the possible markets of new consumer durable products.
Usually, the adoption of these new products and technologies look like this:
After deciding to upgrade my previous IPhone, I decided to check out what is all the fuss about androids that all my friends were talking about. As an IPhone customer, who was sure that nothing can beat my beloved device and operating system, I decided to research the market for something new and unique.
From this research I’ve found the One, an invite only mobile device by OnePlus, an android based device that has incredible specs and performances. This great device is being sold for less than 50% of its competitors ($249 for the 16GB, $299 for the 64GB).