Competing Against Luck

Competing Against Luck

Summary
Competing Against Luck is the 2016 story of innovation and customer choice by Clayton M. Christensen that introduces jobs theory. Do you know why your most recent customer purchased your product or service? Not the obvious reason, but the deeper reason behind the choice? For example, why do people buy milkshakes? Are you buying the milkshake to satisfy hunger? As a dessert treat? To cool you off on a hot day? To appease your kids for a few minutes of peace and quiet?   Competing Against Luck Clayton Christensen introduced the groundbreaking theory of disruptive innovation in his 1997 book The Innovator’s Dilemma. The concept (discussed by Lean East in this post) has been called the most influential business idea of the early 21st century and made Christensen one of…
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TRIZ Inventive Problem Solving

TRIZ Inventive Problem Solving

Lesson
Is your company interested in improving its products, services, and systems but not sure where to start? It is very likely that a solution to your problem has already been discovered by another industry somewhere in the world. Many of the most innovative companies in the world apply TRIZ inventive problem-solving methods to innovate their products and processes. TRIZ (pronounced “(/ˈtriːz/”) is a Russian acronym that translates to "theory of the resolution of invention-related tasks" and is "a problem-solving, analysis and forecasting tool derived from the study of patterns of invention in the global patent literature."   TRIZ history TRIZ was first developed over 50 years ago by Russian inventor Genrich Altshuller and his colleagues. The team studied hundreds of thousands of published patents to discover patterns in the solutions…
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Lean Innovation for Growth

Lean Innovation for Growth

Lesson
Our two previous posts introduced the Need for Lean Innovation and Lean Startup Thinking. In our conversations about Startup Thinking and Innovation, we want to clearly encourage that these innovation tools and strategies work for established companies equally as well as they do for start-ups. In fact, most of the companies Lean East supports are mature companies, not early-stage companies with a nascent product idea to test. In this post, we show that there are four primary types of innovation for existing companies, as presented by the Harvard Business Review article "You need an Innovation Strategy," Gary P. Pisano in 2015. The four types are described by whether they feature a business model innovation or technical competency innovation. Then we share three suggestions for existing companies who want to innovate.…
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The Need for Lean Innovation

The Need for Lean Innovation

Lesson
As recently as 15-years ago, most markets had few competitors and significant barriers to entry. Management would decide what product to build, budget the work and assign engineers and developers to the project team. New product development projects would often last for many years. Similarly, companies providing services would keep an eye on market competition and take the long-approach for releasing new offerings, often protected from competition by regional control and deep reputation. Today, the internet, open-sourced solutions, and social media have leveled the playing field. Consumers have one-click buying options for new products at their fingertips. New internet-based services disrupt long-standing businesses such as taxi transportation, insurance, legal services and healthcare. Customers will switch quickly and often to better solutions. Every day our world continues to become more complex.…
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