Posted by Mohan Kumar Krishnan (View Profile | View All Posts) at 10:04 AM
Changing the Retail Story: Rachel Shechtman at TEDxHollywood [Source: http://www.youtube.com/watch?v=fbnWY-swsK0]
Global newspapers and magazines pride themselves on being arbiters of grammar and usage. I read with delight that certain publications will now accept the spelling of email without a dash as well as the verb "to tweet." However, many still frown upon using modern terms like "friending" and "googling." Regardless of the acceptability of these terms, the influence that social networks and the internet in general has on shopper behavior is something that cannot be disputed.
Getting inside the heads of shoppers is a daunting task. If our enterprises could read minds, businesses would all be eminently successful. They'd know how to tap into the consumer subconscious with surgical precision. Until they are able to read minds, however, the closest thing that organisations have to really knowing their consumers is crossing the digital divide. I call it a divide because even though it's close, it's nevertheless a challenging thing to traverse. The challenge with digital interactions is in capturing the right data as well as in deriving the right insights automatically. This, when compared to how a sales person learns about shopper needs, interests and priorities during a human interaction, is reasonably complex.
Continue reading "Converting First-Timers Into Repeat Customers" »
Posted by Soundararajan S (View Profile | View All Posts) at 9:53 AM
GE's Innovation Czar On Startup Qualities | Beth Comstock | WSJ Startup of the Year [Source: http://www.youtube.com/watch?v=vJRkSnMy-mQ]
Innovation is driving the marketplace like never before. So many of us have come to the conclusion that to build an effective organization, we must all think and act like a 20-something entrepreneur who works out of his parents' garage.
There's no denying that young innovators who are fresh out of college will deliver plenty of market-changing products in the next decade. But what about the rest of us? The lion's share of the global economy consists of people who work at large enterprises with distinct corporate cultures and well-defined hierarchies. Too often we're led to believe that we have to throw off the trappings of the large organization in order to innovate like a start-up.
It turns out that the opposite is true. That is, the young entrepreneur who's looking to build tomorrow's enterprise from a drafty garage should be taking cues from established organizations. That's because every effective (and, ultimately, successful) start-up is the result of the right mix of messy innovation and defined, disciplined business processes.
Continue reading "The Largest Enterprise Can Be the Best Start-Up" »
Posted by Upendra Kohli (View Profile | View All Posts) at 8:50 AM
Masdar City Development Full length [Source: http://www.youtube.com/watch?v=3gapNu7D7xU]
I'm watching the development of Masdar City with great interest. This booming scientific community, just outside of the U.A.E. capital of Abu Dhabi, is on its way to becoming another global innovation hub.
What's different about Masdar's innovation story is that it has occurred pretty much overnight. I exaggerate, of course, but not too long ago this hub was a vast stretch of desert. Now it's an ecologically friendly community where alternative energy is at the top of the innovation list. That's quite remarkable given the Gulf's history of providing the world with oil and natural gas. It goes to show you that being successful in one sector doesn't limit you from creating market-moving changes in another.
There's been a cordial debate for the better part of a decade as to what are the ingredients of a successful technology and innovation hub. One side says it's about "nature": These hubs evolve organically over time. Others say it's more about "nurture." With the right planning, vision, location, and funding, anyone can create a world-class hub.
Masdar City definitely falls into the second category. Its success makes a compelling case that innovation hubs can be the creations of joint government and business efforts. But where Masdar differentiates itself from other government initiatives is that it's dedicated to commercially viable enterprises. If these renewable, clean energy innovations and their start-up companies can't make a market for themselves, they're not coddled by a government agency. It's sink or swim.
Continue reading "Why Centers of Innovation Matter" »