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Innovation : The New Route To Wealth
Oleh:
Hamel, Gary
;
Skarzynski, Peter
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Journal of Accountancy vol. 192 no. 5 (Nov. 2001)
,
page 65-70.
Topik:
innovation
;
innovation
;
new route
;
wealth
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ85.13
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Where does new wealth come from ? Like a four - year - old asking how babies are born, it’s a deceptively direct question that often disarms our conventional capacity to answer. To be sure, we’re ready with pat responses peppered with references to ROI, RONA and EVA, but these measures tell us more about how existing revenues are rearranged rather than created anew. After all, we’re not talking about market share sliced loose from a competitor, or revenues boosted by an M & A binge - but truly new wealth : revenues from new customers buying products or services that yesterday they didn’t know they needed, but today they can’t live without. Creating new wealth requires more than simply responding to market demand. Think about some of the path - breaking products of the past few decades. No car buyer walked into a Chrysler dealership in 1983 saying that what he really wanted was a van mounted on a car chassis with folding seats - and don’t forget some cup holders. No customer told Sony the only thing wrong with its tape players was that you couldn’t strap one on your head. Neither the BBC nor the U. S.’s Big 3 TV networks saw a market for 24 - hour news ; it took a renegade named Turner operating out of Atlanta to wed three trends - the advent of the shoulder - held minicam, more affordable access to satellite transmission and the fact people no longer make it home in time for the 6 o’clock news - into the concept of a continuous news format. Innovations like the minivan, the Walkman and CNN succeeded not because they responded to market need but because they created a need consumers had yet to sense themselves. All of which attests to the fact that in the New Economy, the greatest rewards go to companies that create new business models - ideas that spark new sources of revenue based on changing technology, demographics and consumer habits. By definition, new business models destroy old ones, which is why creating new wealth is a threat to every traditional, unimaginative business. Never before have strategy life cycles been shorter and has market leadership counted for less. Call it the First Law of the Innovation Economy : Companies that are not constantly pursuing innovation will soon be overwhelmed by it. Strategy innovation is the only way to deal with discontinuous - and disruptive - change.
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