Tag Archives: Failure Analysis

How Success Can Become Your Enemy

If you've started a company chances are pretty good that you saw a pattern of opportunity emerging in the marketplace that most other people hadn't yet noticed. Identifying that pattern and then capitalizing on it meant convincing investors, employees, and customers that the pattern really existed--well before it was obvious. All of that preaching requires so much effort that once you've established a pattern for success you've just about etched it in granite.

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Failure Forums: Learning from Best Buy Media Label 'Redline Entertainment'

With every disruptive innovation project there are mountains of unknowns. A team can have a good plan in place but without all of the pieces assembled together it is almost impossible to test each individual hypothesis. This fact is what makes disruptive innovation projects so risky with a high failure rate. This is the story of Best Buy's failed attempt to enter the Entertainment Media Label business and one leader's insistence on making sure that the organization learned from their mistakes.

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Innovation Best Practice is a Verb not a Noun

One of the central tenets of 20th Century business has been ‘best practices’.   Let’s dissect this veritable oxymoron: Best: highest quality, standing (at a point in time, place and context) Practice: a habit or custom (noun) or to do repeatedly to acquire proficiency Admittedly, and importantly, there are things to learn from others successes and failures.  But, one of the big mistakes companies ...

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